Q. What is an endowment?
An endowed gift cannot be spent. It is held in perpetuity. The principal is invested to produce income. Endowment income may be spent. Most of the endowment funds of Elizabethtown College are used to support specific named scholarship funds.

Q. What are agency funds?
Agency funds are held by the institution as custodian or fiscal agent for others. In other words, the College performs the banking function for other groups. Agency funds can be used for student organizations or special events.

Q. What is the current mileage reimbursement rate?
The current mileage reimbursement rate is $0.485/mile.

Q. What should I do if I have a question about an agency account?
Stop by the Business Office or contact Diana Lynn at
horndl@etown.edu.

Q. What should I do if I have a question about a Fixed Asset?
Contact our Staff Accountant, Erica Barley at barleye@etown.edu.

Q. What are Current Restricted Funds?
These accounts are used to account for resources received from donors or outside agencies, but restricted to a specific purpose. These funds support current operations.

Q. How do I know who to contact with questions about my departmental budget reports?
Each department has a budget contact person assigned to it. Please refer to the Department List for details.

Q. When can I expect to receive my department budget and expense reports?
Department reports are available online.  For questions regarding your online access, please call Erica Barley at ext. 1217.

Q. How do I make sure my department's expenses are recorded in the proper fiscal year?
The College's fiscal year ends on June 30th. During this time of the year it is best to clearly mark all purchase orders and invoices with the budget year you are using.

Q. What procedures should I follow when approached by a government auditor asking for information?
In general, Elizabethtown College is committed to providing government auditors with access to all documents and data that are relevant to government audit purposes. Inquiries can be directed to (717) 361-1184 or email Rebecca Beck.

Q. What do the numbers in my department's account represent?
This PDF file describes the parts of the account.