Procedure: Monthly Bank Reconciliation for all Bank accounts

The Senior Account performs the following monthly procedures:

1. Closes the month on the fiscal system and obtains a Balance Sheet;

2. Reviews weekly/monthly bank statements to ensure all credit entries have been receipted by the university;

3. Clears, through the finance system, all checks shown on the bank statements to determine the dollar amount of outstanding checks for the month and runs an outstanding check list and cleared check list at the end of each month;

4. Completes a reconciliation form;

5. Investigates and resolves any unreconciled differences; and

6. Submits reconciliation to independent individual.

Approved by: Policy Committee
Date: February 7, 2000