Treasury Operations

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Treasury Operations provides cash management services, manages University investments, administers the commercial card programs and oversees credit card merchant services. Department responsibilities include monitoring daily cash needs, initiating and approving electronic bank transactions, tracking and issuing debt service payments, coordinating incoming and outgoing international exchange transactions, investing excess funds, assisting commercial cardholders, managing the PCI DSS compliance program, and serving as liaison to all financial partners.

Attention Current and Prospective P-Card Cardholders

P-Card Administration has changed its name to Card Services and is implementing a new commercial card program. Card Services will not process new cardholder applications during the transition process. Current cardholders are encouraged to attend a scheduled training session during the month of July so they can receive a new card as soon as possible. Current approving managers should also schedule a training session. Those who have not received instructions on how to apply for the new card and those who have immediate needs or questions should contact cardservices@niu.edu.

Faculty and staff who would like to become a commercial cardholder can apply beginning August 1, 2019. Prospective cardholders must attend a training session before they can receive their cards. Approving managers should also attend a training session. A link to the online card application and training registration link is listed under Resources on the Card Services section (below). 

Commercial Card Programs

Card Services administers the university’s Commercial Card Programs. The programs are designed to provide full-time faculty, staff and graduate student employees an efficient, cost effective method for making business-related purchases on behalf of the university. In addition, it offers a process for individuals to make travel arrangements without obligating personal funds. Benefits include fast and convenient purchasing, reduced paper usage, fewer cash transactions, and streamlined procurement and payable processes.

Commercial Card Programs Policies and Procedures (PDF)

Resources

Report a Lost/Stolen Commercial Card
To report your commercial card lost or stolen, immediately call J.P. Morgan Chase at 800-270-7760. Also, you should notify Card Services at cardservices@niu.edu. J.P. Morgan Chase will deactivate the card and reissue a new one.

Forms

Complete the Request for Change to Account form if you need to:

  • Add or delete a cost center
  • Add or delete an Approving Manager
  • Add or delete a Proxy
  • Decrease a credit limit permanently or temporarily
  • Increase a credit limit to no more than $25,000/month permanently or temporarily

Request for Change to Account (PDF)

Complete a Request for Exception form if you need to:

  • Increase the single transaction dollar limit for a one-time purchase
  • Increase the monthly transaction dollar limit for a one-time purchase
  • Request permission to purchase a prohibited item
  • Increase credit limit to more than $25,000/month permanently or temporarily

Request for Exception (PDF)

Training

New program participants are required to complete training prior to the distribution of cards. In-person training sessions are available regularly.

Register

Cash Management Services refers to the daily monitoring of the University’s bank account activity and balances. The review of daily cash needs provides a planning mechanism for the use of funds required specifically for accounts payable, student refunds, payroll, investing, and debt service.

Electronic Funds Transfers

Northern Illinois University primarily uses Automated Clearing House (ACH) and some wires to complete domestic (within the US) transfers.

Outgoing Funds:
Requests for outgoing electronic transfers must be initiated through Accounts Payable Services.

Incoming Funds:
Departments should notify Treasury Operations via email (Treasury@niu.edu) of all funds they expect to receive. 

Incoming International Wires: 
Northern Illinois University has partnered with Flywire to offer an innovative and streamlined way for students and customers to make international payments. Flywire’s mission is to save international students, their families, and international commercial customers money that would otherwise be lost on bank fees and unfavorable foreign exchange rates. In most cases, payments can be made in a payee’s local currency, and the foreign exchange rates are excellent compared to traditional banks. In addition, payments will be posted to university accounts faster, and users will be notified by email when the transfer is complete.

International Student Payments: 
Please see the Bursar's website for instructions.

International Non-Student Payments: 
To send an international wire to Northern Illinois University for payment other than student tuition and fees, please contact Treasury Operations at Treasury@niu.edu or 815-753-6242.

Outgoing International Wires: 
Requests for outgoing, international wire transfers must be initiated through Accounts Payable Services. Payments can be made in most foreign currencies. Suppliers should provide the university with invoices in their local currency. Foreign currency international wires have lower fees and settle faster than USD transactions.

For questions regarding outgoing, international wires, please contact Treasury Operations at Treasury@niu.edu or 815-753-6242.

Treasury Operations manages, records, and reports on University investments in accordance with the University Investment and Cash Management Policy and the Illinois Public Funds Investment Act.

NIU Merchant Services facilitates payment card acceptance and assists DoIT in managing the university’s Payment Card Industry Data Security Standards (PCI DSS) compliance program.

To learn more about becoming a credit card merchant, please contact Treasury Operations at Treasury@niu.edu or 815-753-5750.

Merchant Request Form (PDF)

PCI DSS is a set of 12 requirements for safely processing credit card transactions. It applies to all merchants who process, transmit and/or store credit card data. Treasury Operations and DoIT facilitate the University PCI DSS Compliance Program. Compliance includes, but is not limited to, ongoing training, documented procedures, annual merchant self-assessments, and external quarterly scans.

NIU has partnered with Trustwave to provide online self-assessment questionnaires.

The Payment Card Merchant Security Policy can be found on the DoIT website.

Contact Us

Treasury Operations
treasury@niu.edu

Card Services
cardservices@niu.edu