| VOLUME: IV |
POLICIES RELATED TO PAYROLL ADMINISTRATION |
| SUBJECT: |
Stop Payment and Reissue of University Payroll Checks |
| SOURCE: |
Financial Management Services, Office of the Treasurer |
| DATE ISSUED: |
December 1990; Revised July 2007 |
| POLICY NO. |
IV - 30 |
| RATIONALE: |
To establish a procedure allowing the immediate reissue of payroll checks which are lost, stolen, or mutilated. |
| POLICY: |
University payroll checks which are lost, stolen or mutilated will be replaced when authorized by the applicable campus payroll office. The payroll office on each campus will also have authority to determine if and when payroll checks will be immediately reissued.
In general, if an employee is expected to continue employment, and there is no expectation that the university will incur a financial loss by immediate reissue, a duplicate check can be immediately written after notification is received from cash control that the stop payment order has been placed with the bank.
All payroll check related inquiries should be directed to the campus payroll office.
|
| DEFINITIONS: |
Outstanding Check: A check issued by the university that has not been cashed or canceled.
Stop Payment Order: A directive given by the university to the bank on which a particular check is written, that calls for the bank not to honor the check when it is presented for payment. |
| PROCEDURE REFERENCE: |
An online Request for Stop Payment and Reissue of Indiana University Check form for the affected employee must be filed by the campus payroll office. The webform is located at:
http://www.fms.indiana.edu/cashcontrol/StopReissueForm.asp
Cash control will then authorize the Financial Management Services central payroll office to reissue a check, which will be forwarded to the originating campus.
Cash control will place all stop payment orders that are requested by university departments, and will notify campus payroll offices in the event that a duplicate payment has occurred as the result of a check reissue. Stop payment requests received prior to the close of bank business operations (typically 3 p.m.) will be processed on the day the request is received
The campus payroll office or FMS central payroll should be contacted regarding all direct deposits that are deposited into the wrong account. FMS central payroll will handle each deposit error on a case by case basis.
|
| CROSS REFERENCE: |
See Accounting Administration Policies:
I-541, Stop Payment and Reissuance of University Payroll Checks
I-550, Check Forgery of University Checks. |
| RESPONSIBLE ORGANIZATION: |
Financial Management Services |
