New Reports to Manage Your Endowment Funds


As you are undoubtedly aware, the University has been focusing on ensuring that income from endowment funds gets spent in order to ensure maximum benefit for our students, staff and researchers. To support finance users in ensuring effective management of their endowment funds, we are pleased to introduce two new reports – Endowment Planning Report and Endowment Monitoring Report.

Both reports are now available on the Financial Services Reporting Website at Endowment Reports.

We have decided to launch these reports now in order to support our users as we move into FY12.  What we would suggest is:

1.      Use the endowment monitoring report to look at where your endowment funds are at currently, and project what you foresee having left at the end of FY11.  Please note that all current income that is unspent will be capitalized automatically.  Previously standing instructions to not capitalize will be cancelled.  If you wish to carryforward current year income (i.e. not have it capped),  you will have to send your request not to capitalize, along with the reasoning for this decision, including how you plan to use it, to Leah Trineer, Senior Treasury Officer,  in Financial Reporting and Endowments, by April 15, 2011 for approval of your request not to capitalize.

2.      While current endowment income not spent will automatically be capitalized, carryforwards and other sources of income (e.g. donations for direct funding awards) will not be capitalized.  If you see that there is unused carryforwards or other income being carried forward and you don’t foresee needing it, you are encouraged to capitalize these amounts in order to earn more income in the future.  You will be allowed to go back for a period of five years in order to decap income that has been previously capitalized. De-capitalization will occur at the MIP rate in effect at the time of de-capping.

3.      Use the endowment planning report to see what income you can expect from each fund for the upcoming year.  Use the expected rate of income of $13.33/unit for fiscal year 12.  (Full details of how to use the report are available on the web)

4.      Sit down with the appropriate decision maker in your faculty/departments to discuss how the income available should be used and integrate it into your budget process.  To facilitate this discussion, both reports can be ran for a) student aid only (includes medals, prizes, scholarships, bursaries and fellowships), b) endowed chairs, c) all other endowment funds and d) all endowment funds (includes all funds from the three categories.)

5.      On a quarterly basis during FY12, use the endowment monitoring report to see how you’re spending is going and if you are on track.

We hope that these reports will assist you in managing your endowment funds so that income will be spent for the benefit of our students, staff and researchers.  Further discussion of these reports will take place at the Year End Reporting and Communication Meeting on April 1st as well as the next Faculty Financial Officer meeting on April. 7th.

In the meanwhile, questions can be directed to the FIS Help Desk by email (fishelp.acct [at] or by phone at 398-3463.