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Business and Financial Policies and Procedures

2.3 Request Approval for an Agency Fund

Policy Statement

Your campus OBFS executive officer and University Accounting and Financial Reporting (UAFR) must approve establishing an agency relationship before receiving the deposits of money owned by others and held by the University as an agent.

Acquaint yourself with the information in 2.1 Policies for Managing Type 9D Agency Funds.

As a non-University unit, the owner is not entitled to the privileges of University units.

Procedure

To request approval for an agency fund:

  1. Confirm that the activity qualifies as an agency fund by consulting 2.2 Determine the Need for an Agency Fund.
  2. Obtain your unit head’s approval to proceed with the request for an agency fund.
  3. Review agency fund limitations and owner responsibilities with the owner of the money (or a responsible member of the owning entity) as outlined in the Agency Fund Agreement of the Banner Fund, Program, Index Code Request form.
  4. Obtain the owner’s signature on the Agency Fund Agreement of the Banner Fund, Program, Index Code Request form.
  5. Verify that your unit is approved as a cash handling unit. If not, complete the steps in 10 Obtain Approval as a Cash Handling Unit.
  6. Complete the Banner Fund, Program, Index Code Request form. Be sure to provide all the requested information on the three agency tabs:
      • FPI Code Request
      • Agency Fund Supplemental Info
      • Agency Fund Agreement
    UAFR will not process incomplete forms.
  7. Send the completed form to UAFR.
  8. If the request is approved, UAFR establishes a fund code in Banner and notifies you.

Banner Fund, Program, Index Code Request

1.3.2 Initiation, Review, and Approval of University Contracts and Leases
10 Obtain Approval as a Cash Handling Unit
2.2 Determine the Need for an Agency Fund

2.1 Policies for Managing Type 9D Agency Funds

Last Updated: December 19, 2014 | Approved: Senior Associate Vice President for Business and Finance | Effective: December 2014

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