Community Exchange

Hello, the monthly interest earnings are deposited into their operating bank account. On a quarterly basis, we manually reallocate these earnings across hundreds of departments, grants, gifts, endowments, etc. I am curious to learn- how do other universities handle this same task? This is a very manual process using Excel. Do most universities reallocate interest earnings and if so, do they have a tool to use for this process? 

Thank you,

Stephanie 

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Stephanie Gwynn
Treasury Manager
Oregon State University
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So our University only allocates interest back to our grants, loans, departments, etc if they have a stipulation requiring that the interest be allocated back to the source in their agreement.  

That eliminates almost all of our requirement to allocate interest getting us down to less than 50 different sources.  We do ours monthly and it takes a staff a couple hours to do the interest report each month.  We do just end up using excel ourselves.  We're working on things that could be automated at the university with RPA and this is an item on the list, just not a high priority one.  I haven't heard of anything that could handle doing these reports that is premade.        

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Matthew Freitas
Director of Financial Reporting
University of Houston
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We use Fundriver Balance for this task and it is excellent! We switched several years ago from an Excel process and it is worth every penny.

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Andrea Jimenez
Executive Director
East Tennessee State University
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