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 are 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:

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 bond rate/equity/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+ Refunding PG 5 2019A 2039 17,865,000
Aa3/AA-/A+ Parking Garage 61 2013A 2043 27,705,000
Housing System Aa3/ A+ Refunding2 2015A 2034 19,515,000
Aa3/A/A+ Parkview Hall II 2020A 2050 71,800,000
Aa3/A/A+ Refunding3 2021A 2041 43,620,000
Athletics Finance Corp Not Rated FIU Stadium 2009A 2032 22,735,000

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
Nov. 2020
AA-
Aug 2022
A+
July 2022
Housing System Housing Metrics Housing Debt Service Aa3
Mar. 2021
A
Aug 2022
A+
July 2022

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 Apartments, Panther Hall, and Lakeview Hall

3Includes refunding of bonds that financed the construction of University Park Towers, Everglades Hall, and Parkview Hall.

Information as of 08/25/2022.

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, 2021 of approximately $418.8 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 JrGerald 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 currently a 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.

Aime Martinez

Aime Martinez Ms. Martinez is the Interim Chief Financial Officer and Vice President for Finance and Administration. She is responsible for the management and administration of financial, facility, and business service operations of the University. Ms. Martinez has more than 20 years of experience in the areas of accounting, finance, real estate, investments, strategic and business planning. Prior to her appointment in this position, Ms. Martinez oversaw the alignment of divisional goals with overall FIU strategies. Ms. Martinez served as senior officer for the Finance and Administration Division and was involved in a wide variety of complex and sensitive administrative support activities. She served as the acting Vice President in the absence of the CFO and Sr. Vice President for Finance and Administration. Aime Martinez previously served as the Assistant Vice President of the FIU Foundation, Inc., and Support Organizations for five years. In this role she managed and directed the entities’ accounting, investments, budgeting, information systems, internal and external audit, and associated personnel. She also represented the Foundation and DSOs in various board, community, and business meetings. Ms. Martinez was also the Foundation’s Assistant Treasurer. Ms. Martinez has participated in various University wide committees such as the University’s Worlds Ahead Strategic Planning Committee, where she served as Chair for the Finance Committee for two plans, served on the Finance Committee of the College of Medicine Strategic Plan and is currently serving as the Chair of the Student Health Services Joint Governance Committee, Treasurer of the FIU Research Foundation and Finance Section Chief of the Emergency Operations Command Team. After several years in the private sector as an auditor and tax preparer in a public accounting firm as well as an accounting manager for an oil and gas public company, handling their financial reporting, Ms. Martinez returned to FIU in 2000. She accepted a position as Assistant Controller and worked her way to become Assistant Vice President and Associate Controller. She served in that capacity for seven years, she managed several areas in the Controllers during her tenure, including financial reporting, purchasing card program, investment and construction accounting, cash management, accounts payable, general accounting, audit, and payroll. For her outstanding service to the University Aime Martinez was awarded the FIU Presidential Excellence Award in 2006 and the FIU Presidential Service Excellence award in 2016. Ms. Martinez received a bachelor’s in accounting in 1996 with a minor in International Business and a master’s in accounting in 1999; she is also a licensed Certified Public Accountant.

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.

Benjamin Powell Jarrell

Benjamin Powell Jarrell Powell Jarrell joined Florida International University in 2009, he has more than 32 years of finance, banking, and treasury experience; 16 years of corporate finance and 16 years higher education finance experience. He is responsible for the management of the university's operating fund investment portfolio, liquidity assessments, and the outstanding debt issuances.






BOT Treasury Reports

Fiscal Year 2021-22

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.

Benjamin Powell Jarrell, University Treasurer

Benjamin Powell Jarrell bjarrell@fiu.edu — 305-348-3579
Powell Jarrell joined Florida International University in 2009, he has more than 32 years of finance, banking, and treasury experience; 16 years of corporate finance and 16 years higher education finance experience. He is responsible for the management of the university's operating fund investment portfolio, liquidity assessments, and the outstanding debt issuances.

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. He has had more than 8 years of experience in finance.