Section: Financial
Policy Number: 3-31
Policy Name: Banking/Financial Services
Date: June, 2010
Revisions:

 

  1. PURPOSE

    To outline the approvals required in establishing new or changing existing banking/financial services and related agreements.

  2. POLICY

    Treasury Services, within the Office of the Vice President for Finance, is responsible for University-wide coordination of banking and other financial services.

    The Assistant Vice President for Treasury Services will provide, assist, or make arrangements for banking and financial services for University departments as appropriate and within the parameters of Board of Trustees policy. The AVP for Treasury Services is the approval authority for all such arrangements at the University. These include but are not limited to establishment of new bank accounts, all changes to existing bank accounts, collection and disbursement activity, provision of other banking or financial services, international banking, bankcards, credit card processing, and the electronic transmission of any collection or disbursement activity.

    The negotiation or execution of agreements related to establishment or maintenance of domestic or international bank accounts, or to banking or related financial services as mentioned above, requires the advance review and approval by Treasury Services. In addition, any and all Requests For Proposals which are expected to include the provision of any financial services, particularly those listed above, must be submitted to Treasury Services for approval prior to release by Procurement Services.

Questions related to this policy may be directed to x2107 or Treasury Services email

Responsible Unit: Vice President for Finance