HSC OP 50.24 Distribution of Interest Earnings

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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