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1.0 PURPOSE

The purpose of this procedure is to provide guidance on the preparing and reporting of AFR Endowment Schedule and Endowment Funds transactions and to provide documentation for the audit staff.

2.0 SCOPE:

This procedure is to serve as desk procedure for transactions in between FRS and UT Systems.

3.0 DEFINITIONS:

4.0 PROCEDURES:

Documents:

Endowment Reconciliation Worksheet, and System Check sheet - Endowment and Similar funds dated August 31 of the year.

Procedure:

1. Use Endowment Reconciliation Worksheet, Final statement, to find out:
   1. Beginning balance of the Endowment (column C or D).
   2. Additions (column S):
      • Gifts (column E or F)
      • Investment income (column H or I)
      • Realized gains on investment (column L or M)
      • Others (column N)
   3. Deductions (column O or P):
      • Realized losses on investment
      • Others
   4. Ending balance of the endowment (column U or W).
2. Schedule B 6 a is reported by Funds held by:
   1. System Administration Endowment Funds/True Endowments restricted:
      • Instruction
      • Research
      • Public Service
      • Academic Support
      • Student Services
      • Institutional Support
      • Scholarships and Fellowships
   2. Quasai Endowments: Restricted and Unrestricted Funds
      • Research
      • Public Service
      • Academic Support
      • Scholarships and Fellowships
      • Instruction.
      • Student services
      • Instituitional Support
3. Add beginning balance, Additions, Deductions, Ending balance of each endowment category.
4. Ending balance for both total endowments and the System Check Sheet should now balance.
5. Analysis of the investment income:
   • Increase in fair value of investments
   • Realized gains on investments
6. Analysis of other additions and deductions:
   • Transfer from current restricted funds
   • Transfer from loan funds
   • Transfer from designated
   • Record maturity of note
   • Intrafund transfers
   • Transfer from Plan Funds
   • Other fund Additions/Deductions

5.0 RESPONSIBILITIES

6.0 ATTACHMENTS