| Account Name | Bank Account # | Banner GL | Type |
|---|
| Bank 29 - State Capital Projects | State | 110029 | State |
Access Controls
Responsible position(s):
CFO, Controller
Required documents and access:
Online administrator access to bank accounts
Frequency and timing:
As needed to add or delete user access
Steps:
Determine which positions need inquiry and transactional access.
Establish dual approvals within the banking platform for all transaction activity including EFT, wire transfer or inter-account transfers.
Assign roles to users in accordance with their responsibilities.
Review and updates access periodically, at least annually, to ensure user roles are still appropriate for their positions, and user access is inactivated in a timely manner.
Bank deposits are addressed in the Cash Receipts section (procedures for recording incoming wires and ACH's should also be processed through cashiering, not JVs in accounting).
Cash disbursements are addressed in the Accounts Payable and Cash Disbursements section (procedures for recording outgoing wires and EFTs should also be processed through AP, not JV in accounting).
Bank Account Analysis
Responsible position(s):
Controller
Required documents and access:
Bank analysis statements
Industry standards
Frequency and timing:
Annually
Steps:
Review the analysis statements to ensure that bank service fees or earnings credits are reasonable and cost effective.