Financial Reporting & Investment Accounting

Financial Reporting

The goal of Financial Reporting is to provide accurate and timely information about the financial position, performance and changes in financial position of the University that is useful to a variety of users; and to deliver financial statements and related disclosures that are understandable by readers of such information.  The Financial Reporting staff is responsible to perform the following:

  • Prepare the annual Financial Report of the University. As part of this process, analysts review account balances and activity and communicate with business managers and other financial staff throughout the University in order to ensure the accuracy and completeness of the information that is summarized in the Financial Report. The Financial Reporting staff coordinates the annual audit performed by the University’s independent auditors, acting as a liaison between the auditors and financial staff throughout the University.
  • Prepare interim University financial statements. Interim statements are prepared for purposes of analysis and discussion.
  • Prepare other reports for users of University financial statements. These reports include, but are not limited to financial statements for the benefit plans, various donors and surveys. In addition, the Financial Reporting staff provides analysis and support to other University departments to meet their financial needs.
  • Research and resolve accounting and financial reporting issues, and implement new accounting guidance. The Financial Reporting staff acts as a resource for business managers and other financial staff throughout the University who may request assistance with accounting issues having a financial reporting impact.
  • Monitor control. The Financial Reporting staff functions as a high level monitoring control of University financial activity through the preparation and analysis of University reporting.

Investment Accounting

The goal of Investment Accounting is to provide support to the Investments Office to ensure accurate investment balances and activity, to deliver accurate and timely investment accounting information to related users of such information, and to perform appropriate reconciliation and control procedures to safeguard the University’s investments. The Investment Accounting staff is responsible for the following:

  • Maintain accurate investment accounting records.  Investment Accounting staff is responsible for reconciling Yale’s investment balances and activity to external custodian records and investment manager reports.
  • Process donated securities gifts. The Investment Accounting staff communicates donated securities received and values to the Contribution Processing group, sends physical certificates received to custodian to be sold, reconciles donated securities records, and ensures all items are sold and recorded on a timely basis.
  • Maintain special mortgage/loan records. The Investment Accounting staff records initial loan disbursement and subsequent loan payments in loan subsystem, prepares and distributes annual tax information to borrowers, prepares periodic statements of loan activity for borrowers, and prepares periodic loan status reports.
  • Maintain accurate special gift investment records. Gifts of investments to the University that are not immediately sold either because they are not marketable or because they are restricted in some way by the donor are classified as special investments.  Investment activity including recording income and processing the sales of these gifts is monitored.
  • Maintain records of funds’ participation in endowment investment pool.  Monthly funds activity is processed in the unit system.  The department staff maintains unit balances by fund, reconciles unit activity, processes spending distributions to individual sources, and calculates the unit value of the endowment investment pool.
  • Report to internal and external sources. The Investment Accounting staff functions as a valuable resource to prepare reports for outside agencies invested in the endowment pool and various governmental agencies.