The Treasury Institute for Higher Education Origins
In the late 1980’s and 1990’s, Higher Education went through a transformation in its financial management. Large universities saw significant growth in their real, endowed and operating assets resulting in their balance sheets emulating large corporations. These institutions distinguished themselves in the way they managed these assets and leveraged their balance sheets to build world class campuses. At the same time, faculty from regional and national cash management workshops recognized there was little offered in guiding financial officers through this evolution.
Jon Speare and Dennis Reedy, with input from other industry experts, developed a concept to create an independent organization to meet the need for advanced professional development. Their belief in the benefits of face-to-face interactive forums and “best practice” sharing set the foundation for the Institute’s programs. Leveraging the successes of regional groups, such as the Big Ten Treasurers, the Boston Consortium and the Ivy-Plus Treasurers, a national model was developed. Ultimately, with financial backing from partners and the support of the higher education community, the Treasury Institute was launched in 2000. A new Treasury Symposium addressed current strategic issues and become the forum to discuss evolving challenges in higher education financial management.
The Treasury Institute for Higher Education’s Original Mission:
The mission of the Institute is to promote connections within the higher education treasury/finance community focused on providing superior quality, practitioner-driven content that improves the efficiency, and effectiveness in the treasury and financial practices.
Ensuring that the Treasury Institute followed its mission, a Board of Directors was selected from large schools, both public and private, from regions across the country. Besides Jon Speare and Dennis Reedy, these individuals helped formulate the Treasury Institute and it’s Treasury Symposium. Through the years, several senior officers have served to govern the Institute, assisting it to deliver on its mission and position it to meet future needs.
The first Treasury Symposium was facilitated in January 2001 in New Orleans. Approximately ninety senior officers and industry experts participated in three days of general and concurrent sessions focused on “Leading Treasury Innovation in Higher Education”. The Institute’s initial partners, Commonfund, NACUBO and AFP, provided much of the resources needed to make Treasury Symposium a reality. From this first program and the Treasury Symposiums that followed, the Institute became an important platform for the financial needs in higher education. Additional offerings included:
The first Treasury Symposium was facilitated in January 2001 in New Orleans. Approximately ninety senior officers and industry experts participated in three days of general and concurrent sessions focused on “Leading Treasury Innovation in Higher Education”. The Institute’s initial partners, Commonfund, NACUBO and AFP, provided much of the resources needed to make Treasury Symposium a reality. From this first program and the Treasury Symposiums that followed, the Institute became an important platform for the financial needs in higher education. Additional offerings included:
- The Treasury Academy – A Masters Level Course affiliated with Purdue University
- Treasury Management Best Practice Award – offered by University Business
- University Benchmarking – in conjunction with Treasury Strategies
- The Internal Bank – two white papers on financial management structure
- PCI DSS Compliance Workshop – the first PCI program solely focused on higher education business needs (Now The Payments Academy)
- Treasury Concepts – offered through the Treasury Institute and in conjunction with WACUBO and SACUBO
- Tax-Exempt Bond Compliance Conference – Compliance needs for higher education
- CBMI Treasury Management Track – a weeklong course load partnering with CBMI and SACUBO
- Senior Financial Officers Roundtable – quarterly discussions with large university Chief Financial Officers
The Treasury Institute’s programs focus on the strategic challenges of higher education through exceptional professional development and peer networking. This work continues utilizing a practitioner driven model and the strong support of the higher education community.
Jon K. Speare
Executive Director
Dennis W. Reedy
Executive Director Emeritus