Bank Accounts

Purpose
To provide guidance relative to external bank accounts.

Policy
The State of North Carolina requires that all University funds be on deposit with the State Treasurer. The only exception to this is relative to endowment and debt service funds. Therefore, all gifts and receipts collected on behalf of the University must be deposited with the University Treasurer.
Student organizations not supported from Student Fees and departmental organizations are not required to deposit their funds with the University. Their funds are not classified as University funds and accordingly are managed at the discretion of the organization. Therefore, the organizations should have their individual bank accounts.

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