University Treasurer's Office

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Mission:

Our mission is to provide quality services to the campuses in a professional manner, utilizing the advantages of economies of scale in reducing costs and increasing quality wherever possible.
The Treasurer's Office has sole responsibility for all traditional treasury finance functions of the University of Massachusetts including managing all financial institution relationships including external portfolio managers, securities investment, cash management, debt management and bank reconciliation. In addition, the Treasurer's Office provides services in the areas of tax administration, optional employee benefits, risk management and insurance to the five campuses. The Treasurer's Office has additional responsibilities for check production along with payroll deduction disbursements.

Functions:

Investment and Cash Management

The Treasurer's Office oversees the investment of the University's Operating Cash Portfolio. The portfolio is comprised of a series of externally managed equity and fixed income portfolios. The Treasurer's Office provides reconciliation services for all bank accounts. The Treasurer's Office provides timely reporting and performance analysis for all portfolios.

Tax Administration and Compliance

The Treasurer's Office is responsible for the interpretation of federal and state tax law as it relates to operations of the University. The Treasurer's Office is responsible for the dissemination of tax policy and training of campus personnel in the areas of tax compliance. The Treasurer's Office is responsible for the distribution of tax pronouncements related to various activities of the campus.

Risk Management

Optional Employee Benefits
The Treasurer's Office oversees over 5,500 tax sheltered annuity and deferred compensation accounts for University employees at all 5 campuses. This segment of the office facilitates contributions in excess of $25,000,000 of tax deferred investments on an annual basis. In the area of tax sheltered annuities and the deferred compensation programs, the Treasurer's Office provides general information about personal tax deferral issues, maximum deferral amounts and investment alternatives.

Insurance and Risk
The Treasurer's Office manages a variety of insurance programs designed to minimize losses associated with the adverse effects of unforeseen events. The major University wide insurance programs are: Commercial General Liability Insurance, Automobile Liability Insurance, Director and Officer Liability Insurance and Comprehensive Crime/Employee Bond Insurance. The Treasurer's Office is responsible for the coordination and approval of all insurance policies. Additionally, our Office works in partnership with University General Counsel to administer all insurance claims. The Treasurer's Office provides professional expertise in each type of insurance and fields ongoing questions from all five University campuses. Certificates of Insurance are issued throughout the University community as requested.

Capital Finance
The Treasurer's Office facilitates and manages finance activities and programs that benefit the University system. For example, the Treasurer's Office assists the campuses in obtaining tax-exempt financing for capital equipment purchases through the utilization of the University's Pool Loan Program and the University's Master Lease Program. The Treasurer's Office also maintains relationships with the University of Massachusetts Building Authority and Massachusetts Development Finance Agency.

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