Florida Atlantic University is permitted to invest local funds to maximize the potential earnings through investment of the available cash. The goal of the investment policy is to select strategies to grow the University's assets while simultaneously preserving the principal. The University shall use the strength of the State of Florida by utilizing the State Board of Administration to invest the assets in accordance with Chapters 18 and 280, Florida Statutes.
The long-term return objective for the University's assets is to achieve a minimum return equal to the Consumer Price Index (CPI) on all funds duly invested in by the University.
Florida Atlantic University utilizes the State Board of Administration for the investing of available funds. The investment manager at the State Board of Administration will make investments in accordance with their investment regulations as outlined in Section 18.10, F.S.
Florida Atlantic University may liquidate investments daily in order to meet current obligations.
The Assistant Controller reviews available balances and outstanding obligations daily. Amounts due from the Clearing Fund are included and any excess funds, up to cash on hand, are invested fund by fund. Investment documents and General Accounting entries are also prepared, submitted, and filed on a daily basis, as are all transfers to the Treasurer's Office
Existing software used by the Treasurer's Office is available for processing increases in investments and liquidation of investments to pay for most travel expenditures with personal funds and wait for reimbursement.