804.15 Contingent Revolving Fund Checks
Effective: October 1, 2007
Revised: October 1, 2007, November 2012
Review Date: October 1, 2009, November 2014
Responsible Party: Director of Business Services
Montana State University-Northern is authorized by the Montana State Department of Administration to maintain a local checking account to be used to make disbursements where timing is a factor. The Contingent Revolving account is to be used only for purposes demanding immediate payments.
Montana State University-Northern has established the following procedures which are consistent with State guidelines. Abuse of guidelines could result in cancellation or reduction of the account by the Department of Administration.
- All checks (warrants) will be issued by the State Treasury unless there is a discount requiring immediate payment, or as noted below.
- All payment to individuals for services rendered to the University will be made by check from State Warrant unless advance approval of the Director of Business Services.
- All reimbursements for expenses should be issued by the State treasury through the Accounts Payable System at MSU-Northern. Exception: Person was required to make payment and a delay of reimbursement would cause a hardship.
- Travel advances should be requested 10 days in advance for all scheduled events. Exception: Emergency advances require approval of the Director of Business Services.
- Short Term Loans to students are considered to be Emergency Loans and, therefore, appropriate use of the Contingent Revolving Fund.
Montana Codes Annotated Sections 17-6-101 to 105, 17-2-201; and
Montana Operations Manual, Volume II, Chapter 1900.