Treasury Operations
The Office of Treasury Operations is committed to ensure the liquidity of the University's cash assets through the effective use of cash forecasting, leveraging of working capital, as well as cash flow management. Our department is responsible for cash liquidity, short-term investments, non-student accounts receivable, credit card processing (including PCI compliance oversite), bank relationships for operating cash, cash forecasting, as well as banking services for the entire university.
Accounts Receivable (AR) manages all incoming non-student accounts receivable payments to the university. This includes applying payments, processing credit memos, adding new customers, assisting departments with invoicing, payment application and reconciliations, as well as reviewing aging reports. The university accepts for receipt of lockbox payments via wire, ACH, and check.
Individual departments are responsible for invoicing and arranging for collection of any amounts due. The Accounts Receivable Collection Policy states that past due amounts may be subject to interest charges, penalties or fines and turned over for collection to third party agencies or the State Attorney General's office.
Cash Management is responsible for the daily oversight and investment of operating cash, monitoring incoming and outgoing payments to the university, cash liquidity, cash forecasting, and bank services management and consultation for the entire university.
Merchant administration services the University's merchants and their ability to accept credit cards. It is our goal to provide the highest quality service in the most efficient and cost effective manner. We open all credit card accounts for the University in order to reduce risk and ensure compliance with our merchant agreement and University policies.
Treasury Management manages e-commerce and the University's e-commerce providers in conjunction with the PCI area to ensure efficiencies and compliance to policy. UC mandates that all credit card-accepting local units, called "merchants" request set up through Treasury and comply with the Payment Card Industry (PCI) standards.
We actively
support and provide consultation for all merchants who want to accept
credit card payments, either in person, on the phone or online.
The Office of the Treasurer is responsible for PCI compliance oversight. Individual departments are responsible for their specific merchant processing and PCI compliance at the University of Cincinnati. The PCI committee consists of representatives from the Office of the Treasurer, UCIT Information Security, UCIT Software Development, and UCIT Network Operations.