Corporate Investments & Unrestricted General Fund Policy

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UCAR's policy is to increase its Unrestricted General Fund and other appropriate funds through revenues derived from investment income.  This policy has the goal of obtaining the highest return on investments that can reasonably be expected given UCAR's practice of taking moderate investment risk according to the norms of not-for-profit organizations. 

The purpose of the Unrestricted General Fund is to provide reserves for contingent liabilities, budget shortfalls, program closures, bridge funding for new programs, financing technology transfer, legal and business risks, spending on contracts prior to receipt of funding, scientific opportunities, administrative shortfalls or increments, serving as collateral for a bank line of credit, and other corporate purposes as determined by the Board of Trustees.

UCAR's Board of Trustees has overall responsibility for, and approves in advance, corporate investment philosophy and policy.  The UCAR Board of Trustees' Audit and Finance Committee oversees the implementation of this policy, including decisions on use and selection of professional investment managers; monitors investment activity and performance; and monitors allocation of funds. 

UCAR management and the Board of Trustees may elect to spend the Unrestricted General Fund balances without limit following specific criteria.

Contact the Director of Treasury Operations for interpretation of this policy.