Procedure 7.5.1 Local Cash and Investments - History

System Procedures
for Chapter 7 - General Finance Provisions

for Board Policy 7.5

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Date of Adoption: 08/04/06
Date of Implementation: 08/04/06
Date of Last Review: 02/23/22

Date & Subject of Amendments:

2/23/22 - Part 5, Re-bidding of bank contracts, modified to require local bank service to be rebid at a minimum of every ten years, an increase from five years; also includes technical edits, and the application of new formatting and writing standards.

9/24/15 - Amended Parts 3, 4, 6, and 7 to reflect current terminology, processes, and requirements. Removed part 5 “Collateral” and inserted related requirements into Part 4.

5/17/11 - Modified Part 7, Management Expectations, to allow colleges and universities to establish, in consultation with a student organization, guidelines for expenditures from agency accounts.

11/5/09 - Part 5, technical changes to update FDIC insurance limits based on recent legislation changes.

07/27/09 - Part 5, FDIC limits updated; Part 6, RFP required for bank selection or selection based on local non-competitive basis must be documented by the university or college and approved by the vice chancellor - chief financial officer or designee

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