I want to set up my endowed scholarships on FE and be able to allocate the pool of interest to each. Only 80% can be awarded. How are other schools setting this up.

 We have ours set up as projects that are tied to temp and perm restricted funds. we transfer to UR the awarded part annually

We have a number of endowed scholarships.  Since we do not have the project module, each endowed scholarship is set up as a separate fund with an account for the corpus and an account for the earnings.  The interest is posted to that earnings account and scholarship payments are made from the earnings account.

We use a separate project to identify each scholarship and endowment fund.  We use the Allocation Management module to allocate the interest to each fund.  We also use this module to allocate unrealized gains and losses for each period.

 We use the project module and have each endowed scholarship as a separate permanently restricted fund.  Each of those has a related separate project/scholarship temporarily restricted fund.  Our endowment spending policy is tied to the pool, so the interest is initially all posted as temporarily restricted revenue.  The amount allocated from the pool is then posted as revenue to the individual temporarily restricted funds.  That's where the movement of funds occurs, with the monies transferred to unrestricted as a release of program restriction for the actual payment of the scholarship awards.

We use most of BB's modules except for the investment allocation module.  Instead we have a fairly simple excel spreadsheet in which we allocate the earnings, spending, unrealized and realized gains/losses on a beginning per unit allocation basis.  We then post to individual asset accounts to track the earnings, withdrawals, gains/losses separately to our restricted accounts.  It works fine for us as I have it set up to import the monthly earnings, etc. to a journal entry.   We initially set up the worksheet allocating $100 per unit so that if a burse had $10,000 balance, it received 100 units.  This worksheet is then carried forward month to month giving us an ongoing per unit value for our investment pool.  If you would like to see an example with formulas, I will be happy to email it to you.

Cecelia Hamilton

Saint Meinrad School of Theology