Banking/ Funds Management

Treasury & Investments

Insurance|Banking/ Funds Management|Cashiering|Cheque Production

 

Our Objective:

Ensuring that the University‚Äôs financial resources are effectively managed.

 

How is this achieved?

  1. Using cash as efficiently as possible.
  2. 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.