HSC OP 50.24 Distribution of Interest Earnings | Texas Tech University Health Sciences Center
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Operating Policy and Procedure

HSC OP: 50.24, Distribution of Interest Earnings

PURPOSE: The purpose of this Health Sciences Center Operating Policy and Procedure (HSC OP) is to establish the standard institutional procedure for distribution of interest earnings.

REVIEW: This HSC OP will be reviewed on July 1 of every fourth year (E4Y) by the Director of Accounting Services, with recommendations for revisions forwarded to the Vice President and Chief Financial Officer by August 31.

POLICY/PROCEDURE:

All interest earned on institutional funds will be recorded in institutional accounts except the following:

a. Interest on funds in Practice Income Plans

b. Interest on funds restricted by outside agencies or persons