Welcome to Financial Services at East Carolina University
Institutional Trust Funds

Financial Services



Each new Trust fund (but not Grants and Contract funds recorded in the Office of Grants and Contracts) must be requested from the Institutional Trust Funds Office and approved by the Vice Chancellor of Administration and Finance or designee. 

The following conditions must be present to establish a Trust Fund:

  • The monies (assets) to be placed in the trust must meet the criteria as institutional trust funds or special funds.
  • The monies may be generated in the course of performing departmental research and public service activities which are not state supported. Detailed periodic accounting reports are not required by external organizations, agencies (such as the federal government).
  • All costs associated with the generation of revenue must be matched with that revenue whether by direct payment of the expense or, if appropriate, by reimbursing another fund which originally incurred the expense.
  • A trust fund should be requested when funds are anticipated which qualify under the conditions outlined above.
  • Sources of significant amounts should not be combined except by type of revenue and purpose of fund. For example, revenue obtained through gifts should be placed in a separate trust fund from revenue generated by contractual services.
  • After determining that a new trust fund should be established, a Trust Fund Request form and Fund Authority form should be completed and forwarded to the Vice Chancellor of the related division.  (Division of Health Sciences forms should be completed and forwarded to DHS Administration and Finance, Attn: Leanne Turner).  Once approved, the Institutional Trust Funds Office will review for adherence to the General Statutes, assign a fund number, and enter into the Banner Finance system.  The department will be notified of the fund number and procedures for initiating financial transactions.