| Contact | |
|---|---|
| General Inquiries | treasurysp@austincc.edu |
| Payment/Refund Inquiries | mymoney@austincc.edu |
Financial Transformation & Treasury (FTT) is dedicated to enhancing and streamlining ACC’s financial operations. As a critical component of the Business Services Office, FTT focuses on implementing innovative solutions, optimizing processes, and providing comprehensive support to ensure efficient and effective transaction processing.
Our key services include:
- Training Sessions for Groups and Individuals: FTT conducts curated training sessions to empower teams and individuals by effectively transferring the knowledge needed to navigate financial processes and systems.
- Supplier Portal: Maintaining and supporting a user-friendly supplier portal that facilitates self-service, efficient communication, and transaction processing between the College and its suppliers. FTT can also manually create and update supplier accounts and complete the onboarding process.
- Settlement Runs: Reviewing and processing settlement runs to ensure timely and accurate payments.
- Escheatment Processes: Completing the escheatment processes to manage unclaimed property (payments) and ensure compliance with state regulations regarding abandoned financial assets.
- IRS Forms 1099 and 1042 Reporting: The preparation and transmission of 1099 and 1042 forms to ensure compliance with IRS reporting requirements.
- DebtBook Updates: Keeping accurate records of the organization’s debt obligations, capital leases and software licenses to facilitate compliance with GASB 87 and GASB 96 reporting.
- Utility Payments: Reconciling utility invoices to the payments to ensure the College has uninterrupted services and efficient cost management.
- Software Implementation: Leading the selection and implementation of new finance-related software solutions to improve data accuracy, streamline business processes, improve financial reporting, and optimize system functionality.
Financial Transformation & Treasury’s mission is to be a catalyst for positive change within the organization’s financial operations. Through our expertise, innovative solutions, and dedicated support, we drive efficiency, compliance, and growth, positioning the organization for long-term success.
ACC has developed an online supplier registration for all businesses that are interested in providing goods and services, professional services, non-professional services and construction services to the District. This list includes certified Small Local and Business Enterprise (SLBE) suppliers. Visit the Supplier Registration page for instructions, or go directly to the ACC Supplier Request Portal to login.
Supplier registration is a two-step process:
Complete the ACC-specific supplier registration. ACC encourages all Small Businesses to certify as an SLBE if they meet the guidelines.
Ensure you have a profile in the management system.
The IRS 1099 forms are a group of tax forms that document payments made by an individual or a business that typically isn’t your employer. The form reports payments made during the tax year. The payer is responsible for filling out the appropriate 1099 tax form and sending it to the payees. The IRS requires payers to provide most 1099 forms by January 31.
The IRS 1042 form is used to report the tax withheld from the income of foreign persons, including nonresident aliens, foreign partnerships, foreign corporations, foreign estates, and foreign trusts.
FTT is in charge of providing Business Partners with trainings when necessary. Find more information on the Learning & Development page.
For information about bonds and investments, email us at treasurysp@austincc.edu.
Treasury
ACC’s Treasury department is dedicated to managing the financial assets and liabilities of our organization. Our primary responsibilities encompass a broad range of activities aimed at ensuring financial stability, optimizing liquidity, and mitigating financial risks.
The Treasury department stands as a pillar of financial management and strategic planning within the institution. The department, overseen by the Vice-Chancellor, Business Services Office, plays a pivotal role in safeguarding ACC’s fiscal integrity and advancing its mission of academic excellence and community impact.
Our mission lies a commitment to excellence and integrity in financial stewardship. Through our diverse range of responsibilities, we strive to uphold the highest standards of transparency, accountability, and efficiency. Treasury is responsible for a plethora of essential tasks critical to ACC’s financial health and operational efficiency; these include:
- Banking: Managing ACC’s banking relationships and transactions to optimize financial resources and support institutional goals.
- Banking Relations: Managing relationships with banks and financial institutions to negotiate favorable terms and secure essential financial services.
- Bond and Project Accounting: Overseeing the financial aspects of projects and bond issuances, ensuring compliance with regulatory standards and prudent financial management practices.
- Cash Flow Projections: Providing accurate and timely projections of cash flow to support informed decision-making and effective resource allocation.
- Cash Position: Efficiently managing the College’s liquidity stakes by considering factors like cash inflows (deposits), cash outflows (payments and withdrawals), pending transactions, and available liquid assets to ensure adequate liquidity for operational needs, investment opportunities, and emergency situations.
- Debt Management: The Executive Vice-Chancellor, Finance and Administration/Chief Financial Officer (CFO) oversees the College’s borrowing activities, including issuing bonds and securing debt, to finance growth and effectively manage the liabilities. The CFO formulates strategies for the responsible management of ACC’s debt obligations, balancing financial commitments with long-term sustainability objectives. The Investment Officers operationalize the decisions to ensure positive financial audit outcomes.
- Financial Reporting Support: Offering crucial support for the completion of interim financial reports and the Annual Comprehensive Financial Report (ACFR), maintaining transparency and compliance with regulatory requirements.
- Financial Risk Management: Identifying, assessing, and mitigating financial risks, such as interest rate fluctuations and currency exchange volatility, to protect the College’s financial health.
- Investment Management: The Investment Officers, who act on behalf of ACC, are charged with investing funds in instruments in accordance with the Public Funds Investment Act (Chapter 2256, Texas Government Code). Strategically investing ACC’s funds to achieve optimal returns while maintaining a balanced risk profile. To comply with the Board-approved Investment Policy, Treasury must:
- Understanding of the suitability of the investment;
- Preservation and the safety of the principal;
- Liquidity;
- Marketability of the investment if the need arises to liquidate the investment before maturity;
- Diversification of the investment portfolio; and
- Yield.
- Regulatory Compliance: Ensuring adherence to the relevant financial regulations and reporting requirements to maintain transparency and trust.
How Does Treasury Make a Difference?
Treasury’s mission is to be a reliable financial steward, dedicated to safeguarding the organization’s assets, optimizing financial performance, and supporting sustainable growth. Through our expertise and strategic approach, we plan to have a positive impact on the ACC’s financial health and future success. Through our diligent efforts and strategic initiatives, Treasury contributes to ACC’s overall success by:
- Enhancing financial transparency and accountability
- Maximizing the efficient use of financial resources
- Facilitating informed decision-making at all levels of the institution
* If you’re expecting a payment/a refund – from a customer, vendor, supplier, or sponsor, etc.
- Please send an email to mymoney@austincc.edu.
- Please provide as much information as possible to identify the payment and payor:
- The invoice or unique identifier,
- The dollar amount you are expecting,
- Provide the accounting information: i.e., Fund, Functional Classification, GL Account, Revenue (Spend) Category, Cost Center. Please provide the Project, Grant, or Gift Number, if applicable.
- The Treasury team may reach out to you, if additional information is required
- The Treasury team keeps an eye out for the payment.
- Once the payment is received, the Treasury team posts the funds.
- If you need to inquire about the payment, you may contact the Treasury team at mymoney@austincc.edu.