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4.1.040 Deposit of University Funds

University of Central Missouri Policy

Policy Name:  Deposit of University Funds

Date Approved:  Depository Selection Policy was approved by the Board of Regents on October 17, 1979 on Approved by the Board of Regents on December 5, 1990
Approved by the Board of Governors on April 18, 2001
Formatting updated August 1, 2007

Policy Category:  Finance and Administration

Date Effective:  

Policy Number:  4.1.040  

Date Last Revised:  

Approval Authority:  Board of Governors

Review Cycle:

Responsible Department


I. Purpose

The University of Central Missouri recognizes its fiduciary responsibility to the students, faculty and staff of the university, as well as the citizens of Missouri. Central Missouri’s Board of Governors establishes the following policy to ensure that university funds are managed appropriately.

II. Policy

A. The University of Central Missouri complies with applicable sections of Chapter 110, RSMo, regarding depositing public funds with private financial institutions.

B. The Board of Governors requires the treasurer of the Board of Governors to create and implement procedures which are in accordance with Chapter 110, RSMo, and to report to the Board of Governors each time established procedures are modified.

C. The Board of Governors authorizes the treasurer of the Board of Governors to determine the amounts to be deposited and to approve such deposits in accordance with state and federal law.


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