ROWAN UNIVERSITY POLICY
Title: Use of Rowan’s Name on Bank Account
Subject: Accounting Services
Policy No: AS:2016:02
Issuing Authority: President
Responsible Officer: Senior Vice President for Finance and CFO
Last Revision: 11/12/2018
Last Reviewed: 11/12/2018
To establish a policy that governs all bank accounts maintained for operational purposes including institutional accounts, departmental accounts, and all other operating bank accounts.
Under the direction of the Senior VP of Finance and CFO, the Assistant Vice President for Finance and Controller shall ensure compliance and implementation of this policy.
This policy applies to all staff at Rowan University. Fiscal staff is responsible for adhering to this policy and the Accounting office staff to ensure adherence.
There are no definitions for this policy.
There are no references for this policy.
Rowan University maintains multiple bank accounts for various business purposes. These accounts are registered under Rowan's name and Corporate ID number at these banks, and include only signers that are listed in our current Corporate Banking Resolution approved by the Board of Directors of the University. Because of various tax and regulatory ramifications, the use of Rowan University, R.U., or Rowan in the name of the account, or the use of Rowan University's Corporate ID number for any other bank accounts is prohibited.
All those that set up or modify bank accounts.