To define allowable activities with financial institutions.

All Vancouver Community College employees.

1. Bank accounts may only be opened under the authority of the Vice President Finance and the Director Financial Services.
2. Bank accounts may be only opened in the name of Vancouver Community College.
3. Changes to the main banking provider or services provided must be approved by the Board.
4. All College funds, except petty cash funds, should be deposited on a daily basis to a Vancouver Community Colleges account.
5.  
6. All cheques should be signed by two officers as defined in the attached officer listing.
7. Cheques may not be drawn on deposit accounts, except to do regular fund transfers to the main Bank account.

A list of all accounts and signing authorities should be maintained by the Vice President Finance’s office.

Replaced:
Banking Policy #3.1.0.2
Banking and Cheque Signing, Policy #3.1.0.1