CASH BALANCES

• 1.0 Purpose
• 2.0 Policy
  • 2.1 Responsibility
  • 2.2 Negative Cash Balances (Cash Deficits)
  • 2.3 Working Capital Advances
• 3.0 Definitions
• 4.0 References
• 5.0 Approvals and Revisions

1.0 Purpose

This policy describes the general guidelines for managing University cash balances.

2.0 Policy [Top]

2.1 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.

2.2 Negative Cash Balances (Cash Deficits)

The department head must request authorization for cash deficits from the Associate Comptroller for Accounting Operations.

2.3 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.

3.0 Definitions [Top]

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.

4.0 References [Top]

5.0 Approvals and Revisions [Top]

       Previous version in effect from 6/15/87 to 3/3/00 available in policy archive.