Bank Account Policy

EFFECTIVE DATE: September 12, 2007 |LAST UPDATED: June 17, 2014 | Policy Section: cash-handling-receipts-1

Responsible Executive

Carolyn Ainslie, vice president for finance and treasurer

Responsible Office

Office of the Controller

Contact

Peter Krivcov, pkrivcov@princeton.edu or (609) 258-5051

I. Policy StatementBACK TO TOP

The Office of Finance and Treasury establishes all bank accounts with banks and other financial institutions.

II. Who is Affected by this PolicyBACK TO TOP

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.

III. Definitions

Bank Account
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.

IV. PolicyBACK TO TOP

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.

V. Procedures BACK TO TOP

VI. Forms BACK TO TOP

VII. Contact Roles and Responsibilities BACK TO TOP

VIII. Update Log BACK TO TOP

9/10/2013

Updated to clarify policy and application to student organizations.

9/12/2007

Approved


 

CONTACT US

finance@princeton.edu
Tel (609) 258-3080
Fax (609) 258-0442

Princeton University
Office of Finance & Treasury
701 Carnegie Center
Princeton, NJ 08540

Google Map
Princeton Shuttle

FINANCIAL SERVICE CENTER

7 New South
Tel (609) 258-3080
Fax (609) 258-5040
Open Monday through Friday,
8:45 am — 5:00 pm

SERVICES INCLUDE

Customer service, cashiering,
check pick-up, financial system access

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