Banking/ Funds Management
Treasury & Investments
Insurance|Banking/ Funds ManagementCashieringCheque Production
Our Objective:
Ensuring that the University’s financial resources are effectively managed.
How is this achieved?
- Using cash as efficiently as possible.
- Ensuring that cash resources are always available to settle all payments when due.
To achieve these goals, we are guided by the following:
- Investing excess funds based on projections to maximize interest income.
- Managing available funds held in Bank Accounts on an ongoing basis.
- Updating cash flow projections weekly.
Factors That Affect Our Service Delivery
- Lack of advance notice of large payments outside of the daily cheque batches.
- Requests from departments for same day emergency cheques.
- Some Departments are not lodging funds at Bursary Cashier in a timely manner. These departments send lodgments weekly which means that the time taken to count the cash slows down the flow of the line.
- Departments requesting too many cheques without prior notice.
- Staff spending too much time to research information regarding the distribution of cheques.
- Private Bank Accounts that are held by departments without the approval of the Bursary.
What You Should Do To Get Speedier Service And Meet Our Requirements
- Provide us with 2 weeks notice of any large payment e.g. payment for capital project.
- Reduce the number of emergencies by planning ahead so that we include your payments in the daily cheque batches.
- Advise us of any Private Bank accounts that your Department holds.
- All bank accounts should have the required approval of F&GPC.
