UNIVERSITY OF VIRGINIA
           FINANCIAL AND ADMINISTRATIVE POLICIES MANUAL



TITLE:  CASH BALANCES                                POLICY: IV.C.1x 

                                                                   
Definition

The term 'cash balance' shall be defined to include any cash
position, either positive or negative, in a University account or
University-controlled bank account.


Responsibility

It is the responsibility of the University Bursar:

 To maintain control over cash and cash items.

 To optimize the cash available for investment.

 To identify and correct delays in the receipt, deposit, or
 transfer of funds.

 To estimate cash flows.


Negative Cash Balances (Cash Deficits)

The department head must request authorization for cash deficits
from:

 The appropriate Vice President,

      The University Bursar, and

      For deficits in excess of $1,000, the Senior Vice
             President and Chief Financial Officer


Working Capital Advances

Funds may be transferred from school or departmental accounts not
restricted as to purpose to function as working capital advances to
local support service centers.  Application to make such a transfer
should be by memorandum to the Director of General Accounting.

                                                                   
ISSUED BY:                                                 06/15/87

University Bursar              4.3.1