Cash Management

Cash Management and Short-Term Investment of Operating Funds

It is the policy of the Board of Trustees of the University to invest idle cash (defined as the excess of cash on hand over the immediate needs for such cash) to obtain maximum yield consistent with safety and liquidity.

Short-term investments of operating funds may be made in U.S. Treasury bills, U.S. Treasury notes and bonds, U.S. Government Agency Obligations, Bankers Acceptances, certificates of deposit, commercial paper, money market funds, savings accounts, or in investment funds (e.g., Common Fund Short-Term Fund) that contain any or all of the above.

Responsibility and authority for the management of short-term investments of operating funds is delegated to the Vice President for Finance & Administrative Services or his/her designee.

Investment of Endowment and Similar Funds

The Point Loma Nazarene University Foundation has adopted an Investment Policy Statement that governs the investment of endowment and other funds managed by the Foundation. A copy of this Investment Policy Statement is attached and is incorporated herein by reference.