Roles and Responsibilities - Endowment Management

Section:   Endowment Management	Number:  45.001
Title:  Roles and Responsibilities - Endowment Management

POLICY

• .100 POLICY STATEMENT
• .110 POLICY RATIONALE
• .120 AUTHORITY
• .130 APPROVAL AND EFFECTIVE DATE OF POLICY
• .140 KNOWLEDGE OF THIS POLICY
• .150 DEFINITIONS
• .160 HIGH LEVEL ROLES AND RESPONSIBILITIES
• .690 CONTACT INFORMATION
• .695 HISTORY

APPENDIX

• None.

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.100  POLICY STATEMENT 

The policy sets forth high-level Endowment Management roles and responsibilities for the Chancellor's Office and the Institutions.

.110  POLICY RATIONALE

OUS seeks to ensure that the high-level roles and responsibilities of the Chancellor's Office and the Institutions related to Endowment Management are documented, communicated, and clearly understood and applied.

.120  AUTHORITY

• ORS 351.085 - Duties and Powers of Chancellor
• OAR 580-040-0005 - Delegation and Assignment of Responsibility
• IMD 6.001 - Finance and Business Affairs Accounting Policies - Assignment of Responsibility
• IMD 6.002 - Finance and Business Affairs Accounting Policies - Institutional Responsibility

.130  APPROVAL AND EFFECTIVE DATE OF POLICY

Approved by the Budget and Finance Committee of the Board on 2/15/02 as part of the Fiscal Accountability Framework Final Report.  The effective date of the policy is 3/1/02.

.140  KNOWLEDGE OF THIS POLICY

All Chancellor's Office and institutional personnel with endowment management and related responsibilities should be knowledgeable of this policy.

.150  DEFINITIONS

None.

.160  HIGH LEVEL ROLES AND RESPONSIBILITIES

A.  CHANCELLOR'S OFFICE

High level roles	High level responsibilities
Investment Strategy	Works with external consultants to develop an investment strategy.  Presents this strategy to the Investment Committee of the Board and to the Oregon Investment Council for approval.
Investment Reporting	Prepares investment reports to the Board and the Oregon Investment Council and institutions.
Managing Endowments	Receives and pools both endowments and interest on endowments centrally.  Establishes and manages endowments as directed by the donors.
Distribution of Endowment Earnings	Responsible for the calculation and distribution of endowment earnings on a monthly basis.

.690  CONTACT INFORMATION

Direct questions about this policy to the following offices:

Subject	Contact
General questions from institutional personnel	Institution Office of Business Affairs
General questions from institutional central administration and Chancellor's Office personnel	Chancellor's Office Controller's Division

.695  HISTORY

10/15/03 - Reformatted

2/15/02 - Approved 

Policy Last Updated: 10/15/03

APPENDIX

None.

Appendix Last Updated:  10/15/03