UNIVERSITY OF PITTSBURGH POLICY 01-02-04

CATEGORY:              ADMINISTRATION
SECTION:                  University Organization

SUBJECT:                 The Treasurer of the University            

EFFECTIVE DATE:    July 23, 2001 Revised
PAGE(S):                    1

I.    SCOPE

      This policy affirms the responsibilities of the Treasurer of the University.  The following is

      excerpted from the University of Pittsburgh BYLAWS.  (See Appendix A.)

II.   POLICY

      Subject to such regulations as the Board may adopt, the Treasurer shall be responsible for

      the investment and safekeeping of the funds of the University.

      The Treasurer shall furnish staff assistance to the Investment Committee in an advisory

      capacity regarding the investments of the endowment.

      Upon seeking the advice of the Board of Trustees or the appropriate committee thereof, the

      Treasurer shall be responsible for developing and maintaining investment guidelines and

      objectives, and may retain or dismiss the services of investment advisors, to whom the

      Treasurer may give authority for the investment and reinvestment of funds and the purchase

      and sale of securities and other investment assets.

      Any Assistant Treasurer elected by the Board shall have and may exercise all the powers

      of the Treasurer in the Treasurer’s absence or inability to serve.

III.  REFERENCE

      University of Pittsburgh of the Commonwealth System of Higher Education - BYLAWS,

      Chapter I, Article III, "Officers."  Adopted by the Board of Trustees, January 14, 1969, and

      as amended thereafter.