Procedure 2-1

Establishing Operation Accounts

Responsible Officer: Vice President for Business Affairs and Controller

Sponsoring Department: Accounting Services

Revision Date: 03 November 2004

Errors or changes to:

  1. Operating accounts are established to maintain control of specific funds. To open an account, an Request for New Cost Center (Form 2-1), should be completed and sent to the Assistant Vice President for Business Affairs, Accounting Services for approval. Upon approval, the administrator of the account will be notified by *TXMAIL of the new account number. Questions concerning the use of the form should be directed to the Office of Accounting Services.

  2. Maintaining Operating Accounts

    If any of the following change after an account has been opened, please complete and forward an updated Account Profile form to the Accounting Services Office:

    • Purpose

    • Source of Income

    • Expenditure Restrictions

    • Signature Authority

  3. Closing Operating Accounts

    If an account is to be closed, the account administrator should forward a written (email is acceptable) request to the Office of Accounting Services. The balance of the account must be zero before it can be inactivated.