Opening University Bank Accounts Policy
Purpose
To provide appropriate restrictions on University bank accounts to ensure that University bank accounts are established only for University business purposes.
Scope
This policy applies to all students, faculty, and staff of the University of Dayton.
Policy History
Effective Date: March 23, 2016
Approval: October 29, 2025
Policy History:
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Approved in original form: March 23, 2016
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Approved as amended: October 29, 2025
Maintenance of Policy: Assistant Vice President and Treasurer, Finance and Administrative Services
Policy
The Executive Vice President for Business 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 of the Board of Trustees 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.