Cash Collection, Deposits & Reconciliation
The Office of Finance and Treasury establishes all bank accounts with banks and other financial institutions.
II. Who is Affected by this Policy
All departments and employees of the University are affected by this policy, including student organizations. Student organizations must also consult the Office of the Dean of Undergraduate Students website for more policy details.
This policy does not apply to organizations affiliated with the University that have their own unique federal tax identification number. Affiliated organizations must use their own federal tax identification number when establishing bank accounts.
An account at a bank or other financial institution using the Princeton University name and tax identification number, which is authorized and controlled by the central Office of Finance and Treasury.
The Office of Finance and Treasury establishes all banking and financial accounts with banks and other financial institutions for the deposit of University funds.
In the unusual situation that a department or program requires a bank account, they must submit a request to the Office of Finance and Treasury. (See contact above.) If banking needs cannot be met by existing banking arrangements and a specific bank account is required, the Office of Finance and Treasury will open the account. The department and program will then be responsible for instituting appropriate controls for maintaining the account.
VI. Roles and Responsibilities
10/1/18 - Updated Executive Sponsor listing.
9/10/13 - Updated to clarify policy and application to student organizations.
9/12/07 - Approved.