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Subject to donor-imposed restrictions, reinvested income may be withdrawn with at least 30 days notice to Accounting Services prior to the end of a calendar month.

Subject to donor-imposed restrictions, the departments may elect to use the distributed endowment income, invest in the University Temporary Pool, or reinvest all or a portion of the income with the UNC-CH Foundation Investment Fund Inc. (Investment Fund), for withdrawal at a later date.

The reinvestment of unspent distributions from endowment funds creates additional income with which to serve the University in the future. The Board of Trustees of the University Endowment Fund has approved this policy.

Gifts are received via automated journal entry batches to the established endowment accounts. Each month Accounting Services verifies available cash in the University endowment accounts and wire the funds to the Investment Fund.

This policy serves to provide guidance on additions, corrections and the withdrawal of endowment funds.

The Intermediate Investment Pool is open to all participants that are eligible for the UNC- Chapel Hill Temporary Investment Pool.

The Board of Trustees of the Endowment Fund of the University of North Carolina at Chapel Hill and the Board of Directors of the University of North Carolina at Chapel Hill Foundation, Inc. endorsed at their May 2009 meeting the University's recommendation that UPMIFA be an option of last resort and the series of actions listed above.

For appropriate accounts, participation in and liquidation of Money Market can be obtained by using the Money Market Request Module of the online Journal Entry System in Finance Central.

This policy defines the University's short-term investment accounts and names the types of accounts that can be invested in them. It also outlines the parameters of income distribution.

The Investment Fund's distribution policy attempts to accomplish two objectives: (1) Provide participants with a stable source of spending support at a rate which is sustainable over the long term. (2) Provide spendable funds for the annual budget of each participant in a stable stream.

The University seeks to maximize income and minimize risks for its investments while complying with State and Federal laws related to investments, adhering to the Board of Trustee's investment guidelines, meeting donor restrictions, and maintaining liquid assets.