Financial Reporting

Campus Investment Pool Program

Memo from the Vice President

Campus Investment Pool Program,
San Diego State University

Policy Statement,
March 2, 2001

PURPOSE

The purpose of the Investment Pool Program is to provide a means of promoting the primary functions of the University through the return of maximized earnings generated by the safe and prudent investment of funds in excess of current operating need.

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General Policy

AUTHORITY

The chief fiscal officer shall establish and administer the budgetary and fiscal requirements of all local project funds (trust funds and local Special Projects funds), in accordance with the Trustee policy as documented in The California State University Investment Policy (attached) and amendments thereto.

The chief fiscal officer shall deposit into and maintain in local trust accounts, or trust accounts in the campus state treasury account, or in the CSU Trust Fund or Special Project Fund, moneys received in connection with local projects.

The chief fiscal officer shall maintain proper internal control to protect all moneys on hand and in transit to and from investment mediums. At a minimum, internal control includes adequate segregation of duties; documented investment guidelines and procedures; review of investment performance independent of portfolio management; and accounting controls to ensure proper recording and reporting.

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SCOPE

The chief fiscal officer appropriates for investment all local project funds subject to the provisions of these guidelines.

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CRITERIA

The chief financial officer (or designee) shall determine whether any portion of money within the local project funds is not necessary for immediate use and shall transfer such money for investment as provided. The pool will be managed to ensure that normal cash needs, as well as scheduled extraordinary cash needs, can be met.

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INVESTMENT

Pooled investments and deposits shall be made in such a way as to realize the maximum return consistent with safe and prudent treasury management. Moneys shall be invested in accordance with the criteria set forth in The California State University Investment Policy, amendments thereto, and subsequent direction as received from the Trustees. Written Investment Strategy reports, approved by the chief fiscal officer or designee, shall determine the level of usage of any authorized investment medium.

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STRATEGY

No less than quarterly, a written Investment Strategy Report shall be prepared for the chief fiscal officer or designee. This report shall include: investment activity for the preceding period; current cash availability for investment; current yield for available investment mediums; and recommended action. The chief fiscal officer or designee shall approve or modify recommended action by written notation.

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INCOME

Average month end balances for the period of investment for each fund in the investment pool are tracked and used to calculate a prorated distribution of interest and realized and unrealized gains and losses.

Interest income shall be distributed semi-annually and will accrue to individual accounts as determined by local project fund agreements and written direction of the chief fiscal officer or designee. For any fund or class of accounts, interest calculations and distributions may be specified by the chief fiscal officer or designee and may therefore require an adjustment to prorated distributions.

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REPORTING

A comprehensive Investment Pool Report shall be prepared no less than annually.

Approval and delegation of authority as outlined in this Investment Policy to the position of Associate Vice President, Business and Financial Affairs, Financial Operations.

Sally F. Roush
Vice President for Business & Financial Affairs

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