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Fund 859

Fund Reference Manual

859-Institutions of Higher Education - Endowment Local Account

Account Code:
859
Account Title:
Institutions of Higher Education - Endowment Local Account
Admin Agency:
Locally by each agency - LCL0
Fund Type:
EA - Permanent Funds
Rollup Fund:
EA - Higher Ed Endowment & Other Perm Funds
Cash Type:
3 - Local Fund
SAAM Budget Type:
Nonappropriated/Nonallotted (N)
Interest Earning Authority:
N/A
Authority:
Closing GL Code:
9230
Description:
This fund is composed of gifts and bequests which the donors have specified must remain intact. Each gift is governed by various restrictions on the investment and use of the funds. Income from the investment of these funds is transferred each year for disbursement in accordance with the terms of the respective gifts or bequest.
Sources of Revenue:
Charges and Miscellaneous Revenue, Interest Earnings
Clientele:
Institutions of higher education
Effective Date:
Inactive Date:
Public Notes: