331xxx-333xxx: Investment Income | Accounting

I. GENERAL

Interest, dividends, or rental income resulting from the investment or lending of University funds should be recorded in this series of G/L accounts. Gains and losses realized on the sale of investments are not recorded in these G/L accounts, but are recorded in the gain/loss G/L accounts of the 34xxxx, Other Revenue series.

The spendable portion of investment income earned on Endowment Funds is transferred annually to a Current Unrestricted, Current Restricted, Loan or Plant fund. This transfer is done by charging G/L account 332900- Income Distributed (Contra) on the Endowment fund and crediting a 31xxxx, Endownment Income G/L account on the receiving cost object.

II. G/L ACCOUNT DEFINITIONS

331000 Interest on Notes Receivable - Valid for: DUHS, Univ

Represents interest income received on student loans, Duke Homesites notes, and other notes receivable.

332000 Investment Income: Pools - Valid for: Investment Office Only

Represents interest and dividends earned on the pooled investment funds and distributed on a prorata basis.

332001 Investment Income: IRA - Valid for: DUHS, Univ

332002 Investment Income: Intermediate Term Pool - Valid for: DUHS, Univ

332003 Investment Income: Long Term Pool - Valid for: DUHS, Univ

332004 Investment Income from Specific Investments - Valid for: DUHS, Univ

To establish an account for Investment Income from the DUHS Completion Pool.

332030 Regular Defined Income - Social Choice Pool - Valid for: Univ, DUHS

The Social Choice Pool (SCP) has been setup as an alternative to the Long-Term Pool investment. Therefore, these distributions are distinct from the LTP distributions.

332100 Interest Income: Internal - Valid for: Investment Office Only

Represents revenue earned from overdrawn University funds, which had to be covered by general operating funds of the University. This G/L account is credited as an offset to G/L account 695100, Interest Expense-Internal.

332102 Internal Loan Interest Income - Valid for: Univ

Represents revenue earned from internal University loans.

332200 Investment Income: Specific - Valid for: Investment Office Only

Represents investment income from "Specific" (non-pooled) investments.

332201 Investment Income: Debt Service Reserve - Valid for: DUHS

Represents the income on the debt service reserve fund.

332203 Investment Income: Specific - Valid for: DUHS

332300 Interest - Valid for: Univ

332335 Net Patient Interest and Fees - Valid for: DUHS, Univ

This is used solely for interest related to the patient accounting cycle.

332400 Dividends - Valid for: Univ

332800 Income to Principal (CONTRA) - Valid for: Investment Office Only

This G/L account should be used only in Endowment Funds to allocate investment income to the principal of the endowment fund as provided in the terms of each endowment agreement.

332801 Gain to Principal (CONTRA) - Valid for: DUHS, Univ

This G/L account should be used only in Endowment Funds to allocate investment gain to the principal of the endowment fund as provided in the terms of each endowment agreement.

332803 Income to Principal (CONTRA) - Valid for: DUHS

332900 Income Distributed (CONTRA) - Valid for: Investment Office Only

This G/L account is used in the Endowment Funds to allocate investment income to expendable funds as provided in the terms of each endowment agreement. It is also used in the pooled investment funds to distribute income to investment pool participants.

332901 Renewal Distribution (CONTRA) - Valid for: Univ

332903 Income Distributed (CONTRA) - Valid for: DUHS

333000 Investment Income Reclass to Operations - Valid for: DUHS