Opening Doors For Departments Matt Darring Manager of Investment Accounting Financial Reporting and Analysis How The Internal Investment Program Works.

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Presentation transcript:

Opening Doors For Departments Matt Darring Manager of Investment Accounting Financial Reporting and Analysis How The Internal Investment Program Works

BIG PICTURE The Internal Investment Program is a short to medium term, risk free, and fully liquid investment vehicle for departments For FY 2008, the IIP had an average investment of $373m and $9.9m in interest benefit for departments

Do You Have What It Takes? Allowable Fund Sources Qualified Fund Types(GA)(GL) Gift & Endowment Distribution Funds DR ER DU EU Local Plant Funds LP E & G Reserves SP5212 Auxiliary Operating and Reserve Funds SP LP SA LA / 1120 /

A Positive Outlook Cash Balance By Project Report + Project to Date Revenues - Project to Date Expenditures +/- Transfers - Investments Cash Negative Number on CBR = Positive Cash

Positive Cash Balance and IIP Investment

Everybody In The Pool Choose a Pool based on your cash needs Pool 1 (1215) - $10,000 threshold/minimum, Short Term Market Rate, 1 year minimum term Pool 2 (1216) - $500,000 threshold/minimum, Market + 1/2%, 2 year minimum term Pool 3 (1217) - $1,000,000 threshold/minimum, Market + 3/4%, 3 year minimum term

Live In The GL Investing General Ledger Journal Entry Category: UVA Transfer DR/CREntityProjectFund SourceObject Code OrgFutureAmount DRProject Entity Dept Project Correct Fund Source for Project 1215/6/7Project Owning Org 0000$$$$ CREntity on Dept Project Fund Source on Dept Project 1215/6/ $$$$

Interesting Interest Earnings are automatically allocated and reinvested every quarter by FRA D and E Awards are automatically installed Interest Income is posted to Object Codes 4836/7/8 depending on investment pool This is the only automatic part of the Internal Investment Program, all other activity requires Department action

Getting Out of The Pool Safely Divesting General Ledger Journal Entry Category: UVA Transfer DR/CREntityProjectFund SourceObject Code OrgFutureAmount DREntity on Dept Project Fund Source on Dept Project 1215/6/ $$$$ CRProject Entity Dept Project Correct Fund Source for Project 1215/6/7Project Owning Org 0000$$$$

Divest To Avoid The Man Penalties exist for: Cash deficits Not meeting minimum investment amounts Not meeting minimum term limits Typical penalty is the loss of a quarter's interest

Report, Reconcile, & Relax Run the Cash Balance by Project Report at least monthly to monitor cash balances and divest IIP if necessary

Down To Brass Tacks Pools 2 & 3 did not exist before FY 2008

More Tacks Average annualized rates for the Pools for Fiscal Year 2008 Pool % Pool % Pool %

Don't Make These Mitsakes Pay attention to these problem areas org value on the offset side of entry project on the offset side of entry Project Owning Org on department side of entry Award Purpose Code Fund Source on both sides PTD Cash Balance w/o Commitments is the cash balance to use

Now That You Are Off and Running… Any Questions? Matt Darring at