Many of the current restricted funds in the foundation have cash balances, which are carried for extended periods. The foundation provides a means of earning interest by a “VTF Certificate of Deposit”, on fund balances under the following guidelines:

  1. The fund’s authorized user must designate by memorandum the dollar amount to be placed in a “VTF Certificate of Deposit.” Such requests should be addressed to the Virginia Tech Foundation, Accounting Office, 902 Prices Fork Road, Suite 4500, Mail Code 0354.<\li>
  2. A minimum balance of $10,000 is required to purchase a “VTF Certificate of Deposit.” Amounts in excess of $10,000 may be invested in $1,000 increments.<\li>
  3. Cash designated for investment must be committed for at least one year. No interest will be paid if funds are withdrawn prior to maturity.<\li>
  4. Balances among several funds cannot be aggregated to purchase a “VTF Certificate of Deposit.”<\li>
  5. Earnings from a “VTF Certificate of Deposit” will be allocated upon its maturity. The interest rate earned will be one-half the earnings rate of one-year U.S. Treasury Bills at the time the funds are committed for investment.<\li>
  6. Should the cash balance in an investment fund become negative (deficit), the “VTF Certificate of Deposit” will immediately mature, with only interest posted until that date.<\li>
  7. Endowment income funds are prohibited from investing in VTF CD’s.<\li>