Treasury2015-04-20_15-42-54

The Treasurer of the University is Board appointed to be the Vice Chancellor for Finance and Administration, Brian G. Gutierrez . He is assisted in executing this function by Dick Hoban, the Assistant Treasurer.

The Treasury function at Texas Christian University encompasses a broad range of related activities that involve the movement of cash and the management of cash balances. Cash movement activities include creation of physical checks (both accounts payable and payroll), ACH transactions and both domestic and international wire transfers. The management of cash balances includes short-term investments, short-term borrowing and transfers of cash between accounts. The University has established banking relationships with several area banks to assist with Treasury activities. The Assistant Treasurer is the primary banking contact for the University.

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 of 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.

In addition to the function of cash management, Treasury is also responsible for the sale of donated securities, accounting for the University’s endowment and for departmental budget preparation and amendment support.