This July will be busy for Wanda Breeden. Breeden, who works in Financial Operations as Assistant Director for Investment Services, is gearing up for the semi-annual endowment spending distribution.
January and July are the two times per year when money made on UVA’s endowment, which is in the Long Term Pool invested and managed by the University of Virginia Investment Management Company (UVIMCO), is shared out to schools and units within UVA.
For Fiscal Year 2017, the distribution was over $196 million; for Fiscal Year 2018, it will be over $200 million.
For departments, which have been expecting the distribution, this time of the year means funding and budgeting their projects.
For Breeden, it’s a time of assembling puzzle pieces.
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| Wanda Breeden of UVAFinance |
“I have about 2000 accounts that make up all the pieces of the puzzle,” she said.
“I have to tie all of those back to UVIMCO in terms of total share and market value, and then I dissemble those and share them out to departments.”
Breeden has been a part of financial services at UVA for thirty years, nearly all of which have involved work with gift and endowment accounts. Her work behind the scenes has changed a lot since she began, going from spreadsheets and manual effort to loading and tracking money in Fundriver, Financial Operations’ endowment accounting system.
“There’s definitely a tight window between getting the funds processed and distributed,” Breeden said.
This summer, she’ll again be balancing the important task of endowment distribution with year-end duties, nimbly working a 2,000 piece puzzle so that UVA can carry on with its important work.
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