Share This Page
Signature Authority for Depository and Investment Accounts
Revised: 10/05
FSS/PPS No. 03.01.02
Issue No. 2
Reviewer: Associate Vice President, Financial Services/Treasurer
Effective Date: 11/15/00 (E5Y)
Review Date: 11/10
01. PURPOSE
| 01.01 | The purpose of this policy is to establish procedures for opening depository and investment accounts in the name of Texas State University-San Marcos and policies for signature authority therefrom. |
| 01.02 | This policy applies to accounts at commercial banking institutions, money-market types of accounts (such as TexPool), and investment accounts (such as the CommonFund). |
02. POLICY
| 02.01 | The Texas State University System Policy and Procedures for the Control of Depository Funds provides the overall guidance for maintaining depository accounts. |
| 02.02 | The Texas State University System Investment Policies provide the overall guidance for maintaining investment accounts. |
| 02.03 | Accounts may be opened in the name of Texas State University-San Marcos only with written approval of the Vice President for Finance and Support Services and the Associate Vice President for Financial Services/Treasurer. |
| 02.04 | All of the positions named in 02.03 and the Director of Accounting, individually, are authorized to rename and/or close accounts and/or to delete persons having signature authority. |
03. SIGNATURE AUTHORITY
| 03.01 | Regular employees of Texas State University-San Marcos are the only persons who may have signature authority over university depository and/or investment accounts. | ||||||
| 03.02 | Signature authority (as evidenced by signature cards) may be established for regular employees only with the written approval of at least one of the following: Vice President for Finance and Support Services, Associate Vice President for Financial Services/Treasurer, or the Director of Accounting. | ||||||
| 03.03 | Check-Signing Limits are established by the TSUS Regents Rules and Regulations, Chapter III, Section 6.6. | ||||||
| 03.04 | Check-Signing Authority - Positions at Texas State University-San Marcos which are authorized to sign checks include: Vice President for Finance and Support Services, Associate Vice President for Financial Services/Treasurer, Director of Accounting, and Assistant Director of Accounting (Accounts Payable). The Assistant Director of Accounting (Cashiering and Loan Collections) may sign checks for club accounts. | ||||||
| 03.05 | Repetitive Wire Transactions - Positions which are authorized to perform repetitive wires, in the normal course and scope of their job duties include:
| ||||||
| 03.06 | Non-Repetitive Wire Transactions - Positions which are authorized to perform non-repetitive wires include the Vice President for Finance and Support Services and the Associate Vice President for Financial Services/Treasurer. Non-repetitive wire transactions require security measures which include, but are not limited to:
|
04. FORMS
| 04.01 | Forms which should be utilized in association with this FSS/PPS include only those forms required by banks and/or other financial institutions. |
05. MAJOR RESPONSIBILITIES ASSOCIATED WITH THIS PPS
| Major responsibilities for routine assignments associated with this PPS include the following:
|
06. CERTIFICATION OF STATEMENT
This FSS/PPS has been approved by the following individuals in their official capacities, and represents FSS policy and procedure from the date of this document until superseded.
Associate Vice President, Financial Services/Treasurer, Reviewer
Director, Accounting, Reviewer
Vice President for Finance and Support Services
| Approved: | ____________________________ Reviewer |
| Approved: | ____________________________ Reviewer |
| Approved: | ____________________________ Vice President for Finance and Support Services |