Policy 5402 – University Funds

Revision Date:  11/11/2024
Last Review:  11/11/2024
Responsible Office: Comptroller’s Office

Policy:

Off-Campus Bank Accounts

It is the policy of Louisiana Tech University that no department or unit of the University or University employee shall establish a bank account off-campus for the receipt of University funds. All accounts for University funds shall be established through the Division of Finance.

All funds solicited or received in the name of Louisiana Tech University, or any division thereof, by a department, unit, or employee of the University must be deposited with the Comptroller’s Office.

This policy applies to departments, programs, institutes, camps, and any other University-related entity.

This policy does not apply to student organizations, clubs, or groups which are simply registered with the University.  If these organizations establish a bank account, then they must use the federal identification number for the student organization, club, or group.  The use of the University’s federal identification number is not permitted.

Definitions:

Not Applicable

Procedures:

Not Applicable