1. The University's investment goal is to maximize investment earnings while maintaining adequate cash to meet the University's operating needs. Investments are made in accordance with applicable State statutes and University policy. Both cash invested and cash in our bank accounts are analyzed daily and investments are purchased or sold according to our operating cash needs. Invested cash is kept in an interest bearing account. Earnings on investments will be distributed monthly as prescribed by University, State, and Federal Laws, Rules, and Procedures, depending on the source and type of invested funds.

2. Departments responsible for disbursing funds via bank wires must notify the Investment Accountant at 352-392-2441, in advance of any wires for disbursements exceeding $500,000. Treasury Management reserves the right to send any wires the following business day since they are subject to available cash in our bank accounts. Timely notification will allow for the efficient investment of excess funds and insure adequate funds are made available to cover disbursements. Significant costs may be incurred if proper notification is not received.

3. Incoming wires will be immediately available for disbursement or investment. Checks received from local banks will have a minimum of a one-day hold and checks drawn on non-local banks will have a two or more day hold. The funds are not available for disbursement or investment until the hold has expired. Departments are strongly encouraged to obtain receipts by wire transfer where possible.