Managing Fund Accounts A. Hard copy files are to be maintained with authorizing and related documentation filed therein for all active funds. B. Financial Services is to review all transactions to ensure they are appropriately approved according to policy. Every account set up is to have a target closing date except Special Research accounts. D. A review is to be conducted annually of all funds with the intent of closing out older accounts and accounts with small balances. No further expenses are to be allowed in these accounts unless further funding is assured.
Every effort is to be made for repayment of debt balances.
G. Deans are to monitor the activity for all funds related to their departments, to ensure proper use of the resources. A recipient can authorize payment from the account to a third party.