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Financial Operations Update and Policy Enhancements for Efficient Treasury Management

Stay informed with the latest treasury updates including investment program balances, borrowing program interests, historical rates and balances, and more. Learn about recent refinancing, cash deficit updates, electronic funds transfer policies, and the convenience of remote deposit captures. Discover how these updates aim to streamline financial processes and enhance security.

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Financial Operations Update and Policy Enhancements for Efficient Treasury Management

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  1. Treasury Update Internal Investment Program Balances and Returns Internal Borrowing Program Interest Credit Cash Deficit Update Upcoming Electronic Funds Transfer Policy Remote Deposit Capture Update

  2. Historical IIP Rates

  3. Historical IIP Balances

  4. Internal Borrower Credits • Refinance Debt in March 2013 • Resulted in savings of $13 million • Transferring $10 million to internal borrowers • Borrowers will be notified soon

  5. Cash Deficit Update • Policy approved in June 2011 • June 2011 – • $275 million in cash deficits • $225 million of mapping /object code errors • Discussions with all MBU’s • March 2013 – • $20 million unauthorized deficits

  6. Electronic Funds Transfer Policy • Upcoming EFT Policy • Applies to departments initiating wires and ACH’s • To protect against cyber fraud and risk of loss • Wire procedures at virginia.edu/treasury

  7. Remote Deposit Service • Electronic Deposit of Check Images • Implementations • Fall 2012 – Piloted with School of Nursing • Jan. 2013 – Athletics Ticket Office • Mar. 2013 – OSP • Apr. 2013 – Blandy Farm and Intramural Rec • Saves trips to bank, accelerated deposit of funds

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