Introduction
Purpose
It is the policy of the State of North Carolina that all agencies, institutions, departments, bureaus, boards, commissions and officers of the State, whether or not subject to the Executive Budget Act, Chapter 143, Article 1 of the General Statutes, must devise techniques and procedures for the receipt, deposit, and disbursement of moneys coming into their control and custody which are designed to maximize interest-bearing investment of cash, and to minimize idle and non-interest earning cash balances. This policy must include the acceptance of electronic payments in accordance with G. S. 147-86.22 to the maximum extent possible consistent with sound business practices.
Policy
Policy Statement
The University must develop and maintain a cash management plan that shall include techniques and procedures for the receipt, deposit and disbursement of moneys coming into the University's control and custody which are designed to maximize interest-bearing investment of cash and to minimize idle and non-interest earning cash balances. The University must submit its plan to the Office of the State Controller for approval and will maintain a copy of the approved plan for review by the Office of the State Auditor.
Exceptions
None.
Additional Information
Frequently Asked Questions
None.
Related Requirements
External Regulations and Consequences
None.
University Policies, Standards, and Procedures
Contact Information
| Subject |
Contact |
Telephone |
E-Mail |
| General Cash Management |
Accounting Services - Cash Management |
919-962-1601 |
cash_management@unc.edu |
History
Revised:
- April 13, 2017 - update cash management file
- April 13, 2012