Account Creation, Policies, and Maintenance

Account Creation

Upon the Trustees', EVP for Finance or the Treasurer's approval, the bank account is opened and the Controller's Office creates an account in ARC.

 

Account Policies

Please read the Bank Account Policy updated as of May, 2014 for further details.

 

Account Maintenance

The account and checkbook must be safe guarded at all times.

There should be sufficient funds in the account to cover checks paid at all times. Accounts should not be overdrawn at any time.

The department must maintain a checkbook or record of disbursement  and deposits to the account.