The Update Corpus Records process allows your institution to maintain a record of the portion of true endowments that are considered permanently restricted (‘corpus’), including the actual gifts and any earnings that donors require your institution to reinvest. Through this process, the system updates corpus value records in two tables—Current Endowment Corpus and KEMID Corpus Value.
Basic processing includes the following.
• On the last day of your institution’s fiscal year, the endowment corpus value is stored as the prior fiscal year end corpus value.
• On the first day of the fiscal year, the system resets the values in both tables by copying the current corpus values to the prior fiscal year values and copying the current principal values to the prior fiscal year end principal market values. These values are used as a quick reference to the year-end corpus value.
• On subsequent days throughout the current fiscal year, the system accesses the transaction archive records for each KEMID and totals the corpus amount. Then it adds this total to the current corpus value in the Current Endowment Corpus and KEMID Corpus Value records.
• The process also updates the current principal market value in the records by copying it from system’s current balance values. This value is used as a quick reference to the current corpus value.
The process is run daily. It must be scheduled to run after all other post, update, and create batch processes and before the Roll Process Date process to ensure that all values are accurate.