Cash Management/Compliance

Administration Building Room 122
Fayetteville, Arkansas 72701
Staff
(479)575-7546
(479)575-8660

About this Department

The Cash Management Office is focused on the management and investment of the University's liquidity portfolio, monitoring and reconciling the endowed pool, as well as managing all University banking relationships. Our goal is to deliver financial flexibility characterized by strong governance.

Important Information

Does your department conduct business with companies that want to pay the University electronically? Great! The Cash Management Office can work with you to provide the necessary information. Please be prepared to provide details about the funds that will be received, including whether or not the payment is recurring, if ARS invoices will be created, and the full accounting information. For questions or assistance, please e-mail cashmgmt@uark.edu.

Fayetteville Policies and Procedures

Fayetteville Policy 206.0 - Spending Rate Policy: University Held Endowed Funds in the Unit Trust Pool

Fayetteville Policy 222.1 - University of Arkansas Foundation Expenditure Guidelines

Fayetteville Policy 304.0 - Bank Accounts and Other Financial Institutions Signature Authorization Policy

Fayetteville Policy 307.0 - Collateralization Guidelines

Fayetteville Policy 312.2 - Imprest Funds

Fayetteville Policy 314.0 - Investment Policy

Fayetteville Policy 315.0 - Investments, Donated Stock

Fayetteville Policy 408.1 - Guidelines on Taxable Fringe Benefits

Fayetteville Policy 411.1 - Moving Expenses

Forms

Imprest Funds

Foundation Compliance

Tax Compliance

Cash Flow

The Cash Management Office monitors and facilitates the flow of funds through all the University's depository accounts. This office is also responsible for maximizing all invested funds while at the same time providing an adequate liquidity to sufficiently meet the University's monetary commitments.

Investments

Internal endowment funds and available cash funds are invested primarily through managers. Managers are monitored continuously to ensure that funds are invested according to University guidelines, adequate liquidity is maintained, and total return is maximized. The Cash Management Office is responsible for reconciling investment accounts and monitoring and reconciling bond trustee accounts.

Endowments

This office monitors and reconciles the University's Endowed Pool. The Investment Manager distributes current income from endowment investments to separate cost center(s) and initiates spending distributions to authorized endowed expenditure centers.

Banking Relations

The Cash Management Office is actively involved in selecting bank(s) and establishing or closing specific bank accounts. We monitor activity and balances within the accounts on a daily basis. CMO staff reconcile selected portions of the account activity and monitor balance to ensure adequate funding and to invest funds. We initiate and record authorized electronic funds transfers. The CMO is also responsible for monitoring all payment card activity, whether in person or via e-commerce, and distributing relevant fees. This office also monitors bank fees.

Foundation Compliance Officer

The Foundation Compliance Officer monitors and facilitates the flow between the UA Development/Gift Services and the UA Foundation. From the start of a gift with the new project id request to the request to close a project, Foundation Compliance reviews expenditures, balances and transfers for appropriateness of the transaction. Electronic review in BASIS is done by Foundation Compliance prior to review by desk WALTON to check for appropriateness of expenditure and presence of documentation. Appropriateness of all transactions includes donor intent, UA rules and guidelines, UA Foundation rules and guidelines, and cash availability.

As Foundation Compliance Officer, I provide specific information to our Budget Officer quarterly for each expenditure greater than $2500 to an outside party.

I monitor cash balances in Foundation spending accounts all year and notify departments of large dollar deficits. During the last quarter of the year of all negative accounts are notified.

At fiscal yearend I review University company 0392 cost centers to work for a minimum number of accounts receivable in our Foundation cost centers. For fiscal year end, I work with the departments to insure they have no UA Foundation projects with a negative balance. Also at year-end, I work to provide any A/R information from UA Foundation we report will match UA Foundation Accounts Payable to the University.

While acting as a liaison and intermediary between the University of Arkansas Foundation and the University, I explain rules, regulations, wants and desires of each while reviewing paperwork and electronic transactions.

I answer questions from University staff ranging from account balances, finding deposits, how to fill out forms and from where and when reimbursement should be made. ~ Patricia Macke

Tax Compliance Office

The Tax Compliance Office serves as a point of contact for tax matters for the University. This office is responsible for Unrelated Business Income Tax (UBIT), the review and issuing of 1099-MISC forms, issuance of the University’s W-9 and general tax questions. Tax Compliance also assists in the determination of taxable fringe benefits for employees and their reporting.