10xxxx: Pooled Cash

To facilitate the management of cash and certain temporary securities of the University, a consolidated pool is used for the deposits and disbursements of all cash received from the various activities of the University. This pooling of the liquid assets in the Pooled Cash and Securities fund maximizes the control and utilization of the liquid assets held by the University. Each individual participating fund has an equity in the consolidated pool based on their residual pro rata contribution (i.e., the net of each fund's deposits and disbursements of cash).

No entry should be recorded using the G/L account 100000, Equity in Pooled Cash and Securities, except in an unusual situation which has the prior approval of the Senior Director, Controller's Division. Normally, all entries to this G/L account are system generated on a daily basis.