Treasury Summary

The Office of the Treasurer regularly publishes a brief summary containing analysis of the University's current position across several metrics. More detailed analysis of these metrics is available in their respective sections, which are linked above. Upon the Board of Trustee's approval this document is entered into their quarterly report, which can be found in the BoT Reports section. You can find out more about us in the Team section and follow our announcements in the Notices section.

Download our Treasury Summary [PDF] or view it below:

Sources and Uses

Our latest information is undergoing analysis and will be published soon using the latest visualization software available.

The following charts show a historical analysis of cashflows by quarter. The first chart shows the total amounts received and distributed, while the second and third charts discuss the sources and uses of those funds, respectively.

Cash Flow

Breakdown of Sources

Breakdown of Uses

Liquidity

The Office of the Treasurer monitors the University's liquidity position and ensures that sufficient funds are available for day-to-day operations. Our office also monitors how stressed markets would affect the University's liquidity position. That analysis is published in the Liquidity Stress Test, which can be found below. The stress test models the University's liquidity position in bottom decile fixed income performance, bottom decile equity performance, and bottom decile portfolio performance.

Download our Liquidity Stress Test [PDF] or view it below:

Debt Administration

Issuer Ratings Project Series Maturity Balance O/S
Parking System Aa3/AA-/A+ Parking Garage 5 2009B 2039 27,460,000
Aa3/AA-/A+ Parking Garage 61 2013A 2043 41,995,000
Housing System Aa3/A/A+ Refunding2 2011A 2025 16,250,000
Aa3/A/A+ Parkview Hall 2012A 2041 50,475,000
Aa3/-/A+ Refunding3 2015A 2034 26,295,000
Athletics Finance Corp Not Rated FIU Stadium 2009A 2033 30,000,000
2009B 2017 718,607
FIU Foundation Not Rated MARC Building 2010 2021 5,420,000

Additional/Annual Disclosures Latest Rating Agency Actions
Component Key Metrics Debt Service Schedule Moodys S&P Fitch
University Demand Metrics University Debt Service
Parking System Parking Metrics Parking Debt Service Aa3
Dec. 2014
AA-
Jul. 2014
A+
Feb. 2016
Housing System Housing Metrics Housing Debt Service Aa3
Dec. 2014
A
Jul. 2014
A+
Feb. 2016

1Includes refunding of bonds that financed the construction of Blue, Panther and Red Garages.

2Includes refunding of bonds that financed the construction of University Park Towers and Everglades Hall.

3Includes refunding of bonds that financed the construction of University Park Apartments, Panther Hall, and Lakeview Hall.

Information as of 07/1/2016.

Investment Management

The Treasurer's Office oversees the investment of the University's cash and operating funds. The Treasurer is charged with investing and overseeing the University's short and long-term funds with a market value as of fiscal year ending June 30, 2014 of approximately $291.5 million, by maximizing total return consistent with reasonable protection of principal and in accordance with the Board of Trustees investments policies and philosophy. The portfolio is comprised of a series of externally managed equity, fixed income and alternative investments. The office's investment responsibilities include the management of the asset allocation of the University's investment portfolio; oversight of external investment managers; reconciliation services for all bank accounts and timely reporting and performance analysis for all portfolios, and providing the CFO, President, and Board of Trustee committees with the information they require to responsibly oversee investment activities.

Investment Policy (.PDF)
Investment Performance

Gerald Grant Jr, Chair

Gerald Grant Jr Gerald Grant Jr, two time "Branch Manager of the Year" for Great Western Bank, former Branch VP & Cluster Manager at Citibank, and Master of Business Administration from Florida International University, is Branch Director of Financial Planning for AXA Advisors' South Florida Branch. He also holds FINRA Series 7, 63, 65, 24, and 26 Securities Registrations and is insurance licensed. Grant now publishes financial advice through his book, 'Bold Moves to Creating Financial Wealth'. He actively participates in the South Florida community, serving on the Board of Directors for United Way of Miami-Dade. Gerald is a past-President of (NAIFA) National Association of Insurance and Financial Advisors, Miami-Dade Chapter, a past-President of the Florida International University Alumni Association, as well as a current Member of the Orange Bowl Committee, and Phi Beta Sigma Fraternity, Inc.-Theta Rho Sigma Chapter.

Chun-Hao Chang, Ph.D.

Chun-Hao Chang Dr. Chang is the current Chair and Professor for the Department of Finance and Real Estate. He has obtained a Ph.D. in Managerial Economics and Decision Sciences from Northwestern University. His areas of expertise are corporate finance, information economics, investments and mortgage choice and finance. Dr. Chang's research has been published in Journal of Banking and Finance, Southern Economic Journal, Journal of Financial Research, International Economic Review, Management International Review, Decision Sciences, International Journal of Finance, and others. His article, 'Why a Decision Maker May Prefer a Seemingly Unfair Gamble (with Arun Prakash, Shahid Hamid and Michael Smyser), is listed in the Hall of Excellence of ANBAR Electronic Intelligence. Dr. Chang has presented his papers to various academic and professional associations. In 1994, he received the Excellence in Research Award from the National Science Foundation in Taiwan. Dr. Chang has taught and developed various courses in finance and economics for undergraduate, MBA, Executive MBA and doctoral students. He recently received the Florida International University faculty award for Excellence in Teaching.

Kenneth A. Jessell, Ph.D.

Kenneth Jessell Kenneth A. Jessell is Senior Vice President for Finance and Administration and Chief Financial Officer at Florida International University, a position he has held since July 2009. As Senior Vice President and Chief Financial Officer, Dr. Jessell is responsible for the management and administration of financial, facility, and business service operations of the University. Dr. Jessell is also a Professor of Finance in the College of Business Administration at Florida International University. Prior to his appointment in this position, Dr. Jessell served as the Senior Vice President for Financial Affairs at Florida Atlantic University. During his 26 year career at Florida Atlantic University, Dr. Jessell served in several key leadership positions, including Interim University Provost, Interim Vice President for University Advancement and Executive Director of the FAU Foundation, Associate University Provost, and Associate Dean in the College of Business Administration. Dr. Jessell started his employment at FAU in 1983 as an Assistant Professor in the Department of Finance and Real Estate. Dr. Jessell's teaching and research interests are in the areas of financial management and real estate finance and appraisal. He has published sixteen articles and abstracts in academic journals including The Financial Review, Journal of Cash Management, The Appraisal Review, Housing Finance Review, Applied Economics and Journal of Financial Education. He has also presented several research papers in the areas of finance and real estate at professional conferences and organizations, including the Oxford Roundtable in Oxford, England. Dr. Jessell received his Baccalaureate Degree in Political Science from The Florida State University. He also holds a Master of Business Administration Degree and a Doctor of Philosophy Degree in Finance, both also from FSU.

Deanne Butchey, Ph.D.

Deanne Butchey Dr Deanne Butchey is a Senior Lecturer in the Department of Finance at Florida International University (FIU) and holds a PhD in Finance. Before joining FIU, Dr. Butchey worked as an Investment Banker and Financial Services Stock Research Analyst at Credit Suisse First Boston in their Toronto offices. Dr. Butchey has contributed significantly to FIU's initiatives to engage the community in mutually beneficial ways. Since spring 2008, she has led a service learning project in her online Financial Markets and Institutions class where student groups teach financial literacy skills to high school students, recent immigrants and newcomers to South Florida and other disenfranchised residents through various community centers (including the Chapman Community Partnership for Homeless), high schools, libraries and religious organizations. For this project she has been honored with the 2013 "Spirit of Service-Learning Award" awarded by the Returned Peace Corps Volunteers of South Florida Inc. (RPCVSF), the Miami-Dade Teacher of the Year Coalition, and the Armando Alejandre Jr. Foundation. She is also a faculty advisor to ENACTUS @ FIU, a student organization that aims to facilitate the impactful collaborations of students and community partners by creating, commercializing, and enhancing innovative social entrepreneurship projects to stimulate economic advancement.

Tony Vu

Tony Vu Tony Vu joined Florida International University in 2008 as the Treasury Manager with 20 years of finance, banking and treasury experience. Serving as the University Treasurer since 2009, Mr. Vu is now responsible for the application of best practices in the management of the university's liquid financial assets in accordance with the university regulations, Board of Trustees policies, state and federal statutes. The University Treasurer's three main areas of responsibility include liquidity management, debt administration and investment management. Mr. Vu also serves as the chair of the University Investment Committee which oversees the safekeeping and investment of $300 million in the university's operating funds. In 2010, he was recognized by Brickell Magazine in its 2010 Top 20 Professionals Under 40 cover story. Most recently, he completed The High Potential Leader Program with FIU's Center for Leadership and also serves as a lecturer for the College of Business.

BOT Treasury Reports

Fiscal Year 2015-16 Fiscal Year 2014-15 Fiscal Year 2013-14 Fiscal Year 2012-13 Fiscal Year 2011-12 Fiscal Year 2010-11 Fiscal Year 2009-10 Fiscal Year 2008-09 Fiscal Year 2007-08

About Us

The Office of the Treasurer's mission is to grow the University's financial resources from both internal and external sources. We focus on applying best practices to liquidity monitoring, investment management and debt administration.

Tony Vu, University Treasurer

Tony Vu pvu@fiu.edu — 305-348-2544
Phong "Tony" Vu joined FIU in 2008 with 20 years of finance, banking and treasury experience. As the University Treasurer, Mr. Vu is responsible for the management of the university's $300 million operating funds investment portfolio and $200 million in outstanding debt. Mr. Vu received his BSBA in Finance and MBA in Finance/Competitive Strategy from the University of Florida. In 2010, Mr. Vu was recognized by Brickell Magazine in its "2010 Top 20 Professionals Under 40" cover story. Most recently, he completed The High Potential Leader Program with FIU's Center for Leadership and also serves as a lecturer for the College of Business.

Powell Jarrell, Treasury Manager

Powell Jarrell bjarrell@fiu.edu — 305-348-3579
Powell Jarrell joined Florida International University in 2009 as a Senior Financial Analyst. He has more than 15 years of corporate finance and 6 years of higher education finance experience. As the Treasury Manager, he is responsible for supporting the debt administration and accounting activities for the department. Mr. Jarrell holds a Masters in Accounting from St. Thomas University.

Kirk Staley, Treasury Analyst

Kirk Staley kstaley@fiu.edu — 305-348-7141
Kirk Staley joined Florida International University in 2013 as a Treasury Analyst. He is responsible for supporting the investment management functions for the department. Mr. Staley holds a BA in Finance from Florida International University.

Notices


IRMA Certificate
24 Jun 2015
This documents informs the public about our Independently Registered Municipal Advisors.
IRMA Certificate [PDF]