Changes to Distribution of Short Term Investment Pool (STIP) Income

11/30/2011

In conjunction with Office of the President's fiscal year 2011-2012 changes to its distribution of Short Term Investment Pool (STIP) income and charges, the campus' distribution and accounting methods will reflect the following changes:

• The frequency of the STIP distribution will be changed from quarterly to monthly. Because programming changes were needed to implement this change, the monthly distributions of STIP for July through October will be recorded in BFS in November. The monthly distribution of STIP for November will be recorded in BFS in December and so on thereafter. Please note that the distributions continue to be on an in-arrears basis.
• The actuals financial accounting for the distributions will be changed from a fund balance account to a revenue account – 49219 STIP Income Distribution. The Dept_ID for STIP income or charges distributed to individual funds will be recorded in the primary Dept_ID value of the source fund rather than an alternative department designated value.
• Consistent with the actuals accounting for STIP income or charges distributed to individual funds, the TempBudg entry will also use the primary Dept_ID value of the source fund. In addition, the offsetting TempBudg posting to account 58000 Unallocated will also the primary program code associated with the source fund rather than an alternative department designated value.

Other aspects of the STIP distribution and accounting for current funds will remain the same.

We are in the process of updating the campus' policy, Distribution of Income from UC Regents' Short Term Investment Pool (STIP), and will notify you when the updated version is available.

Please contact General Accounting at gao@berkeley.edu if you have any questions.