Ohio Admin. Code 3358:5-11-34 - Cash managment policy

The purpose of this policy is to establish sound cash management practices to ensure efficient and sufficient utilization of cash, which is consistent with the goals of the college.

(A) All activity and balances in the primary accounts shall be monitored by the treasurer and appointed staff to assess the cash necessary to meet daily obligations and ensure adequate funds are available to pay for those obligations.

(B) The treasurer and appointed staff are responsible for the movement of money between bank accounts and investment pools maintained by the college and/or state funds to ensure sufficient funds are available to meet the college's obligations.

(C) The treasurer and appointed staff shall strive for the following objectives:

(1) Liquidity-maintain the ability to pay bills when they are due.

(2) Cash optimization-establish procedures that help minimize investment in nonearning cash resources.

(3) Financing-follow established policy and procedures on short-term and long-term borrowed funds.

(4) Regulatory-comply with federal cash drawdown and excess cash regulations and applicable state of Ohio policies.

(5) Coordination-ensuring that the college's cash management goals are communicated and integrated with policy decisions of other areas of the Institution that have an impact on cash flows, such as the foundation.

Notes

Ohio Admin. Code 3358:5-11-34

Effective: 11/15/2022
Promulgated Under: 111.15
Statutory Authority: 3358.
Rule Amplifies: 3358.