||Business and Support Operations
||Financial Transactions: Checks - Cashing, and in Payment
||Date of Present Issue:
||Date of Previous Issues:
03/86, 07/72, 07/73, 03/74, 03/75, 02/79, 09/82, 12/95, 06/00
The University will cash checks, or accept checks for payments on account, in accordance with the following procedures:
CASHING OF CHECKS
|Will cash checks
||1. Student Service Center in the Fletcher Center and Norris Center Ticket Office.
|Will accept checks from
||2. Students, faculty and staff, who present either personal or other checks for which the person presenting the check is the payee. Any exceptions to check-cashing procedures must be approved by the Controller or Vice President for Finance.
|Amount of check
3. The maximum amount cashable is:
Student Service Center $200
Norris (faculty/staff only) $20
Third party checks over $150 will not be cashed.
|Person presenting the check
||4. Makes the check payable to "LSSU Cash" and endorses the check upon its presentation for payment (as above).
CHECKS IN PAYMENT FOR GOODS OR SERVICES
||1. Makes check payable to Lake Superior State University, if paying on account or making a purchase.
2. If payment is made or cash is requested with a check drawn by a third party naming a student, faculty or staff as payee, it shall be processed as in (3) below.
||3. If the check is drawn for more than the payment on account, purchase, deposit, etc., and payable to Lake Superior State University, it will be marked for deposit only.
- The payee or endorser will write on the back of the check:
- amount of cash to be given back;
- student ID number, if payee or endorser is a student;
- If payment is made with more than one check, all will be marked for deposit only on the back.