FSS/PPS 03.02 - Signature Authority for Depository and Investment Accounts
Signature Authority for Depository and Investment Accounts
FSS/PPS No. 03.02 (03.01.02)
Issue No. 4
Effective Date: 1/06/2016
Next Review Date: 11/01/2021 (E5Y)
Sr. Reviewer: Treasurer
The purpose of this policy is to define policies and procedures for depository and investment accounts in the name of Texas State University.
This policy applies to accounts at commercial banking institutions and investment accounts.
The Texas State University System Depository Funds Policy provides the overall guidance for maintaining depository accounts.
The Texas State University System Investment Policy for Operating and Endowment funds provide the overall guidance for maintaining investment accounts.
Accounts may be opened, closed, or renamed in the name of Texas State University with written approval of the Vice President for Finance and Support Services.
Only regular employees of Texas State University may have signature authority over university depository and/or investment accounts.
Signature authority (as evidenced by signature cards) for depository accounts may be established for regular employees only with the authorization of the Vice President for Finance and Support Services. This authority is to add and/or delete authorized individuals.
Signature authority for investment accounts must be requested through the University President to the Chairman of the Texas State University System Board of Regents. A corporate resolution authorizing the signature must be signed by the Chairman and the Secretary of the Board of Regents.
Investment Account Signature Authority - Positions at Texas State University which are authorized to conduct investment transactions include: Vice President for Finance and Support Services and Treasurer.
Check-Signing Limits are established by the TSUS Regents Rules and Regulations, Chapter III, Section 6.6.
Check-Signing Authority - Positions at Texas State University which are authorized to sign checks include: Vice President for Finance and Support Services, Associate Vice President for Financial Services, Treasurer, Director of Accounting, and Assistant Director of Accounting (Financial Reporting and Analysis).
REVIEWERS OF THIS PPS
Reviewers of this PPS include the following:
Positions Date Treasurer November 1 E5Y
This PPS has been approved by the following individuals in their official capacities and represents Texas State Finance and Support Services policy and procedure from the date of this document until superseded.
Treasurer; senior reviewer of this PPS
Vice President for Finance and Support Services