Income Distribution
The University will credit short term investment income to the following funds:
- Unappropriated Plant Funds
- Operating Fund Surpluses
- Special Fund Raising Programs
- Funds for Establishing Endowments or Loans
Unappropriated Plant Funds
The University will credit short term investment income to such unappropriated plant funds which have been accrued prior to the establishment of plant projects. These unappropriated plant funds are for major projects such as the Medical School West building renovation, a new School of Management building (if such a drive is finally approved), and the Mather College building restoration. Short term investment income will be credited to this fund monthly.
Operating Fund Surpluses
The University will credit short term investment income to the operating fund surpluses in each of the management centers which have not had deficits in any of the previous five fiscal years. Such crediting on short term investment income will continue to be credited each year as long as that management center continues to have an operating surplus. Short term investment income will be credited to the operating fund monthly.
Special Fund Raising Programs
The University will credit short term investment income to certain special fundraising programs which have received prior approval. A precise definition of which funds qualify is difficult to describe expect in most general terms. Therefore, the President, University Vice President and/or Administrative Vice President have the authority to approve such programs. Short term investment income will be credited to this fund monthly.
Funds for Establishing Endowments or Loans
The University will credit short term investment income in certain instances to monies which have been received whose ultimate objective is to establish an endowment or loan fund. The criteria for crediting such income is that $20,000 or more has been received, that a commitment or commitments to raise the balance required to establish the fund in no more than 3 years has been receive in writing, and that no expenditure will be authorized from either income or principal during such period prior to presenting the resolution to the Board of Trustees to establish the endowment fund. Short term investment income will be credited to this fund monthly.
Returns |
|
September 2009
|
0.11% |
August 2009
|
0.01% |
July 2009 |
0.01% |
June 2009 |
0.03% |
May 2009 |
0.13% |
April 2009 |
0.18% |
March 2009 |
0.45% |
February 2009 |
0.28% |
January 2009 |
0.11% |
December 2008 |
0.37% |
November 2008 |
0.60% |
October 2008 |
0.81% |
September 2008 |
1.58% |
August 2008 |
1.89% |
Updated October 9, 2009
