ADMINISTRATIVE PROCEDURE

Changing an Income Distribution Allocation for an Investment Account

Overview:

Income is distributed from both the Consolidated Endowment Fund (CEF) and the Group Income Pool (GIP) on a quarterly basis to ChartField strings designated by University colleges/departments. University colleges/departments may change, reinvest, or re-allocate the ChartField string(s) that receives income distributions. Examples of these could include:

  • Change the ChartField String receiving part or all of the income distribution
  • Add a new ChartField String to in order to create a split distribution between two separate ChartField Strings
  • Change the percentage or dollar amount reinvested into the investment account (participant ID)

Process:

University colleges/departments initiate income distribution allocation changes to CEF and GIP in the financial system.

Enter the income distribution allocation change.

Important note: If more than one ChartField string is set up to receive the income distribution, it is imperative the allocation percentages add up to 100%.

Accounting Services will review the income distribution allocation change and either approve the change, suspend the change or deny the change in the system. The income distribution allocation change will be effective after Accounting Services has approved the transaction in financial system.

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