| VOLUME VI: |
POLICIES RELATED TO ACCOUNTING ADMINISTRATION |
| SUBJECT: |
Write off of Outstanding University Checks |
| SOURCE: |
Indiana Code, Office of the Treasurer |
| DATE ISSUED: |
October 1990 |
| REVISION DATE: |
February 1996; September 2005; December 2005 |
| POLICY NO.: |
I - 530 |
| RATIONALE: |
To ensure that university financial records are updated in an accurate and timely manner for all transactions relating to the write off of outstanding university payroll and disbursement checks. |
| POLICY: |
All payroll and disbursement checks that remain outstanding for six (6) months after the check date will be written off and the funds deposited in a special university account.
|
| DEFINITIONS: |
Outstanding Check A check issued by the University that has not been cashed or canceled. |
| PROCEDURE REFERENCE: |
Procedures that provide specific details with regard to this process are maintained by Investment And Cash Management. |
| RESPONSIBLE ORGANIZATION: |
FMS Cash Control |
