Agenda Endowment Funds Reporting Cheryl Soper and Jarrod Van Kirk Endowment fund range Endowment market value in general ledger 1

Endowment Fund Range Current endowment fund range is running out New fund ranges will be alpha numeric based on the type of endowment Effective date – beginning on July 1 st, a switch will be made to the alpha numeric range Type of Endowment Current Fund Range True (Permanent) Quasi restricted Quasi unrestricted Quasi permanent Type of Endowment New Fund Range True (Permanent)EXXXX Quasi restrictedQXXXX Quasi unrestrictedUXXXX Quasi permanentPXXXX 2

Endowment market value in the general ledger Beginning in period zero of FY 2009, market value will be recorded in the general ledger at the individual endowment level Share value will continue to update on a quarterly basis System will compare current market value (shares multiplied by share rate) to current book value and allocate the difference to the fund level via journal entry ◦ For an increase in market value, a journal entry will credit account (Unrealized G/L on Pooled Endow) and debit account (Diff. Btw. Endow. Book & Market) ◦ Each month a closing allocation will adjust the difference between book and market based on any changes made to book and market that month Market value can be obtained in Business Objects by querying on the sum of accounts (Pooled Endow. Book Value) and (Diff. Btw. Endow. Book & Market) 3

Source Use Report – Proposed The University of Michigan Sources/Uses Report-YTD Report ID: MGLN074A Operating FundsNon Operating Funds RestrictedUnrestricted FederalNon-FederalERF-GiftsSubtotalGeneralDesignatedAuxiliarySubtotalStudent LoanPlantEndowmentGrand Total Fund Balance Beginning of Year -243,99279,7563,603,622 3,439,387 1,219,541656,8248,657 1,885,023 02,1246,842,704 12,169,238 Sources General Fund Appropriations00009,088, General Fund Transfers00008,054, Federal Grants/Contracts10,613, Non-federal Grants/Contracts0972, Cost Sharing Transfers Gifts00472, ,041568,527 Endowment Distribution00706, ,903735,947 Investment Distribution ,40129,294 External Department Revenue ,27591,13418,219539, Internal Departmental Rebill , Adjust Pooled Endowments to Market 6,725,186 Total Sources10,613,404972,5771,178,50312,764,48417,573,07091,13421,78017,685,984006,880,53137,330,999 Uses Faculty Salaries384,96141,39812,245438,6052,860, ,298,854 Research Faculty40,63130,3896,97077,990122,295011,776134, ,060 GSA Salaries1,496,32638,33753,0941,587,7571,932, ,519,888 Staff Salaries1,497,862207,096101,3321,806,2912,552,691-4,939252,5452,800, ,606,587 Fringe Benefits820,09180,37430,805931,2701,886, ,3481,961, ,893,013 Tuition Grants891,12418,0056,726915,8542,783, ,699,208 Scholarships/Fellowships461,37472,572139,275673,221279,7065,7321,400286, ,059 Supplies1,102,438338,187106,6451,547,2701,502,99541,619-6,5211,538, ,085,362 Travel/Transportation87,4656,54155,977149,982244,7015,0379,605259, ,326 Internal and External Services225,59657,47620,432303,505181,530-11, ,645-78, ,586 Subcontracts Over 25K156, Miscellaneous Expenses34,0182,26637,60173,885170,65722,0295,721198, ,292 Inventory Acquisitions Equipment378,118019,271397,389738,0340-1,786736,24802,12401,135,760 Indirect Cost2,980,153170,89303,151, Transfers to Construction Net Transfers-27,44418,75340,26231,571-24,64116,4460-8, ,984-99,608 Total Uses10,529,1481,082,287630,63512,242,07015,230,50473,71399,44315,403,66002, ,98427,524,870 Net Change84, ,711547,868522,4142,342,56517,421-77,6632,282,3240-2,1247,003,5159,806,129 FUND BALANCE-$159,735-$29,954$4,151,490$3,961,801$3,562,107$674,246-$69,006$4,167,346$0 $13,846,219$21,975,366 4