Examples of Cash Custodian in a sentence
Employees requesting reimbursement from the petty cash fund will submit a receipt(s) to the Petty Cash Custodian who will review the receipt for reasonableness and indicate the nature of the expense on the receipt.
To mitigate this risk, the Sponsor has established that the OPCA’s assets be invested in highly liquid investments with only the highest credit ratings and maintained by a separate third party Cash Custodian under the terms of a written custody agreement, such that the OPCA assets are maintained in a separate segregated account with the Cash Custodian.
The Petty Cash Custodian, appointed by the Mayor, shall maintain a balance of $100.00 (one hundred dollars).
The Sponsor maintains the OPCA with one or more custodians (each, a “Cash Custodian”), and the OPCA is managed by one or more third-party cash managers (each, a “Cash Manager”) which may include the Sponsor, the Cash Custodian and/or any of their respective affiliates.
Further, while the OPCA investments are made at the discretion of the Cash Manager in accordance with the terms of a written cash management agreement, the custody of the investments at all times remains with the Cash Custodian.