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7.0 Financial Donations

A donation of funds may be accepted only if the Application to Approve Donations (AAD) has been submitted, a Donation Agreement has been fully executed, and made payable to the order of, or endorsed to, the District of Columbia Treasurer. All monetary donations must be deposited in an appropriate account and maintained and disbursed under the same standards of accountability and the same safeguards as monies appropriated by Congress.

Once OPGS authorizes the acceptance of a financial donation, the recipient must forward a copy of the check to the Donations Manager.  After the copy of the check is received, the Donations Manager will request the attributes to be set up from the recipient agency’s AFO. Note that before a check can be processed, a Donation Agreement must be executed, agreement must have the authorizing signature of the Director of OPGS or the Director’s designee.

The recipient agency must work closely with its AFO to establish the attributes for the donation, provide the appropriate revenue codes, and develop a spending plan.  All donated funds will be deposited into fund 8450 (private funds) by the Office of Finance and Treasury.  Pursuant to section 115 of the District of Columbia Appropriations Act, 2003 prior budget authorization is not required by the Office of Budget and Planning for the recipient’s CFO to deposit financial donations into its account.

In addition to the above steps the following actions will occur:

  • The Office of Finance and Treasury will notify the Director of Budget and Formulation in the Office of Budget and Planning that the check has cleared.
  • The Director of Budget Formulation will establish a budget for the donation in consultation with the recipient agency’s agency fiscal officer or designee.
  • The Office of Budget and Planning will load the funds into the agency’s budget based on the donation budget.

 

(A) Accepting Solicited Checks

  1. Once the check is received by the recipient agency, a copy of the check must be forwarded to OPGS.
  2. Once the check has been deposit, a copy of the deposit receipt must be forwarded to OPGS.
  3. OFT will complete the following steps to ensure the proper use of the donation:
  • Record the funds in SOAR based on the associated RCR; and,
  • Send a copy of the processed RCR to the agency AFO and to OPGS to confirm that the funds were recorded in SOAR.

 

(B) Accepting Wire Transfers

The recipient agency may accept a financial donation via a wire transfer between the donor and the D.C. Treasury.  A donor requesting to remit a donation via wire transfer must initiate the wire transfer through their bank to:

Bank Name: Wells Fargo
ABA Number: 054001220
Account Name: DC Government
Account Number: 2000043154623 – BANK ID 23W
Reference: "Contribution for ----"

The recipient agency’s AFO must work with OCFO’s Cash and Investment Manager or the Cash Management Unit to set up the wire transfer and the attributes.  The Office of Finance and Treasury will submit a transfer receipt to OPGS to properly record the donation.

 

(C) Accepting Securities

  1. After an applicant is authorized to accept a donation of securities, OPGS will provide the donor with a copy of the securities delivery instructions.
  2. The recipient’s AFO will prepare the SOAR revenue cash receipt (RCR) and Standard Deposit Ticket and submit the form and ticket to OFT.
  3. The donor delivers the donated securities to the District government’s transfer agent.
  4. The District’s transfer agent will liquidate the securities and wire the net proceeds to OFT for deposit into the appropriate account.
  5. OFT will notify OPGS that the funds were deposited.
  6. OFT will issue a receipt to the donor.
  7. OFT will record the funds in SOAR based on the associated RCR and send a copy of the processed RCR to the recipient’s AFO and the OPGS to confirm that the funds were recorded in SOAR.