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When trust funds are established there are a number of considerations that should be taken into discussion with potential benefactors, including:

The value of the capital This should be sufficient for the purpose for which it is to be used. The University Development Office can advise on levels of capital required as well as tax-efficient methods of making a gift to the University.
The terms of the gift and subsequent wording of the regulations The more general the terms of the gift, the more subsequent wording of the flexibly it can be used. It is helpful to include regulations provision, where acceptable to the benefactor, for funds to be used for general purposes as well as a specific purpose. For example, a fund might be for a prize, but the regulations might specify that any remaining funds can be used for the furtherance of teaching and research in the subject.
Provision for funding essential departmental and central administrative costs This is essential departmental and administrative costs.

It is important to consult the University Draftsman, or other officer of the Secretariat, about the form of regulations as they can advise in the early stages of any discussion with benefactors.

Setting up of the Fund

Benefactions and gifts to establish new Trust Funds are always reported to Council and a Notice announcing acceptance by the University is published in the Reporter.

The Notice would usually be accompanied by a grace, or grace and report, to set up regulations for the management of the new Trust Fund.

The Cambridge Foundation should receive the benefaction, which will then be transferred to the Finance Division. The Finance Division will set up a new Trust Fund account on the University Financial System (UFS), and make arrangements to invest the money on behalf of the fund. Monthly financial statements will be produced and distributed to the managers from this point.

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