Fiscal Year 2014 Endowment Payout Process Change Posted July 2013.

Slides:

Advertisements

Similar presentations

Cash Flow Budgeting: Chap.13 §What is a cash flow budget used for? §What items are included in cash inflows and cash outflows? §What adjustments can be.

Advertisements

Endowment Payout Process Tutorial 4: Understanding Share Value Other Available Tutorials: 1. Fiscal Year 2014 Endowment Payout Process Change 2. Basic.

FISCAL ACCOUNTABILITY OF STATE GOVERNMENT Presentation Prepared for the Appropriations Committee and the Finance, Revenue, and Bonding Committee by the.

January 2010 Chuck Essigs – Arizona Association of School Business Officials Changes to the Classroom Site Fund (Prop 301) Budget Impact for FY 2011.

Enterprise Asset Management CUB meeting November 14, 2012 DAS Surplus Property Program facilitates the reuse of surplus property for state, local and federal.

1 BUDGET ANALYSIS AND REVIEW COMMITTEE BARC Report to Council Jim Neal BARC Chair for CD # Midwinter Meeting Midwinter Meeting.

Budget Hearing and Annual Meeting Monday, August 20,

April 17, 2007D. Brothwell, CPSLO 1 Central Payroll Activity Workshop Financial Officers Association Annual Conference - April 2007.

Deficits and Debt. The Budget Process Taxes, especially personal income taxes, provide most of the federal government’s revenue.  The federal budget.

ALASKA ’ S FIRST UNIVERSITY  AMERICA ’ S ARCTIC RESEARCH UNIVERSITY University of Alaska Fairbanks Executive Leadership Workshop 1 ALASKA ’ S FIRST UNIVERSITY.

Financial Rep Meeting July 14, OPENING REMARKS & BUDGET UPDATE RALPH ALVAREZ 2.

Endowment Payout Process Posted July Confidential Stanford University Confidential Stanford University Endowment Payout Process Tutorial Segments.

Office of Budget and Financial Planning F&A Meeting Sep 30, 2014.

STATE FISCAL CRISIS: UPDATED IMPACTS ON K-12 AND RUSD August 16, 2012.

Cuff Account Dashboard

Funding Proposal Carolinas District Kiwanis International Bev Martin, Governor May 18, 2005.

Pooled Fringe Benefit Rates Proposed Implementation Plan Clemson University February, 2006.

University of Georgia External Affairs Division Office of Financial Services Spending Budgets Arch Foundation for the University of Georgia The University.

Chapter 11 Accounting for Receivables Percentage of Sales Method Balance of Selected Accounts at Year-End (Before Adjustment) Accounts Receivable.

FY12 Budget and Caseload Update Fiscal Committee June 4, 2012.

1 Confidential The United States Postal Service Q2, FY2011 Financial Update May 25, 2011 Joe Corbett Chief Financial Officer & Executive Vice President.

BUDGET ANALYSIS AND REVIEW COMMITTEE (BARC) Report to ALA Executive Board Council Membership Planning and Budget Assembly ALA CD #

Long Term Investment Portfolio Annual Review – FY 2011 September 8, 2011.

Policies and Procedures for Summer Supplements on Federal Awards April

Public Behavioral Health Policy and Fiscal Updates California Institute for Mental Health (CiMH) Behavioral Health Financial Managers' Fiscal Leadership.

FY12 Budget and Caseload Update Fiscal Committee December 5, 2011.

Initiative 1100: Summary & Impact 1 Rick Garza Deputy Administrative Director.

Budget Update January 14, /14/ Non-Construction Local Sales Tax Month 3 Year Average FY2010 Budget FY2010 Actual% of Budget Projected FYE.

Improving the world through engineeringwww.imeche.orgImproving the world through engineering Budget Update.

Fund Balance Policy Actions/Procedures Dr. Rodney Thompson, Superintendent Mr. Brantley Thomas, Chief Financial Officer September 23, 2014 Berkeley County.

Merit Program  Overview – General Information  Employee Eligibility  Merit Allocation Pools & Funding  Merit Awards, Process, Rules  Draft.

Tax Anticipation Notes Presented to the Finance Committee June 5, 2015.

School Funding 101 Understanding School Funding Terms and Concepts.

Annual Financial Report Fiscal Year CEANY FY2015 FINANCIAL SUMMARY * Actual reflects cash basis of accounting Budget Actual to Date Budget vs. Actual.

FY12 Budget and Caseload Update Fiscal Committee April 2, 2012.

 Major Budget Policy Issues and Outlook o Tuition and Financial Aid o Endowed, Contract, Professional o Endowment Payout o Salary Improvement Plan 

FY 2014 Budget / Actual Performance through November 2013 John W. Lawson Chief Financial Officer January 9, 2014.

Big Walnut Local School District Monthly Financial Summary May 2015.

FY12 Budget and Caseload Update Fiscal Committee January 9, 2012.

City of San Diego Retiree Medical Proposal City Council Presentation May 13, 2011.

This is an example text TIMELINE PROJECT PLANNING DecOctSepAugJulyJuneAprilMarchFebJanMayNov 12 Months Example text Go ahead and replace it with your own.

Budget and Caseload Update Policy and Fiscal Committee January 3, 2011.

Cash Flow Management and Budgeting for Beef Production An Sci 426.

Financial Report through Q4 FY2014 Preliminary Year-end Results December 3, 2014.

1 EASTERN MUNICIPAL WATER DISTRICT Fiscal Year 2015 / 16 First Quarter Enterprise Performance Measures Update John Ward Director of Engineering.

Labor Burdens and Indirect Costs Prepared by – Rosette Mace and Jim Wollwert, Accounting 17 July 2015.

Quarterly Certification Automation Project

Introduction to Accounting Preparing for a User’s Perspective

FY13 Budget and Caseload Update Fiscal Committee October 1, 2012

Financial Area Representatives

Reading Endowment Fund Financial Statements

General Fund Fiscal Year Mid-Year Budget Review

FY18 Mid-Year School Financial Review January 17, 2018

Copyright 2013 Jitasa - Confidential - For Internal & Approved Use Only

FY12 Budget and Caseload Update Fiscal Committee February 6, 2012

Cash Flow Budgeting: Chap.13

FY13 Budget and Caseload Update Fiscal Committee November 5, 2012

Study 4 – Business Income Forms: Sum Insured; Loss Settlement

Endowment Payout Process

The Society of Women Engineers

FY 2019 Close Schedule Bi-Weekly Payroll governs close schedule

2009 TIMELINE PROJECT PLANNING 12 Months Example text Jan Feb March

Financial Liquidity Management

Income Current [Month] Expenses for Current [Month]

IFTA, Inc. Financial Report

Setting Budgets.

University Budget Review and Update.

Finance Committee Executive Committee January 4, 2018.

2009 TIMELINE PROJECT PLANNING 12 Months Example text Jan Feb March

Part 4 Chapter 3.

Presentation transcript:

Fiscal Year 2014 Endowment Payout Process Change Posted July 2013

Confidential Stanford University Confidential Stanford University Drivers of the FY’14 Changes  Collaborative effort involving  Office of the VP for Business Affairs  Financial Management Services  Budget Office  Administrative Systems  Office of Development  Goals  Identify the simplest solution that works for the majority of funds  Eliminate “confusing” shortfall process (liquidation of shares)  Better align cash and accounting tracks  Make it easier for fund holders to effectively budget/forecast allocated payout Financial Management Services2

Confidential Stanford University Confidential Stanford University What Changed – Payout Timing & Process Financial Management Services Pre-FY’14 Sep OctNovDecJanFeb MarAprMay JunJulAug Annual Payout Allocation to Income Funds ( # shares X payout per share ) Sell Shares to Cover Shortfall Annual Payout Process (“Shortfall”) $12k Beginning FY’14 Sep OctNovDecJanFeb MarAprMay JunJulAug $1k Monthly Impact to Share Value No Sale of Shares No Impact to Spending Flexibility Monthly Payout = # shares X payout per share 12 3

Confidential Stanford University Confidential Stanford University Financial Management Services Pre- FY’14 Sept 1,000 X $300 =$300, X $300 =$288,000 Aug Impact on Number of Shares & Share Value Sell Shares To Cover Shortfall Share value declines by $1/month as payout is distributed Annual $12K Payout Allocation Nov 1,000 X $298 =$298,000 Oct $1K Aug 1,000 X $288 =$288, $1K 1,000 X $297 =$297,000 Nov $1K Dec 1,000 X $296 =$296,000 $1K Example: Fund value = $300K (1,000 shares, $300/share). Annual Payout = $12/share; Monthly Payout $1/share 1,000 X $299 =$299,000 $1K Beginning FY’14 Sept 1,000 X $300 =$300,000 4

Confidential Stanford University Confidential Stanford University Summary of Changes AttributeCurrentNew Annual Payout DeterminationNo Change Spending FlexibilityNo Change Payout Timing Annual (estimated November; actual August) Monthly (actual distribution; no August shortfall ) Source of Payout Sale of Merged Pool Shares at Year-End (reduction in number of shares) Monthly “Dividend” from Merged Pool Shares (reduction in share value) Reporting Maximum annual amount posted in November Actual payout posted monthly with anticipated remaining and annual payout noted 5Financial Management Services

End