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Establishment and Approval of Bank Accounts

Directive Statement

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.

Overview

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.

Last Reviewed

05/01/2020: reviewed content

Contacts

University Controller’s Office: (352) 392-1321

Treasury Management: (352) 392-9057