308.01: Cash Management

In accordance with ACCS policy, the President of Enterprise State Community College shall establish a cash management and investment program for institutional funds in accordance with the procedures set forth by the Chancellor. The President is authorized to select the depository of funds for their respective institution. Financial institutions utilized as depositories must be insured by FDIC/FSLIC and must be designated as a member Qualified Public Depository (QPD) in the Security for Alabama Funds Enhancement (SAFE) program. The President shall designate the chief financial officer to be responsible for the day-to-day activities and functions of the program. Such officer shall be bonded in an appropriate amount in accordance with Board of Trustees Policy 302.01. The designee shall manage both daily cash flow and short-term investments.