Bank Accounts and the Use of Funds, Policy on

Policy Administrator: Vice President for Administration Authority:   PM 87-08, PM 01-02, PM 02-01 Effective Date: January 10, 2002 Updated: Index Cross-References: Policy File Number: UMB01550.htm

POLICY ON

BANK ACCOUNTS AND THE USE OF FUNDS

State law and relevant California State University policy require that all money received for goods, services or donations by the University, or any entity connected with the University be deposited in accounts approved by the University's Chief Fiscal Officer.  Accordingly, it is this institution's policy that all funds received by University related entities be deposited in accounts maintained by Business Affairs or one of the University's recognized auxiliaries as appropriate.

University related entities are defined as any organization that uses the University's name, initials, mascot or address.  The collection of funds must be conducted in a manner that facilitates proper cash control.  All funds will be used in manners consistent with relevant University policy. 

Exceptions to this policy are possible for unusual and documented circumstances.  Exceptions may be made only by the Vice President for Administration.