Release date: October 17, 2020.
Summary: This deployment includes enhancements to the User Interface (UI), many of which were based on client feedback.
Spending Rule Changes
If you are using the Proportional Distribution spending rule type, this spending rule now allows for funds in different pools to participate in a single proportional rule (Client must be on new Spending Interface). The Estimated Spending Report with Column Grouping and Drill Down reflects this update as well.
Fundriver location: Organize --> Spending Rules
Department Site
Investment Portfolio Level Reports can now be added to the Department Site. A total of 11 portfolio reports are now available to be published on a client's Department Site. NOTE: Reports will pull all investment managers regardless of GLID/Department assignments in the Department Module, not user specific. For more information on the Department Site see THIS article.
Fundriver location: Support/Settings --> Department Users --> Reports tab
New Summary Report
As of 11/6/20, all clients received a new report titled, Endowment Transaction Rollfoward Report, in their Summary report folder. This report provides detail by fund for gifts, transfers, distributions, and market activity by account for a specific period. We love this report here at Fundriver because it breaks transfer transactions out into: Cash Historical Gift Transfer, Income to Principal, and Transfers- providing more transparency. In addition, Investment Fees and Other Expenses such as your admin fees are also broken out in separate columns.
Fundriver location: Reports --> Summary report folder
New Audit Log Report
All clients now have the Report Run Log in their Audit Log report folder. This report displays the number of times reports have been run, and the last run date. Data is only available back to 2019.
Fundriver location: Reports --> Audit Logs report folder
User-Defined Reports Enhancement
When building a user-defined report, fields from the Fund Profile screen will now pull any custom labels, rather than the standard/default field names. In addition, the Aux ID field is now set to VISIBLE for any UDR being built.
Fundriver location: Report --> User-Defined Reports --> 2) Fields tab
Stewardship Report
This deployment improves the run time (amount of time the system takes to display report results) for the Account Summary Stewardship Report by Fund.
Fundriver location: Report --> Stewardship --> Account Summary Stewardship Report by Fund
Role Manager
Clients can now assign users role manager access with multiple client databases. Special consideration needs to be made when assigning and editing users. See THIS article for specific instructions.
Fundriver location: Support/Settings --> Users --> Role Manager tab
Deactivating/Merging a Fund
Once a fund is deactivated or merged, Fundriver will automatically create system generated transactions to sell units, to zero out the market value and to zero out the historical gift of the fund as of the prior period value. The transactions created by Fundriver will include a note of either "Closing Endowment" or "Merging Endowment to XXX." NEW with this deployment, users are NOT able to delete or modify the system generated transactions that are produced from deactivating or merging a fund. If these entries need to be deleted, simply reactivate the fund from the Fund's Profile page. When a fund is reactivated, the system generated closing entries are erased. Merging funds occurs as of the prior period. To unmerge, user would need to reopen to prior period. By doing so, fund will reopen/unmerge, and system generated transactions are erased.