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POLICY ON LIMIT ON BORROWING HOSPITAL WORKING CAPITAL FROM SHORT-TERM INVESTMENT POOL
Approved May 19, 1989
Revised March 18, 1999

That effective March 18, 1999, the following guidelines be adopted to limit the amount of Short-Term Investment Pool (STIP) funds used by the University of California teaching hospitals for their working capital needs:

(1) A hospital's working capital borrowings from STIP for a month shall not exceed 60 percent of the hospital's total accounts receivable for that same month.

(2) The total working capital borrowing of all hospitals shall not exceed 15 percent of legally available cash balances in the unrestricted portion of the STIP.