Research and Special Purpose Accounts

1. If a Research or Special Purpose Account needs to go into an overdraft while waiting for an anticipated grant, arrangements should be made with the Director, Financial and Accounting Services, and/or his/her designate.
2. If a Research or Special Purpose Account goes into an overdraft without arrangements having been made, Financial & Accounting Services will send a notice to the account-holder specifying the amount of overdraft and requesting an explanation of how the overdraft will be covered. This will normally happen at the end of the month.
3. If, by the end of the following month, the account is still in an overdraft and the Director has not received any communication from the account-holder, the amount of the overdraft will be charged to the individual’s personal account.
4. Financial & Accounting Services will be authorized to deduct a maximum of $100 per month [from salary] for any account balance that is overdue by greater than 3 months; the total balance in the personal account will be deducted from the final salary of an individual in the case where there is a termination of employment.
5. The above would be enforceable for all accounts with account authorization forms signed.
   Because of the volume of BURC Grants, rather than have all researchers sign a separate account authorization form, the authorization could be a condition of acceptance of the grant.

Approved by the Board of Governors
October 24, 1985
(updated for current nomenclature)
** Please refer to the “Sundry Account Policy” in this section.