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Systemwide accounting procedures

Accounting Integrated Statewide Record System procedures

Recording Investment Purchases and Sales

Investment purchases and sales should be recorded directly to the general ledger in the appropriate investment category. The following entries should be used.

Investment Purchase (for example - Certificate of Deposit)

If purchased via electronic transfer enter an EG on the AC0226UG screen. If purchased by check enter a PG on the AC0219UG screen.

Investment Sale (for example - sale of a Certificate of Deposit with interest)

GENERAL LEDGER BALANCES

The general ledger should show the particular type of investment held by your institution. The balances must agree with your detailed investment records.

Pooled Investments

Institutions should invest the excess balances in their local banks. An investment could consist of the excess cash balances of many general ledgers. It would not be feasible to record a portion of the investment in each general ledger. Instead, you should establish a general ledger in the Pooled Investment Fund (MnSCU Fund 990) and record the investment in that general ledger. No entry is necessary in other funds. However, if you wish to record each general ledger's share of the pool, then make the following entry:

Participating Fund General Ledger

Record Cash sent to Pooled Investment General Ledger. If general ledgers are in different banks enter a PG on the AC0219UG screen. If general ledgers are in the same bank enter an EG on the AC0226UG screen.

Pooled Investment General Ledger (for example - Certificate of Deposit)

Record Cash received from participating general ledger

Investment Purchase - If purchased by electronic transfer enter an EG on the AC0226UG screen. If purchased by check enter a PG on the AC0219UG screen.

If you have questions or comments please email us (accounting@so.mnscu.edu) or refer to the staff directory link at the top of this page for additional contact information.