5.10-1 COMMUNICATIONS OF FINANCIAL DISCREPANCIES

Bank Account Reconciliations

It is the responsibility of the Administration to provide timely information to the Board of Control which will assist in the exercise of its fiduciary/oversight responsibilities.

The University administration is to reconcile all bank accounts monthly. If comparison of the University General Ledger to bank cash balance differs by $10,000 at any time within a fiscal year, the Administration must communicate this factor to the Finance and Audit Committee at its next meeting.

Adopted 3/12/91 VP-ABA