Cash Management

30.05         Returned Checks                                                                             Issued: May 15, 1998

1.     Gift Checks

        When a gift check received by the University is returned for insufficient funds by the bank,
        the University reverses the original entry recording the gift and forwards the check to the
        Development Office. The Development Office adjusts its gift records and returns the check
        to the donor.

2.     Payment on University Billing

        When a check received by the University for payment of a University billing (e.g. student
        fees, retiree insurance, etc.), the University reverses the original entry recording the
        payment, assesses a $25 returned check fee, and returns the check to the customer.  

Contact:     Manager of Treasury Services