1803 Debt Management

Operations

Document purpose

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

effective

December, 1986

revised

May, 2006

Reviewed

May, 2021

Responsible Office

Treasurer

Approval

Policy

  1. The V.P. for Finance and Treasurer is responsible for meeting the cash requirements for the University (i.e., interfund borrowings and from Trustee approved outside sources)  

  2. The Treasurer’s Office is responsible for negotiating and executing debt agreements on behalf of the University with outside financial institutions as approved by the Trustees.  

  3. The Treasurer’s Office is responsible for administering debt service requirements and ensuring compliance with applicable debt covenants.  

  4. Interest on all interfund borrowings will be charged at a rate as determined from time to time by the V.P. for Finance and Treasurer.  

  5. The V.P. for Finance and Treasurer will maintain written documentation for all internal loans borrowings.