Treasury Operations (“Treasury”) provides services and support to the University enterprise that closely mirrors a corporate treasury division. Treasury’s primary objective is to steward, safeguard, monitor, manage, and grow the financial assets while meeting the daily financial obligations required to maintain the financial stability and reputation of the institution.
Primary Areas of Responsibility
- Commercial Banking and Custodial Banking Relationship Management
All banking relationships are centrally managed on behalf of the university and its wholly owned subsidiaries. Centralized management facilitates building strong partnerships with financial institutions, allowing for the effective optimization of services and account structures.
- Cash Management Operations
Treasury monitors daily bank activity, forecasts cash flow, establishes a daily cash position, transfers funds across financial institutions for funding purposes, pools available cash for investment, manages/mitigates financial risks, and ensures adequate liquidity is available to meet ongoing financial requirements. Additionally, Treasury is responsible for the administration of deposit activities across the enterprise to include currency, coin and remote check deposit, courier services and change fund usage.
- Investment Management Operations
Treasury executes the operational aspects associated with managing the investment pools. Middle office activities include: data management to ensure timely and accurate valuation and reporting of all invested assets, various compliance, audit, accounting and settlement functions, working closely with the investment team to assist with various due diligence, legal and executional activities, and acting as a liaison between the university and various external investment managers and related parties.
- Debt Management Operations
The OIB team actively collaborates as members of the University’s Debt Management Advisory Committee, Debt Oversight Group and Debt Process Team for capital financing purposes, lending capital market and financing structure modeling and expertise. The team is also responsible for execution of external debt service payments, rating agency self-liquidity reporting, and investing of bond proceed reserves and draws as the university acts as its own trustee in such matters. Debt operations are managed by the Office of Debt Management, part of University Finance.
- Board of Regents Policies on Investments
- Financial Policies related to Cash Management and Investments
- Participating in a University Investment
- Treasury Management Services
- Accepting and Depositing University Revenue
- Preparing the Deposit
- Making a Deposit at a Bursars office
- Making a Deposit at a Bank
- Making a Deposit at a Depository Drop Box
- Making a Deposit Using Courier Pick-up
- Making a Foreign Currency Check Deposit at a Bursars office
- Bank Lockbox Deposits
- EFT Deposits denominated in US Dollars
- EFT Deposits denominated in a Foreign Currency
- Accepting Revenue Via Payment Cards
Electronic Payments to the U of M
Electronic Payments, Third Parties Direct Debiting U Bank Accounts
I received notification that a company wants to debit our account directly for payments due to them. Does the University allow that?
The University does not allow third parties to debit our accounts for payments owed to them. All payments must run through our central accounts payable processes managed by the Controller's Office. Contact the University Financial Helpline at 612-624-1617 or email [email protected] for assistance if a supplier wishes to be paid electronically.