Section 800: Financial Affairs

Effective: October 1, 2007
Revised: April 2016
Last Review: August 2023
Next Review: August 2025
Responsible Party: Controller

Policy:

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.

Procedures:

  • All checks (warrants) will be issued by the State Treasury through the Accounts Payable System at MSU-Northern unless noted below.
  • There is a discount requiring immediate payment.
  • Emergency advances.
  • Payments to the Postal Service that require immediate payment (e.g., Bulk Mailings).
  • Short Term Loans to students are considered to be Emergency Loans and, therefore, appropriate use of the Contingent Revolving Fund.

If any of these situations apply, please route proper paperwork to Business Services.

References:

§§17-6-101 to 105, 17-2-201, MCA; and
Montana Operations Manual, Volume II, Chapter 1900