Part 4 Subpart 4-7 Banking and Cash Management

Sec. 4-705. Use of Money Market Mutual Funds.

In addition to use of primary banks as indicated above, a money market mutual fund selected by the President or his/her designee may be used when conditions make this advantageous in the judgment of the President or his/her designee. A money market mutual fund shall not be used by the University unless the fund has total assets at the time an account is established of not less than $50 million. Money market mutual funds and other bank products used as short term investments have additional requirements as referenced in Board Investment Policy Subpart 4-8.

Cross Reference:

Business Policy Letter, BPL 2003:02, Cash Management Policy

Board Investment Policy Subpart 4-8

Prior Board Action:

October 9, 1998.

November 19, 1999.

February 17, 2001.

Entire Subpart 4-7 included in October 19, 2001 Codification, Phase I.

Entire Subpart 4-7 included in October 22, 2004 Codification, Phase II.

November 10, 2006.