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Short Term Investment Pool ~STIP~ Overview

Short Term Investment Pool ~STIP~ Overview. UCSF-UC Budget Conference October 22-23 2007 Angela Hawkins & Morissa Gleichenhaus. Introductions. Name Organization Primary STIP interest Concept Operations Strategy Specific question. Agenda. STIP Concept UCOP STIP Group Codes & Funds

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Short Term Investment Pool ~STIP~ Overview

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  1. Short Term Investment Pool ~STIP~ Overview UCSF-UC Budget Conference October 22-23 2007 Angela Hawkins & Morissa Gleichenhaus UCSF Budget and Resource Management

  2. Introductions • Name • Organization • Primary STIP interest • Concept • Operations • Strategy • Specific question UCSF Budget and Resource Management

  3. Agenda • STIP Concept • UCOP STIP Group Codes & Funds • STIP Distribution Process at UCOP • STIP Distribution Process at UCSF • STIP Management • Campus Corral • QA UCSF Budget and Resource Management

  4. STIP Concept • The Short Term Investment Pool (STIP) is the interest earned on cash balances transferred nightly to UCOP. • UCSF cash balances are aggregated with all UC cash balances and managed at UCOP as a single pool. • The resulting STIP is proportionally distributed at the end of each quarter based on average monthly balances. UCSF Budget and Resource Management

  5. UCOP STIP Group Codes & Funds UCOP STIP Computation Mapping Process • STIP Organization – Groups and Subgroups • Campus Mapping -- Ledger to STIP Groups (Reports) • Allocation of General Ledger Balances to UCOP STIP Funds Report (376A) • Manual Adjustment Schedules (Adjustment Reports) • Distribution of STIP Income to UCOP STIP Funds by Fund Group Based on Fund Balances (3851) • Cash Balances and Distribution of Income from STIP Report (Anne Broome) UCSF Budget and Resource Management

  6. STIP Groups and Distribution Principles UCSF Budget and Resource Management

  7. STIP Organization – Groups and SubgroupsGroups with Subgroups including OP STIP Funds • STIP Groups are divided into subgroups UCSF Budget and Resource Management

  8. STIP Organization – Groups and SubgroupsGroups with Subgroups including OP STIP Funds • Subgroups include ranges of STIP Funds (Handout shows UCSF ranges) UCSF Budget and Resource Management

  9. Monthly reports translating campus accounts to UCOP STIP Funds General Ledger to STIP Fund 376A UCSF Budget and Resource Management

  10. Monthly reports adjusting UCOP STIP Funds Adjustments by STIP Fund UCSF Budget and Resource Management

  11. Quarterly report showing monthly balances and resulting STIP Distribution Report STIP Fund Average 3851 UCSF Budget and Resource Management

  12. STIP Distribution Process at UCOP Campus variances • Campus Profiles – Compare Step 3 Balances: Group 1: Students, Student Fees, 19900 appropriations Group 2: Volume of Gifts & Endowments Group 3: Campus Medical School & Unexpended Plant (Financed Capital Projects) Group 4: Volume of Federal Funds Group 5: Other Current, Loan and Plant funds (Is Fed AP identified to fund id?) • Subgroup Relationships Question: Are Federal AP identified to fund ID’s? Answer: If Yes, Group IV balance is reduced; if No, Group V Accounts Payable and Other Balance Sheet Items is reduced. UCSF Budget and Resource Management

  13. STIP Distribution Process at UCOP – Step 3 HANDOUT STEP 3 UCSF Budget and Resource Management

  14. STIP Distribution Process at UCSF Determined by Group • Group 1– No Allocation all STIP kept by OP • Group 2 – Directly Distributed by OP • Group 3 – Hospital distributed per a separate agreement; Medical Comp Plan computed by OP comes to campus for distribution (normally positive) • Group 4 – Negative Balance reduces allocation to campus (normally negative) • Group 5 – Allocated by a Separate Campus Program to Unit Account controlling the balance including Chancellor • HOW DOES YOUR CAMPUS DIFFER?? DOES THE TREATMENT INCENT FISCAL ATTENTION TO CASH BALANCES BY THOSE CONTROLLING THE BALANCES? UCSF Budget and Resource Management

  15. STIP Management • Day to Day Activities in Accounting Offices • Review Deficit balances • Consider month end balances and Time Draws accordingly (Payroll) • Attend to new fund set up to appropriate Account and UCOP Fund Group Code • Budget Office / Controllers Office Coordination • Regular communications related to coding new funds • Resolve distribution issues • Review Trends and understand anomalies UCSF Budget and Resource Management

  16. Training Department Staff • Explain consequences of both positive and negative fund balances • Talk to Control Points • Messages to Departments • Spend Non-STIP earning funds (19900, 0pportunity Funds, etc.) before STIP earning funds • Issues with fund balances in deficit • Restrict carry forward balances of 19900, Opportunity Funds, etc. UCSF Budget and Resource Management

  17. Campus Corral What is the status, sophistication of each campus in the following: Consider why your campus does things differently. Can you identify a justification/ rationale? Can you take steps to improve your STIP return? • Processes (relationships, management) • Tools (Distribution, tracking, other) • Operations (Reports, Transfers, Communications) • Policy (Written, formal process) • Plans (Tracking, Changing systems, Forecasting) UCSF Budget and Resource Management

  18. QA UCSF Budget and Resource Management

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