It is important to understand how to read and understand how Endowments come through in Workday, so you can understand your reports and your account certifications.
Endowments are managed in Fundriver. You can find more about Fundriver HERE. Any endowment investment activity comes into Workday via an integration from Fundriver. If you pull an Endowment Gift account in the General Ledger Details report, you will see activity with the journal source Fundriver. You will see the LTP or Long-Term Pool activity for the month moving the gains or losses from the 4400: Investment income ledger account into the 1200: UVIMCO LTP Pooled Endowment ledger account. Essentially, this is rolling the gains or losses back into the investment. You will also see movement between ledger accounts for the different fees associated with the Endowment. The funds you see in these ledger accounts are not spendable endowment distribution. This is all managed by Central Finance. You will see the 4400: Investment income ledger account on your Account Certification, but do not need to review these lines. The 1200: UVIMCO LTP Pooled Endowment ledger account lines do not appear on the Account Certifications.
Image: A Portion of General Ledger Details Report for an Endowment Gift account.
Now let’s talk about the spendable endowment distribution.
In July, the full amount of the fiscal year’s distribution will be put into the 2996: Endowment Distribution Payable ledger account. Then 3 times a year a portion of the funds are moved into a spendable ledger account, 8905: Non-Mandatory Transfer - Endowment Distribution. In September and December, one quarter of the year’s distribution is dispersed. Then in March, the remaining half is dispersed. Once the endowment distribution is in 8905: Non-Mandatory Transfer - Endowment Distribution it will be available to spend and will show in Fund Balance reports.