Based on your feedback, we’ve modified the accounts used for quarterly endowment distributions so that they’re easier to find and understand. Beginning with your September statements, receipt of your unit’s endowment spending rate distributions will appear in one account (420200), which has one clear description: Trf of Endowment Distribution.

This streamlined approach will also be used in the Endowment Fund itself. Endowment distributions from the Endowment Fund, for the transfer out of the endowment spending rate distribution, will be located in one account (624871), with the description: Endowment Distribution.

Prior to this change, endowment spending rate distributions utilized two separate account numbers—one for the portion of the distribution whose source was investment income and the other for the portion of the distribution whose source was realized gains.

The table below shows how the new approach will look on your statements.

If you have any questions about this change, please contact your Financial Operations accounting services coordinator directly or via the group email at AccountingServicesCustomerService@umich.edu or myself at clsoper@umich.edu. Your ongoing feedback enables us to continuously improve our customer service and accounting processes. Thank you for your support.

Cheryl Soper
Controller & Director of Financial Operations