Please see the attached memo from Provost Michael Bruno and Sandy French, Chief Business Officer…
Below is an email sent to the Talk Story listserv on September 20, 2022 regarding an Update on Interest Distribution.
Please review the attached update on interest distribution changes. Interest distribution will be changed to include interest earned on U.S. Government securities; a “catch-up amount” is expected to be posted with the October interest distribution. This process change will not impact TFSF or RTRF accounts, but will impact other special and revolving fund accounts. Most importantly, any accounts with negative balances will be adversely impacted because negative interest will be assessed against those accounts.
To the extent possible, I encourage you to reverse any negative balances at the account level. Please address any questions to MBO.
Alexandra (Sandy) French