Treasury Services

The Office of Treasury Services coordinates various functions related to the management of operating investments, cash and credit cards, long-term debt, and real estate and property management. 

Cash Management

Our office prepares a daily cash report each business day. All incoming and outgoing funds are accounted for in the Banner system. The Cash Management staff works closely with the Cashier's office, Spider Management Co, and the Advancement office to accurately record all bank deposits, wire transfers, and electronic funds transfers. Monthly bank reconciliations are completed by the Cash Manager.

Departments should deposit all cash/checks at the cashier window using a three-part Deposit Form. It is important to make your deposits in a timely manner for security reasons and in order to have your department budget reflect all revenue accurately.

Credit Cards and PCI Compliance

The Payment Card Industry (PCI) has created a set of standards that all merchants accepting credit cards must adhere to in order to maintain as secure an environment as possible. They are called Payment Card Industry-Data Security Standards (PCI-DSS) and can be accessed at www.pcisecuritystandards.org.

University of Richmond Payment Card Practices

Purpose:

The purpose of this document is to help assure that the University of Richmond is (1) being responsible stewards of personal information entrusted to it by its constituents, (2) protecting the privacy of its community and affiliates, (3) complying with the Payment Card Industry (PCI) Data Security Standards, and (4) working to avoid a security breach from unauthorized and inappropriate use of cardholder information.

Practices:

The following statements encompass the University of Richmond payment card practices:

• Compliance with the Payment Card Industry Data Security Standards (PCI DSS) is required of all University of Richmond employees and departments that accept, process, transmit, or store payment cardholder information.
• Only University of Richmond employees who are properly trained may accept and/or access cardholder information, devices, or systems which store or access cardholder information.
• Only PCI DSS compliant equipment, systems, and methods may be utilized to process, transmit, and/or store cardholder information.
• Each University of Richmond employee who has access to cardholder information is responsible for protecting that information in accordance with PCI DSS and University policy and procedures.
• The events and circumstances of a suspected security breach which can negatively affect cardholder information or the University's compliance with PCI DSS must be immediately reported and investigated in accordance with the Data Exposure Policy.
• Vendors and service providers operating on the University of Richmond campus that accept credit cards must execute a contract addendum assuring their compliance with PCI DSS. Non- University of Richmond employees who are acting on the University of Richmond's behalf must comply with PCI DSS.
•  All credit card processing is subject to review by the Ecommerce Committee. This includes credit card payments received via: web forms; walk-in, phone calls, faxes, or mail; and off-site events.

Because of the substantial fines and penalties that can be levied against the University of Richmond, PCI compliance is of absolute importance.