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OUS

 

Roles and Responsibilities - Treasury Management

Section: Treasury Management Number:  105.001
Title: Roles and Responsibilities - Treasury Management

Index

POLICY

APPENDIX

  • None.

POLICY


.100 POLICY STATEMENT 

The policy sets forth high-level Treasury Management roles and responsibilities for the Chancellor's Office and the Institutions.

.110  POLICY RATIONALE

OUS seeks to ensure that the high-level roles and responsibilities of the Chancellor's Office and the Institutions related to Treasury Management are documented, communicated, and clearly understood and applied.

.120  AUTHORITY

.130  APPROVAL AND EFFECTIVE DATE OF POLICY

Approved by the Budget and Finance Committee of the Board on 2/15/02 as part of the Fiscal Accountability Framework Final Report.  The effective date of the policy is 3/1/02.

.140  KNOWLEDGE OF THIS POLICY

All Chancellor's Office and institutional personnel with treasury management and related responsibilities should be knowledgeable of this policy.

.150  DEFINITIONS

None.

.160  HIGH LEVEL ROLES AND RESPONSIBILITIES

A. CHANCELLOR'S OFFICE 

High level roles High level responsibilities
Operating and Suspense
Reimbursement and Reconciliation of Funds For all campuses not given delegated authority, reimburses suspense accounts once per month for each institution and performs central reconciliation of all bank accounts except the revolving fund for OSU. For UO and PSU: These functions have been delegated from the Controller to the institutions.
State Appropriations Receives all state appropriations into the CO suspense accounts.  Budget Office directs Controller's Division on Distribution of appropriations to institutions.
Wire Transfers and ACH For all campuses not given delegated authority, sends all wire transfers and the majority of ACH. For UO and PSU: These functions have been delegated from the Controller to the institutions.
Bond Building Fund
Fund Management Receives bonds centrally and distributes proceeds to institutions.
Sinking Fund
Fund Management Monitor sinking fund balances and requirements.  Transfers funds to Oregon State Treasury to pay debt service.
Building and Equipment Repair
Fund Management Reimburses institution suspense accounts.  Invests Building and Equipment Repair Funds from the institutions.  Monitors for appropriate use of funds for buildings.
Interest Management Receives interest from Building and Equipment Repair Funds.  Performs interest distributions from these funds to the institutions.
Student Activity Fees
Fund Management For all campuses not given delegated authority, disburses interest earnings once a month to institutions. For UO and PSU: This function has been delegated from the Controller to the institutions.
Student Building Fee Funds
Spending Funds Coordinates how funds are spent.  Uses Student Building Fee Funds to pay debt service on unallocated bonds and construction related to student buildings.
Prioritizing Fund Usage Transfers funds to the Chancellor's Office at the end of each fiscal year.  Makes financial projections to determine available funds.
Special Project Funds
Fund Management Creates a bank account for each special project.  Reimburses suspense accounts from special project funds to reflect the use of these funds.
Lottery Funds
Fund Acquisition Receives lottery dollars from DAS.
Fund Distribution Distributes 88% to athletic funds based on OSBHE institutional allocation. Maintains 12% in Chancellor's Office fund for scholarships.
Calculates the amount of money available for scholarships; distributes scholarship money to institutions based on graduate student FTE enrollment.

 

B. INSTITUTION

High level roles High level responsibilities
Operating and Suspense
Collection and Deposit of Cash Receives cash through cashiering officers and deposits cash into separate suspense bank accounts at the state treasury.  Cash is deposited either directly or through off-site lock boxes.
Fund Management Manages own operating accounts and reporting.  Has the authority to cut checks and pay bills.
Reimbursement and Reconciliation of Funds For UO and PSU: Reimburses suspense accounts once per month and performs reconciliation of all institutional bank accounts as delegated by the Controller.  For all other campuses: These functions are completed by the Chancellor's Office.
Recording Transactions Records the journal entries for all transactions.  Responsible for entering data correctly into the system.
Wire Transfers and ACH UO and PSU: Performs wire and ACH functions as delegated by the Controller. For all other campuses: Performs some electronic wire and ACH functions.
Bond Building Fund
Fund Acquisition Makes requests to the facilities division of the Chancellor's Office.
Sinking Fund
Fund Transfer Requests CO to transfer money from institutional operating funds to sinking fund.
Building and Equipment Repair
Reserve Management Responsible for calculating and setting aside reserves for System-wide compliance.
Fund Management Spends funds and makes the appropriate journal entries.  Maintains cash and reserve funds at the campus level.  Monitors for appropriate use of funds for buildings.
Student Activity Fees
Fund Management All campuses: Collects Student Activity fees from students.  Responsible for keeping a positive balance in the Student Activity Fee accounts.  Covers deficits by borrowing from other funds. UO and PSU: Distributes interest earnings once a month.
Student Building Fee Funds
Fund Collection Collects Student Building Fee from students at each institution for each term.
Prioritizing Fund Usage Recommends and prioritizes which projects should be funded.
Special Project Funds
Fund Acquisitions Responsible for acquiring special project funding.
Fund Management Deposits funds at Treasury and spends funds from the suspense account.
Student Loan Fund
Fund Acquisition Receives funds from the federal and state government, donors, and repayments from borrowers.
Fund Management Manages cash flow and balances.  Loans money to students.  Makes new loans to students from prior loan repayments.
Lottery Funds
Determining Fund Usage Awards Scholarships

 

.690  CONTACT INFORMATION

Direct questions about this policy to the following offices:

Subject Contact
General questions from institutional personnel Institution Office of Business Affairs
General questions from institutional central administration and Chancellor's Office personnel Chancellor's Office Controller's Division

 

.695  HISTORY

12/07/04 - Updated
10/15/03 - Reformatted
2/15/02 - Approved 

Policy Last Updated: 12/08/04


APPENDIX


None.

Appendix Last Updated:  N/A