Policy on Opening University Bank Accounts
Policy on Opening University Bank Accounts
Purpose
To ensure that University bank accounts are established only for University business purposes.
Scope
All employees and students of the University of Dayton.
Policy History
Effective Date: March 23, 2016
Approval: March 23, 2016
Policy History:
- Approved in original form: March 23, 2016
Maintenance of Policy: Treasurer's Office
Policy
The Vice President for Finance and Administrative Services and the Assistant Vice President and Treasurer and their designees are the only employees authorized to establish bank accounts on behalf of the University or any of its related organizations, clubs, departments, etc. Depending upon bank requirements, the Board of Trustees or the Executive Committee may also be required to approve the accounts.
The use of the University’s name and/or Federal Tax Identification number to open unauthorized bank accounts is strictly prohibited.