Effective Date: September 29, 2008
Latest Revision: May 8, 2014
This policy sets certain requirements for opening, closing, updating, and maintaining Columbia University bank accounts. For purposes of this policy, "University bank accounts" mean any bank account opened (1) by or for the University or any of its schools, departments, centers, institutes, or programs, (2) by or for any entity in which the University has a controlling interest (such as limited liability companies that may be established for overseas activities in accordance with separate University policies), or (3) with use of the University's tax identification number.
Reasons for the Policy
The purpose of this policy is to establish adequate control procedures over University assets and minimize the University's risk of financial loss.
Responsible University Office
The Office of the Treasurer
Who is Governed by this Policy
Each individual, school, department, center, institute, and program ("University Departments") that require and utilize University bank accounts should review and understand this policy.
See full policy text at right