BANK RECONCILIATION PROCESS JUNE 2019
To be completed biannually and due to Operations by June 14th. Please email the JUNE Bank Reconciliation Form and the MAY 2019 bank statement to firstname.lastname@example.org along with any supporting documentation and fill out the form below. Click this link: Bank Reconciliation Form -or the form can be found on the Operations webpage on the Extension Finance TAB on the OSU Extension Forms page:
Extension policy requires that bank balances must be less than $20,000 annually. If the current adjusted balance AND the average amount per month is greater than $20,000, please choose one of the following options:
1) Deposit money into your University Misc fund (06XXXX). Please do NOT deposit into a Development Fund as the money does not appear on the eReports until 180 days later- much too late to show proof of deposit by the end of June when we need to report our local checking account balances to the University Treasurer's Office. Then send a copy of the eReport that shows the deposit or a copy of the transfer form to email@example.com along with your May bank statement and June Bank Reconciliation Form and fill out the form below.
2) Request a one-year exception to the policy, which will be reviewed to determine if your request is appropriate and essential for Extension business. Please provide a letter and documentation supporting such an exception with your MAY bank statement, JUNE Bank Reconciliation Form and fill out the form below. If you have already received an exception approval, return a copy of that authorization letter with your MAY bank statement, JUNE Bank Reconciliation Form and fill out the form below.
IF the checking account balance currently exceeds an average monthly balance $20k, please send a check to deposit to your Miscellaneous Designated Fund (060xxx-061xxx). Send a check with the Extension Deposit Transmittal Form to Dawnn Brown (address on the form). Deposit using account 41225 and description "Reduce local checking account balance".