8.4 Treasury Policy

Tilburg University's treasury policy is based on the Treasury Statute in line with the OCW’s 2016 Investment, Borrowing, and Derivatives Regulations. The Treasury Statute was updated in 2022 and approved by the Board of Governors on May 30, 2022.

Tilburg University has placed all liquidity with the treasury of the Ministry of Finance. The investment portfolio still contains one bond as of December 31, 2022, which can be held until maturity. No new bonds will be purchased as part of Treasury Banking.

Cash flow planning for the next planning period is based on the estimate of the government contribution, tuition fees, multi-year budgets of the organizational units, the strategic real estate vision, and historical data. Investments in fixed assets are financed from our own resources whenever possible. The EY/Montesquieu forecasting model is used for this planning.

Treasury actively manages the size of the current account balance while ensuring continuity of operations.

In the financial statements, the bond is stated at fair value at the balance sheet date. Unrealized price changes since purchase (decreases to purchase price) are recognized directly in the securities revaluation reserve. Due to price appreciation, this reserve increased in 2022.