FundSvcs Community

Hello,

We are currently evaluating our gift documentation/record-keeping practices and are interested in understanding how other institutions maintain documentation.

If your Finance or Cashier's departments do not retain copies of deposited checks, what documentation do you keep to ensure a clear audit trail for gifts received? In our office, we retain the original gift form or any written notation on the returned solicitation piece in physical file storage for seven years, along with a scanned copy stored in a secure electronic system (but are looking to move away from the scanned copy).

During audits, our Finance department often requests supporting documentation for specific gifts or adjustments to verify how and why they were recorded. Given this, we are particularly interested in learning what types of records your institution maintains when it comes to copies of checks specifically, especially with regard to secure storage and audit support.

Thank you in advance for sharing your practices.