• ■ Explanations for any reconciling items with instructions for corrective actions to be taken to resolve, if they cannot be resolved before month-end system close.
• ■ Documentation of management communication on follow up items that have not been resolved by the next reconciliation, i.e., all reconciling items should be resolved by next month's reconciliation; no items should be carried forward more than one month.
• ■ Preparers' electronic, time-stamped signature.
• oSubmit reconciliation package to the Controller for review.

Endowment Investment Reconciliation

The investment brokerage firm tracks the value of each endowed fund separately within the pooled endowment investment account. Any new endowed funds must first be assigned a new FUND code in Banner and a unique designation in the investment account.

Responsible position(s):

• Senior Accountant

Required documents and access:

• Investment account statements
• Banner - general ledger access

Frequency and timing:

• Monthly, by the 10th of the month, before soft close

Steps:

• Obtain investment account statements from the controller or download directly from the investment account including:
• Verify that investment beginning balances tie to prior month's ending balances in the ledger.
• oSchwab investment statement
• oNew Excel Workbook linked to Statement
• oNew Excel Statement Values
• oRun FGRFAAC Fund/Account Activity Report
• Printer: Database
• Fiscal Year: current year
• ■ Chart of Accounts: 1 (defaults)
• As of Date: month-end date
• Include Accrual for Last Prd.: Y
• From Account: 131011 Pooled Endowment Investment
• To Account: 131011 Pooled Endowment Investment
• Next Block, Save
• oRelated > Review Out > select fgrfacc_XXXXXXX.lis file
• oTools > Show Document (Save and Print File) > View in Browser – Yes