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857 Institution of Higher Education - Annuity and Life Income Account

Account code: 857
Account title: Institution of Higher Education - Annuity and Life Income Account
Administering agency: LCL0 - Locally by each agency
Fund type: EA - Permanent Funds
Roll-up fund: EA - Higher Ed Endowment & Other Perm Funds
Cash type: 3 - Local Fund
SAAM budget type: Nonappropriated/Nonallotted (N)
Interest earning authority:
Authority: RCW 43.88.195
Closing GL Code: 9230
Description: This account is to provide for the administration of annuity and life income trusts established pursuant to deeds of donation to colleges and universities. Used to make periodic payments to beneficiaries of such annuities and trusts, as well as miscellaneous expenditures for utilities, insurance, interest and other administrative expenditures.
Sources of revenue: Charges and Miscellaneous Revenue, Interest Earnings
Clientele: Colleges and universities; public donors to higher education
Effective date:
Inactive date:
Notes: