University Financial Policies
Deposit and Control of University Monies
All cash received for University purposes must be deposited with the University Cashiers.
No bank account which in any way purports to be, or appears to be, associated with VCU, or holds University or State funds, shall be established or maintained without the prior authorization of Treasury Services. This authorization includes bank accounts affecting any University funds. All University bank accounts are reconciled by the University Controller’s Office.
All University funds must be placed in a bank account that clearly carries the name "Virginia Commonwealth University" in the account title.
A VCU bank account may be used only for legitimate and allowable University related revenue and/or expenses.
Student, faculty and staff organizations are prohibited from establishing or maintaining bank accounts using the name "Virginia Commonwealth University" or "VCU" in the account title, except as provided for in the above sections.
Student, faculty and staff organizations cannot use the University's taxpayer identification number in the establishment or maintenance of any bank account. This restriction applies to contracted independent organizations, fraternal organizations and student, faculty or staff organizations operating without either type of agreement.
Please see Treasury Services for complete policy.