30.05 Returned Checks Issued: May 15, 1998
1. Gift Checks
When a gift check received by the University is returned for insufficient funds by the bank,
the University reverses the original entry recording the gift and forwards the check to the
Development Office. The Development Office adjusts its gift records and returns the check
to the donor.
2. Payment on University Billing
When a check received by the University for payment of a University billing (e.g. student
fees, retiree insurance, etc.), the University reverses the original entry recording the
payment, assesses a $25 returned check fee, and returns the check to the customer.
Contact: Manager of Treasury Services
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