What's Changed with Account Certification: Removing Investment Income

One step in a continuing journey
of improving account certification

New Account Certification Resources: Everything You Need to Know About Investment Income

As we continue to improve the Account Certification process, we want to highlight several helpful resources to make it easier for you to understand recent changes:

• How Endowment Accounting Works in Workday: Click here for details.
• Changes to Account Certification (Removal of Investment Income): Learn more.
• How to Find Your Investment Income Activity: View instructions.

These resources are designed to help clarify what’s required—and what isn’t—when reviewing your Account Certifications, especially concerning investment income.

Key Change Reminder: Investment Income Excluded from Account Certification

Investment Income Ledger Accounts are now excluded from the Account Certification process. This applies to the following accounts:

• 4400: Investment Income
• 4401: Investment Income - Debt Proceeds
• 4402: Investment Income - OSP

Investment income (gains or losses) in these ledgers is not spendable and does not impact Fund Balance reports. Central Finance manages and reconciles these accounts, rolling gains or losses back into the investment each month.

What This Means for You

• Account Certification Creation:
  If activity is present only in Investment Income ledgers, no Account Certification will be created. If there is activity in both Investment Income and other ledgers, the Investment Income ledgers will be excluded from the Total Ledger Account Balance.

• Endowment-Related Accounts:
  This change primarily affects Account Certifications with a Gift Worktag associated with an Endowment (True or Quasi). Some Designated and Grant Worktags may also have investment income.

• Transactions You May See:

  • Endowment Distribution (8905: Non-Mandatory Transfer Ledger Account):
    Seen during triannual distributions in September, December, and March. These transactions net to zero and do not need to be reconciled.
  • Endowment Administrative Fees (8904: Non-Mandatory Transfer Ledger Account, Journal Source: Fundriver):
    These fees are transferred into the investment and reconciled centrally.

  Note: If you see any other Journal Sources in 8904, you are required to review that activity.

We hope these resources and reminders will make your Account Certification process smoother. If you have any questions, please reach out via askfinance@virginia.edu or refer to the links above.