General Information

1. Component Units may request the University of Florida invest excess funds in a Special Purpose Investment Account (SPIA) on behalf of the Component Unit.
2. SPIA investment, accounting and other information such as yields (including participant rates net of Florida State Treasury fees) may be found on the Florida Department of Financial Services website at http://www.fltreasury.org/fs_01.html).
3. Each Component Unit will be assigned a unique department number (DeptID) in Agency Fund 920 - Component Unit Investments.
4. A SPIA will be opened for each Component Unit participating in this process.
5. Fund 920 will be a cash-based fund. Budget will be set to track at fund and department level. There will be no commitment control.
6. The University will charge each Component Unit participating in this program a monthly administrative fee of 0.15 percent per annum on the SPIA's average daily balance. A monthly bill will be provided by Finance and Accounting.

Cash Management

1. Component Units will estimate the expected frequency of cash transfers to and from the investment account and the average transfer amount. Three days notice must be given for large transfer requests (>$1,000,000.00).
2. Component Units will specify by which method(s) funds will be delivered to the University of Florida for investment (wire transfer, ACH, check, etc.). Electronic transfers are quicker and less expensive and are preferred. Checks received for deposit to investments will be subject to the bank's availability schedule.
3. Component Units will provide written notice (email or letter) specifying the authorized persons to request a transfer of funds. Notice will include the name, title, signature, telephone and email information for each authorized person as well as any other contact information.
4. Funds received in the bank account of the University of Florida from a Component Unit will be invested in the next investment window, if the funds are available (free of any holds).
5. The University investment window closes each business day at 9:00 am. Requests to transfer funds in or out must be received prior to 9:00 am in order to be executed the same day. Transfers will only be made if there are sufficient available funds.
6. Component Units must provide banking information for transfers back to the component unit from the SPIA.
7. Transfers received after 10:00 am will be made during the next investment window. Transfers are not available on bank or University holidays.

Accounting Entries in Agency Fund 920

1. Transfers in to Investments
   DR Investments - SPIA
   CR Due to Depositors
2. Transfer out from Investments
   DR Due to Depositors
   CR Investments - SPIA
3. Interest Earnings (credited about the 12th of the month)
   DR Investments - SPIA
   CR Due to Depositors - Interest

Note:
Each component unit will be responsible for recording the appropriate entries on their respective accounting records. Each component unit will be provided a monthly statement for their investment account reflecting the transactions and interest earned.

F&A Form:

Request to Participate in Component Unit Investments