If one has a lot of separate restricted and/or designated funds it
must be very difficult to keep track of them all.
And don't forget GRANTS. Those are very much like restricted funds if
the money is received ahead of use AND are almost, if not quite as much
work, even when in the form of reimbursement grants << ones where you
track the eligible expenses, prepare a report of those along with
matching receipts/paid invoices to submit to the entity making the grant >>
With both restricted donations and grants, one of the tasks of the
treasurer, besides tracking how used, may be to track funds at risk of
disappearing if not used according to purpose/time. You board may need
to take actions, including asking the donor or grantor to alter the
restriction conditions, allow a change of purpose or more time, etc.
Michael D Novack
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