Section: GENERAL ACCOUNTING
|Section 3000 Policies|
Policy Number: 3102.09
Policy Title: Bank Reconciliations
Policy Effective Date: April 1, 2011
Last Revision Date: July 1, 2011
(see revision history)
It is the policy of the CSU that all bank and centralized CSU Bank statements be regularly reconciled to campus books. Each campus must prepare written procedures to implement this policy.
Campus bank accounts are reconciled at least monthly. Reconciliations must be in sufficient detail to determine components of outstanding reconciling items.
Reconciling items are cleared monthly when practical. Exceptions to monthly clearing must include justification and be reviewed and approved by a supervisor.
Reconciliations are performed by independent parties, without vested interests in the original transaction(s).
Reconciliation records must be retained per campus fiscal records retention policy.
Benjamin F. Quillian
Executive Vice-Chancellor/Chief Financial Officer
Approved: February 4, 2011
APPLICABILITY AND AREAS OF RESPONSIBILITY
- April 1, 2011 (Initial Issuance Date)
RESOURCES AND REFERENCE MATERIALS
Sound Business Practices:
Laws, State Codes, Regulations and Mandates:
COGNIZANT OFFICE(S)CO Manager:
Mr. Robert Eaton
Senior Director, Financing and Treasury
CSU Office of the Chancellor
Ms. Gay Kvilhaug
Ms. Maribeth Bradberry
Ms. Nancy Suarez
Director, Student Financial Services
Ms. Jan Burnham
Student Financial Services
Ms. Gina Curry
Director & University Bursar
Ms. Cora Wong
Director, Student Financial Operations
Ms. Caryl Vickers-Harper
Assistant Director & University Cashier