Accounting Services Section (ACT)
POLICY 29
Effective Date: 06/01/2003
Last Modified Date: 06/12/2003
General Policy
A University department or center may open an account and deposit University funds in a commercial bank only when specifically authorized, in writing, by the Chancellor. The University is providing a limited amount of unrestricted endowment income funds to support imprest bank accounts, primarily to facilitate payment to study subjects. Imprest funds are not to be used for payment of personal services, for payment to vendors, or for loans to employees.
Additional Information
See also:
ACT Procedure 5, Imprest Bank Accounts
ACT Appendix 12, Bank of America Signature Card
ACT Appendix 15, Statement of Justification for Imprest Bank Account
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