KEMID Tab

This tab contains the basic attributes for an endowment accounttitle, account purpose, date the account was created, restrictions on the use of funds or types of transactions that can be initiated for the account, and more. One and only one KEMID record may be created per e-doc.

KEMID tab definitions:

Title

Description

KEMID

May be either required or system-generated when you initiate the e-doc; display only when the e-doc is in edit mode. A KEMID identifies a specific set of funds held by your institution as an endowment or a specific set of funds functioning as an endowment.

Short Title

Required. An abbreviated title for internal reporting use.

Long Title

Required. The full title for the endowment. This title may be determined by the donors and/or department. It is part of the signed endowment agreement and is used in all correspondence with the university and donors.

Date Opened

Display only. Defaults to the associated value in the restriction code in your institution’s PEND (Pending Completion) Agreement Status Code record.

Date Established

Required. The date the original account was established for the benefit of the university. Enter the date or select it from the calendar Description: cal.

Type

Required. The group to which this KEMID belongs for reporting purposes. Your university’s groupings might include University General Endowed Funds, Discretionary Funds, and Expendable Funds. Use the lookup Description: _searchicon.gif to find the appropriate type. This value must already exist in the system.

Type Description

Display only. Your institution’s description of the type specified.

Income Restriction

Required. The type of restriction (if any) that affects transaction processing for the endowment’s income. Select the appropriate value from the list.

Principal Restriction

Required. The type of restriction (if any) that affects transaction processing for the endowment’s principal. Select the appropriate value from the list.

Purpose

Required. Specifies the allowable uses of this endowment fund. Examples at your institution might include Scholarships, Professorships, Chairs, and/or General Use. Enter the code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Purpose Description

Display only. Your institution’s description for the purpose code specified.

Income CAE Code

The appropriate Council for Advancement in Education (CAE) code for use in reporting based on the intended use of the KEMID’s income. Enter the code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Income CAE Code Description

Display only. The description associated with the income CAE code specified.

Principal CAE Code

The appropriate Council for Advancement in Education (CAE) code for use in reporting based on the intended use of the KEMID’s principal. Enter the code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Principal CAE Code Description

Display only. The description associated with the principal CAE code specified.

Responsible Department

Required. The department or group responsible for administering the KEMID. This is not the department or organization that is the beneficiary of the funds. Enter the code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Responsible Department Description

Display only. The familiar name of the responsible department.

Transaction Restriction

Required. The set of rules that is to govern allowable transactions for the KEMID. Defaults to the associated value in your institution’s PEND (Pending Completion) Agreement Status Code record, but you may enter another code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Transaction Restriction Description

Display only. The description for the transaction restriction specified.

Cash Sweep Model

The ID code of the cash sweep model that is to control the periodic sweeping of uninvested cash into short-term investment vehicles. Each KEMID may be associated with only one cash sweep model that controls separate investments in the KEMID’s income and principal.

Cash Sweep Model Description

Display only. Your institution’s description of the cash sweep model specified.

Income Automatic Investment Model

The automated cash investment model to be used for income for this endowment fund. This value defaults from the Type record, but you may enter another code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Income Automatic Investment Model Description

Display only. Your institution’s description of the income investment model specified.

Principal Automatic Investment Model

This is the automated cash investment model to be used for the principal for this endowment fund. This value defaults from the Type record, but you may enter another code or use the lookup Description: _searchicon.gif to find it. This value must already exist in the system.

Principal Automatic Investment Model Description

Display only. Your institution’s description of the principal investment model specified.

Dormant Indicator

Display only when you create the e-doc; editable when the e-doc is in edit mode. Indicates whether this KEMID is dormant. If a KEMID is dormant, it has not processed any disbursements for a period of time determined by your institution.

Defaults to ‘No’ when you create the KEMID, but you may check the box to change the indicator to ‘Yes’ when the screen is in edit mode.

Closed Indicator

Indicates whether this KEMID is closed. Defaults to ‘No’ when you create the KEMID, but you may change it.

Warning!You cannot mark a KEMID record as closed if the KEMID has open current cash records (records with values greater or less than zero).

Warning!You cannot mark a KEMID record as closed if the KEMID has holding tax lot records with values greater or less than zero in the Holding Units, Holding Cost, and/or Accrued Income Due field.

Closed to KEMID

Display only when you initiate an e-doc. For a closed KEMID, indicates the KEMID to which funds were moved when this KEMID was closed.

Reason Closed

Display only when you initiate an e-doc; may be edited in edit mode. The reason for closing this KEMID. Examples include ‘Terminated,’ ‘Expended,’ ‘Merged,’ and ‘Refunded to Donor.’ Enter the appropriate value or use the lookup Description: _searchicon.gif to find it.

Disposition of Funds

Display only when you initiate an e-doc; may be edited in edit mode. Additional comments as needed regarding the closure.

Date Closed

Display only when you initiate an e-doc; may be edited in edit mode. Entry is valid only if the Closed Indicator field is set to ‘Yes.’

More:

Agreement Tab