122XXX - Investments

Investments - Non-Current

This account group includes long-term investments, which are restricted beyond the current period as to sale or disposal.

Investments Outside the State Treasurer- Non Current

This account subgroup includes non-current investments held outside the State Treasurer.

122101 U.S. Government Guaranteed Securities or Obligations -Non-Current
The types of securities issued by the U.S. Treasury and other U.S. governmental agency, i.e., Federal Home Loan Bank, Federal Loan Bank, Government National Mortgage Association (GNMA), and Federal National Mortgage Association (FNMA). Examples of the types of securities classified within this control would be notes, bonds, or other debt instruments which are issued by these US governmental agencies
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122102 State and Municipal Debt Securities Fund - Non-Current
This account consists of notes, bonds, or other debt instruments issued by any State or its political subdivision (county, city, etc.).
122103 Corporate Bonds - Non-Current
Securities reported within this account are bonds issued by a U.S. corporation. Some examples of these types of bonds are debentures (unsecured bonds) and convertible debentures (convertible bonds). The convertible debenture will be recorded to this account until it is converted to stock.
122104 Corporate Stocks - Non-Current
The types of securities reported in this account usually represent ownership interest possessed by shareholders in a U.S. corporation. Some common examples of these types of securities are common stock, preferred stock, and convertible preferred stock.
122105 Repurchase Agreements (REPO) - Non-Current
An agreement in which a governmental entity (buyer-lender) transfers cash to a broker-dealer or financial institution (seller-borrower); the broker-dealer or financial institution transfers securities to the entity and promises to repay the cash plus interest in exchange for the same securities. These agreements usually involve federal government obligations and are often executed on an overnight basis.
122106 Commercial Paper - Non-Current
This instrument is a short-term obligations with a maturity that can range from 2 to 270 days which is issued by banks, corporations, and other borrowers to investors with temporarily idle cash. Such instruments are unsecured and usually discounted, although some are interest bearing. This type of instrument can be issued directly or through a broker. Almost all commercial paper is rated as to credit risk by rating services.
122107 Bankers' Acceptances - Non-Current
Bankers' acceptances which generally are created based on a letter of credit issued in a foreign trade transaction. Bankers' acceptances are short-term, non-interest-bearing notes sold at a discount and redeemed by the accepting banks at maturity for face value.
122108 Annuity Contracts - Non-Current
A form contract sold by life insurance companies that guarantees a fixed or variable payment to the annuitant at some future time usually at retirement.
122109 Investment in Real Estate - Non-Current
This account is to be used to record land and all physical property related to it that is owned by state agencies and universities for investment purposes (e.g., endowment fund properties).
122110 International Bonds (Corporate) - Non-Current
The type of securities reported in this account are bonds issued by a corporation whose corporate charter and main corporate headquarters are located outside the United States. Examples of these types of bonds are debentures (bonds) and convertible debentures (bonds).
122111 International Bonds - (Government) - Non-Current
The type of securities reported by this account are notes, bonds, or other debt instruments issued by governments outside the United States.
122112 International Stocks - Non-Current
The type of securities reported by this account are stocks issued by a corporation whose corporate charter and main corporate headquarters are located outside the United States. Examples of these types of stock are common, preferred, and convertible preferred.
122113 Certificates of Deposits - Non-Current
To account for all certificates of deposits (CD's) which are either negotiable or non-negotiable.
122114 Investment Agreements - Non-Current
These are agreements with banks for the deposit of money at a fixed rate for a period of time prescribed by the agreement or bond resolution.
122115 Bank Investment Contract - Non-Current
This account for a deposit of money into a contract that guarantees the funds to earn a fixed rate for a fixed period of time normally ranging from 1, 3, or 5 years. The deposits in these contracts can be subject to federal insurance.
122116 Money Market Funds - Non-Current
This account is to be used when an agency has a Money Market Fund at a financial institution. Money Market Funds are in effect an open-ended Mutual Fund that invests in various highly liquid securities. Such funds usually offers check writing privileges but funds are not federally insured.
122117 Mutual Funds - Non-Current
These are funds operated by an investment company that raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. These funds offer the investor the advantage of diversification and professional financial management.
122118 Real Estate Investment Trust (REIT) - Non-Current
To account for investments with a company operating a Real Estate Investment Trust (REIT). A portfolio of real estate is managed in order to earn profits for its shareholders. The investment in these REIT's represent a share of ownership in the trust, not parcel of real estate.
122119 Limited Partnerships - Non-Current
This account consists of investments in limited partnerships. Public limited partnerships are typically sold through brokerage firms whereas private limited partnerships are put together with fewer than 35 limited partners who invest more than $20,000 each. Some typical limited partnership are in real estate, oil and gas, movie financing, research and development, and venture capital.
122120 Reverse Repurchase Agreements - Non-Current
An agreement in which a broker-dealer or financial institution (buyer-lender) transfers cash to a governmental entity (seller-borrower); the entity transfers securities to the broker-dealer or financial institution and promises to repay the cash plus interest in exchange for the same securities.
122121 Cash with Fiscal Agent - Non-Current
Residual cash, along with various investments, are components of an investment account maintained by a fiscal agent. Residual cash is that minor portion of the account which is not invested or any particular moment in time. Residual cash is not the amount of total funds given to the fiscal agent for investing. This account is used only for the residual cash that the fiscal agent does not have tied up in investment at June 30.
122122 Investments with Fiscal Agent - Non-Current
This account includes only those amounts in a fiscal agent account that are actually invested at June 30.
122123 Pooled Investments (Internal Pools managed by Banks)
This account is to be used when the fund that the university places with a bank are pooled together with other depositors' money and these funds are invested in investment pools that are managed and banks (e.g.: life income pools). The internal investment pools reported under this control are not openly traded mutual funds.
122124 Collateral Mortgage Obligation
A security created using the underlying cash flows from mortgage-backed securities as collateral. A CMO shifts the uncertainty regarding the exact timing of principal return in a mortgage-backed security. This uncertainty exists because the timing of mortgage principal payments is influenced by changes in interest rates, the current economic climate, and the geographic makeup of loans.
122150 Allowance-Fair Value Investments
122151 Allowance-Fair Value Investments with Fiscal Agents
122190 Other Non-Current Investments (Outside the State Treasurer)
This account consists of investments that do not meet the definition of the above identified accounts.
122191 Investment Derivatives - Noncurrent
A derivative instrument that is entered primarily for the purpose of obtaining income or profit, or a derivative instrument that does not meet the criteria of a hedging derivative instrument. See acct 129700 for definition of Hedging derivatives-noncurrent.

Investments - Non-Current Restricted

See the Restricted Assets Policy for a comprehensive definition and the policy on restricted assets.

122125 Endowment Investments
122126 Restricted investments
122152 Allowance - Fair Value Endowment Investments
122153 Allowance - Fair Value Restricted Investments

Pooled Investments - Non-Current

122210 Long-Term Investment Pool
This account consists of the agency's investments (cost basis) associated with its units of ownership in the Treasurer's pool.
122280 Allowance-Fair Value of Pooled Investments
This account is used to record the adjustment from cost to fair value for the Long-term Investment Pool.