Establishment and Approval of Bank Accounts
This directive establishes the requirements for establishing a University bank account.
Reason for Directive
All depository accounts using the University’s tax ID number of the name “University of Florida” are established by the University Controller. All bank accounts must reside within banks approved by the Board of Trustees as public depositories.
Who Must Comply?
All University departments. Direct Support Organizations (DSOs) are excluded from these provisions.
Departments needing information about bank accounts at the University should contact Treasury Management. No department should open, or attempt to open, a bank account.
Annually, the University Controller’s Office conducts bank account verifications to ensure no accounts have been opened using the name or Tax ID of the University of Florida.
01/31/2021: reviewed content
University Controller’s Office: (352) 392-1321
Treasury Management: (352) 392-9057