Financial Services Division
Report Description
Report Name
Report Number
Trust & Endowment Statement of Income, Expenses and Fund
Balance
10814
Report Description/Purpose
This report replaces the manually prepared trust and endowment statements previously
distributed by Financial Reporting on an annual basis. This statement summarizes
trusts and endowments in the same format, denoting the nature of the fund in the report
header.
Endowment:
An endowment is comprised of a donation that cannot be spent, the
investment earnings not available to be spent and the expendable
portion of the fund. Only the expendable portion can be spent in
any year.
Trust:
A trust is usually a donation where the entire amount provided can
be spent, subject to the terms specified by the donor. In some
cases the terms will limit the amount available to be spent.
This report will provide a two-year summary of the spendable and endowed component
of funds where applicable. All funds that are allocated interest through the Spendable
Income Account (57005) should be available on this report, organized by the spendable
fund number. Where an endowment is associated with a spendable fund, the
endowment will be included in the report and both the spendable and endowed fund
numbers will be noted in the title.
Intended Audience
Individuals responsible for the management of trust or endowment funds and have
access to view those funds in UniFi. This report will show all funds that a user has
access to in UniFi.
Report Availability
This report is updated annually after the budget has been recorded to UniFi (normally
late May.)
Report Elements
The report summarizes the most recent two years of activity divided into three sections.
The first section starts with the Beginning Fund Balance, which is the total balance in
the fund(s) at the beginning of the year. The details in this section summarize the
donation, investment earnings, expenditures and transfers into the fund(s) during the
year. The Total Fund Balance summarizes this activity at the end of the fiscal year.
The next section is the Fund Balance Composition which restates the Total Fund
Balance into three components:
Financial Services Division
Report Description
Expendable:
This is the portion of the funding that available to be spent.
For an endowment, this summarizes the balance available in the
spendable fund.
For a trust, this summarizes the unspent balance, which may be
subject to terms limiting the amount that can be spent in a year.
Segregated Capital: This is only shown for endowments, and reflects the portion of
interest earnings that are not available for expenditure.
Contributed Capital: This is only shown for endowments and reflects the donations or
contributions that can never be spent.
The last section of the statement summarizes the Balance Available for Spending for
the coming fiscal year. This is made up of two components:
Funds available as at April 30: This reflects the fund balance available in the trust or
the expendable fund (for an endowment) and should agree with the
amount shown in the Expendable line above.
Budget:
For funds subject to a spending allocation, this amount is the
spendable allocation that will be provided during the coming year.
This amount will be provided monthly as spendable income during
the coming year.
Total funds available for spending: This is the total of the spendable balance at April 30
plus the budgeted amount for the coming year.
Some funds have unique situations that limit the amount of the spending allocation or
have other restrictions on the trust or endowment. Where these exist, you will see a
Note section at the bottom of the statement.
Additional Notes
Since this is an automated report, there are some exceptions that cannot be reported in
this manner. Where that arises, instead of seeing a statement, you will get a message
that you need to contact Financial Reporting to have a statement prepared.