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Business and Financial Policies and Procedures

14.3 Manage University Extension Bank Accounts

Policy Statement

University of Illinois Extension Councils are required by state law (Cooperative Extension County Law, Revised 1967) to deposit all funds received for the regular operation of the Extension office to the County Extension Trust Account of the University. The Board of Trustees has authorized University Extension to open and administer bank accounts for local activities. The Extension Director authorizes the opening of bank accounts to administer local activities. The accounts are operated within the guidelines of the Extension Office Manual.

Extension Office bank accounts are subject to audit at any time by the Office of University Audits.


To manage University Extension bank accounts, the Extension Director:

  1. Ensures that bank accounts are properly maintained and used.
  2. Determines and publishes rules and procedures for the advancement, use, and safety of these funds.
  3. Submits a report to the Urbana Assistant Vice President for Business and Finance at the end of each fiscal year. The report lists the location of all University Extension bank accounts and reports on the opening and closing of accounts during that time.

Additional Resources

Cooperative Extension County Law, Revised 1967

Last Updated: March 17, 2011 | Approved: Senior Associate Vice President for Business and Finance | Effective: November 2010

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