University of Iowa

Treasury Operations

  • UI Operations Manual states that only certain central offices are permitted to opening University of Iowa bank accounts.  Collegiate units and departments should work with the Treasurer’s if they have specific banking needs.
  • UI Endowments & Quasi Endowment Funds  - All UI endowment accounts are tracked within the Treasury Operations MFK’s.  Payouts are then transferred to collegiate unit MFK’s for spending.  Fiscal year payouts are calculated and announced in March to facilitate the awarding of scholarships and the annual budget process by college departments for each upcoming fiscal year.
  • ACH & Wire Transfers -
    • Any electronic bank receipt which cannot be identified by Treasury Operations will be booked to a central University holding account MFK: 275-05-0303-00000-50509300-4599-000-00000-00-0000.  Units should check the holding account if an expected deposit does not get deposited in their departmental MFK.
  • Credit Card Services – Units must obtain prior approval to accept credit cards as a form of payment.