Written requests to the Assistant Vice President for Finance for the establishment of a bank account should contain at least the following:
- Purpose for which account is needed.
- Volume of activity anticipated in both number of transactions and dollar amounts.
- Proposed title of account.
- Proposed authorized signatures. In addition to department or activity personnel, the Vice President for Business and Finance must be authorized to sign checks.
- Proposed bank location.
Once established, only pre-numbered deposit slips and checks will be used. Accounts will be formally reconciled at least monthly and be subject to audit.
Bank accounts which are not University controlled (such as accounts of student organizations) should not contain "University of Memphis" or "The U of M" in the title in a manner that would imply University control. | 