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The Controller’s Office is responsible for initiating and releasing EFTs on behalf of the University for the movement of funds from University bank accounts. Two separate individuals are required to initiate and release the EFT.  The Controller's Office also has the responsibility to confirm EFT instructions with specific departments and individuals if there is any question as to the validity of the EFT request.

The Business Office is responsible for the administrative process for all purchase requisitions and accounts payable functions.

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Individual departments are responsible for obtaining and submitting the proper support and approvals, including the completed and approved Wire Transfer Request Form, to the Business Office.

The Bursar's Office is responsible for the administrative process for all student account refunds.

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All other University policies governing purchasing and the submission of documents for payment to the Business Office must be followed. All supporting documentation (i.e. invoice, purchase order, or contract), including banking information supplied directly from the vendor, must be attached to the Wire Transfer Request Form, must be properly approved and cannot be circumvented. Please refer to the Procurement & Payment Authorization Policy for examples of proper supporting documentation and approval guidelines.

All other University policies governing student refunds must be followed. The Wire Transfer Request Form must be properly approved by the Bursar’s Office and sent to the Controller’s Office, and cannot be circumvented. Banking information must be supplied directly from the student to the Bursar’s Office and the information must then be included with the Wire Transfer Request Form. Please refer to the Bursar’s Office website for further information regarding student refunds.

The Wire Transfer Request Form should be completed and signed by the Requestor and Approver in accordance with Section 3.0 of the Procurement Approval Authority Policy.  If the wire amount requested is for $15,000 or greater, then the Wire Transfer Request Form must have additional approvals in accordance with Section 5.0 of the Procurement Approval Authority Policy.

Subsequent Review

Question regarding Wire Transfer departments must contact the Controller's Office.

Subsequent Review

 Follow University Controller's Office documented procedures Completed nonrecurring EFTs greater than $15,000 are reviewed and signed by appropriate and authorized individual(s) on a monthly basis.

Cancellations and Modifications

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Any waiver or exception to this policy must be documented through the Controller’s Office and is required to be reviewed and approved by two of the following individuals: President, Senior Vice President for Finance and Administration/Treasurer, and/or Senior Vice President of Academic Affairs and Provost..

Contact Information

Departments should contact the University Controller’s Office for further guidance on EFT payments.

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Violations of this Policy may lead to appropriate disciplinary action, which may include temporary or permanent restrictions on access to certain information up to dismissal from the University.

Revision History

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