SUBJECT: Procedures for establishing Bank Accounts
Certain situations may arise when a department needs the
use of a bank account to accommodate a business transaction.
For most circumstances the University of Nebraska, Lincoln
(UNL) will already have a bank account established that
will facilitate whatever activity is being considered.
Following are the detailed procedures to be used for the
management of bank account activities:
Use of the name “University of
Nebraska, Lincoln” (UNL) in a bank account
title and use of the UNL tax identification
number on a bank account is strictly prohibited.
When a department has a need to transact
business directly with a bank, they must contact the Office
of the Bursar for assistance in making the necessary arrangements.
All signature card activity must be approved
by the office of the Assistant Vice Chancellor for Fiscal
Affairs through the Bursar’s Office. Any request
to financial institutions for an alteration to a signatory
authority on behalf of UNL must come from Fiscal Affairs.
When there is a change in personnel with
signatory authority, departments must contact Fiscal Affairs
immediately.
For departments that have received permission
to enter into a banking relationship, it will be mandatory
that a monthly reconciliation be filed with the Office
of the Bursar. Assistance completing the standard
reconciliation form is available by contacting the
Bursar’s Office.
The above procedures and restrictions are not subject to
waiver or change by the department. Need for interpretation
should be discussed with the Bursar.
