Previous Topics
USM INTERNAL AUDIT ISSUE
Management Advisory Services was recently advised that the USM Office of Internal Audit (IA) will review bank accounts which may have been established in the name of the University without the typical University protocols. IA will be contacting area banks to conduct this review. In anticipation of this review, we request that you inquire of those units reporting to you if they have established any external bank accounts for conducting University business. Examples of such uses may include making direct payments related to contract and grant administration, petty cash disbursements, or periodic personnel payments.
State law requires all bank accounts in use at the University to be approved by the State Treasurer. Since such accounts should be established only under limited circumstances, please direct all requests for banking services to Tom Vogler, Assistant Vice President for Financial Services. If you or someone in your area has established such an account, please contact Tom Vogler at x51720 or Jean Bunche, Bursar, at x53651 to be sure that the account meets the requirements of the State.
Go back to CURRENT TOPICS
Go back to PREVIOUS TOPICS