Financial Policies

To ensure the timely collection of student loan receivable balances.

To establish authority and responsibility for administering, disbursing and collecting student financial aid advances.

To assist students in financing their cost of education.

To ensure selection and use of the most cost-effective debt financing to meet current operation and capital project needs.

A constant monitoring of the University’s debt capacity is essential for good financial management.

The use of debt may be used for operating capital needs.

Debt financing may be required in support of capital projects.

Secured and unsecured lines of credit may be established as a contingency to meet operating cash requirements.

Bank letters of credit may be required, or preferred, in support of University activities.

This policy governs the extension of internal loans from the University’s working capital for the purpose of financing equipment acquisitions. The objectives of the EPLP include the following: Provide a source of funding for equipment purchases which the school or center cannot self-fund. Provide bridge funding for project gift pledges maturing in five years or less. Promote efficient working capital management by generating a higher rate of return on University liquidity balances. Ensure that internal equipment loans will not be authorized without the borrowing school or center submitting a fiscally responsible and achievable business plan in support of timely repayment.