Treasury
The Treasurer of the Texas Christian University is William J. Nunez, Ph.D. He was appointed by the Board to be the Vice Chancellor for Finance and Administration, and is assisted by Evie Richardson, Director of Finance and Treasury.
Treasury Responsibilities
The TCU Treasury encompasses a broad range of related activities that involve the movement of cash and the management of cash balances. To assist with these activities, the University has established banking relationships with several area banks. Treasury is also responsible for the sale of donated securities, debt issuances, and credit extensions, Rating Agency contact, bond compliance, and departmental budget preparation and amendment support.
Protecting University Assets
Inherent in all-cash activity is the need to control and protect the cash assets of the University. At TCU, the fundamental rule governing cash activity is the “signer plus one” philosophy that requires the participation of at least two individuals in the initiation and approval of each cash transaction. In addition, routine reconciliations are performed for all cash accounts and these reconciliations are reviewed independently. Best practices in cash management are considered necessary to obtain the highest confidence in the University’s Treasury management procedures.
Occasionally, friends of the University make gifts in the form of donated securities. The policy of the University is to sell donated securities as quickly as possible in order to realize a sale value that is close to gifted value. TCU maintains brokerage accounts with many of the major brokers in the area, so the transfer of securities through a donor’s own broker can often be accommodated. If a department receives donated securities, the certificate(s) should be delivered by hand to the office of Advancement in The Harrison, Suite 1403. After the gift is recorded by Advancement, the securities will be delivered to the Assistant Treasurer for sale. For questions about this process, please contact Evie Richardson or call 817-257-6712.
Cash Management is the daily process of directing the cash flows of the University to ensure the proper application of funds and the maximization of the return on cash assets, all within a controlled environment.
Short-Term Investments
Excess cash is maintained in a variety of interest-bearing accounts. The goal is to keep excess cash working until it is needed to pay expenses.
Short-Term Borrowing
The University maintains credit relationships with several area banks in order to ensure that the necessary funds are available to meet cash demands throughout the University’s annual operations cycle.