PURPOSE: To establish guidelines for Trident Technical College's bank withdrawals.
Money may be drawn from the College’s bank via the following methods:
- Paper Checks
Standard Accounts Payable (AP) and Student Refund (AR) checks will be created using a system generated number on blank check stock. Manual AP, manual AR, and all Payroll checks will be created using pre-numbered check stock. All checks will require two of the following three signatures: that of the President, the Vice President of Finance and Administration, and the Director of Finance.
- E-Checks/Direct Deposits
All E-Check/Direct Deposit batches will require two persons to complete, one person to setup the batch on the bank’s portal to be processed and the other to approve it. Those persons will be designated by the Director of Finance.
- ACH/Corporate Trade Debits
Debits of this kind will not process through the College’s bank account without an authorization first setup on the bank’s portal by the Director of Finance or his/her designee. In addition, any outside party’s documentation used to setup such debits will require the signature of the Vice President of Finance and Administration.
The President will implement additional administrative controls if deemed desirable.