ROWAN UNIVERSITY POLICY

Title: Bank Account & Use of Rowan's Name on Bank Account Policy
Subject: Accounting Services
Policy No: Fin: 2015:07                                                                    
Applies: University-Wide        
Issuing Authority:  President
Responsible Officer: Senior Vice President for Finance and CFO
Adopted: 10/3/2016
Last Revision: 05/06/2026
Last Reviewed: 04/30/2026

I. 

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 PURPOSE

To establish a policy governing all bank accounts maintained for operational purposes, including institutional accounts, departmental accounts, and any other operating bank accounts.

II. 

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ACCOUNTABILITY

Under the direction of the President, the Senior Vice President for Finance and Chief Financial Officer (CFO) is responsible for implementing this policy. The Associate Vice President for Finance and Controller is responsible for ensuring compliance with this policy.

III.

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APPLICABILITY

This policy applies to all faculty, staff, and student organizations engaged in financial activities on behalf of the University. All individuals are responsible for maintaining fiscal responsibility and exercising appropriate financial controls. The Finance Division is responsible for monitoring and ensuring compliance.

IV.

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DEFINITIONS

There are no definitions applicable to this policy.

V.  POLICY

The University maintains multiple bank accounts for various business purposes. All such accounts must be established in the University’s name and under its Federal Employer Identification Number (EIN). Accounts must also be registered using the University’s corporate identification number and may include only authorized signers as defined in the current Corporate Banking Resolution approved by the University’s Board of Directors.

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