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Run: Restricted Fund Net Asset Release Tracking

Track each release of restricted net assets from donor or grant restrictions to unrestricted classification, with the support, approvals, and journal entry d...

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Release Entry Identification

Entry Reference Number

Auto-assigned or manually entered journal entry reference number for traceability to the general ledger.

Accounting Period (required)

The fiscal period in which this restriction release is being recorded.

Fiscal Year (required)

Four-digit fiscal year for this release entry.

Date of Release (required)

The date on which the restriction was satisfied and the release is being recorded.

Prepared By (Name) (required)

Full name of the accounting staff member preparing this entry.

Preparer Title / Role

Original Restriction Details

Type of Restriction (required)

Classify the restriction per ASC 958-205. Purpose restrictions are released when funds are spent for the designated purpose; time restrictions are released when the stipulated period expires or the specified date arrives.

Restricted Fund Name (required)

The name of the restricted fund or gift account as it appears in the chart of accounts.

Fund / Account Code (required)

General ledger account code for the restricted net asset account.

Original Donor or Grantor Name (required)

Name of the donor, foundation, or granting agency that imposed the restriction. Do not enter Social Security numbers or personal financial account details.

Original Gift / Grant Date

Date the original restricted gift or grant was received.

Description of Original Restriction (required)

Summarize the donor's or grantor's stated restriction as documented in the gift agreement, grant award letter, or pledge document. Quote key language where possible.

Gift Agreement / Grant Award Reference

Document reference number, grant number, or file location for the original agreement.

Satisfaction of Restriction

Basis for Satisfaction (required)

Select all conditions that have been met to justify this release.

Date Restriction Was Satisfied (required)

The date on which the qualifying event or expenditure occurred, which may differ from the accounting entry date.

Program / Project / Cost Center (required)

The program, project, or cost center to which the released funds are being applied.

Narrative Description of How Restriction Was Satisfied (required)

Provide a clear, auditable explanation of the specific activity, expenditure, or event that satisfies the restriction. Reference invoice numbers, payroll records, or program reports where applicable.

Is This a Partial or Full Release of the Fund? (required)

Indicate whether this entry releases the entire remaining restricted balance or only a portion.

Remaining Restricted Balance After This Release ($)

Enter the dollar amount that will remain in the restricted net asset account after this release. Required for partial releases.

Release Amount and Journal Entry

Amount Released ($) (required)

Total dollar amount being reclassified from net assets with donor restrictions to net assets without donor restrictions in this entry.

Debit Account — Net Assets With Donor Restrictions (required)

General ledger account code to be debited (reducing restricted net assets). Typically a 'Release From Restrictions' contra account per ASC 958-205-45-9.

Credit Account — Net Assets Without Donor Restrictions (required)

General ledger account code to be credited (increasing unrestricted net assets). Typically a 'Satisfaction of Restrictions' revenue account.

Currency (required)

Currency of the release amount. For foreign-currency grants, record in functional currency and note the exchange rate used.

Exchange Rate / Conversion Note

If currency is not USD, provide the exchange rate applied and its source (e.g., Federal Reserve H.10 rate as of release date).

Related Expenditure / Invoice References

List invoice numbers, check numbers, payroll batch IDs, or other transaction references that substantiate the qualifying expenditure. One reference per line.

Supporting Documentation

Documentation Attached or Referenced (required)

Select all documentation types that have been attached or are on file to support this release.

Upload Supporting Documents

Attach scanned copies of key supporting documents. Accepted formats: PDF, DOCX, XLSX, JPG, PNG. Maximum 20 MB per file.

Document Storage Location / File Path

If documents are stored in a document management system, provide the file path, SharePoint URL, or records system reference.

Additional Notes or Disclosures

Note any unusual circumstances, donor communication, legal considerations, or items requiring disclosure in the financial statement footnotes.

Review and Approval

Reviewer / Approver Name

Full name of the accounting supervisor, Controller, or CFO approving this entry.

Review Date

Date on which the reviewer completed their review.

Approval Decision

Reviewer's decision on this release entry.

Reviewer Comments

Required if approval status is 'Approved with Notes' or 'Returned for Correction'. Document any conditions, corrections needed, or follow-up items.

Posted to General Ledger?

Check this box once the journal entry has been posted to the general ledger system. Do not check until approval is confirmed.

Yes No N/A

GL Post Date

The date the journal entry was posted in the accounting system.

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