Fund 857 - Institution of Higher Education - Annuity and Life Income Account
Locally by each agency - LCL0
3 - Local Fund
SAAM Budget Type:
Earnings from Investments are:
Credited to the appropriate fund as directed by the Legislature and/or the administering agency of the fund. RCW’s 43.79A.040 and 43.84.092 do not apply.
This account is to provide for the administration of annuity and life income trusts established pursuant to deeds of donation to colleges and universities. Used to make periodic payments to beneficiaries of such annuities and trusts, as well as miscellaneous expenditures for utilities, insurance, interest and other administrative expenditures.
Sources of Revenue:
Charges and Miscellaneous Revenue, Interest Earnings
Colleges and universities; public donors to higher education
Institution of Higher Education - Annuity and Life Income Account
EA - Permanent Funds
EA - Higher Ed Endowment & Other Perm Funds
Closing GL Code:
9230 - Restricted for Higher Ed