Fayetteville Policies and Procedures  304.0

Bank Account and Other Financial Institution Signature Authorization Policy

The University of Arkansas, Fayetteville, has designated individuals holding the following positions to sign on the indicated accounts at the banks and other financial institutions denoted in the policy. These are established accounts that have been opened in accordance with University Board Policy.

Board Policy 305.1 states, “The President or Chief Fiscal Officer of the University of Arkansas is authorized to open the necessary bank accounts, signify appropriate signatures … where required.”

The employees given signature authority are designated to make withdrawals and deposits (depending on the type of account which is indicated below), to facilitate payments to third parties that have been properly authorized under University procedures, to initiate transfers to another bank or other financial institution to the credit of the University of Arkansas, Fayetteville at that institution, and to give such instructions otherwise necessary for the normal and ordinary operation of the account.

Bank Accounts Allowing Deposits and Withdrawals

Institution Account Name Signature Authority
Bank of Arkansas/BOK Federal Funds Deposit VCFA, AVCF, Investment Manager
Bank of Arkansas/BOK Payroll Checking VCFA, AVCF, Investment Manager
Bank of Arkansas/BOK Vendor Checking VCFA, AVCF, Investment Manager
Bank of Arkansas/BOK Student Refund VCFA, AVCF, Investment Manager
Bank of Arkansas/BOK Student Org Checking VCFA, AVCF, Investment Manager
Bank of America Safe Deposit Box*
*2 signatures req.
VCFA, AVCF, Investment Manager
Bank of America
Livestock & Forestry
Deposit VCFA, AVCF, Investment Manager
Bank of America
RRCEC
Deposit VCFA, AVCF, Investment Manager
American State Bank
NE Research
Deposit VCFA, AVCF, Investment Manager
Arkansas National Bank
Lake Wedington
Deposit VCFA, AVCF, Investment Manager
Arvest Deposit VCFA, AVCF, Investment Manager
BancorpSouth
SEC Deposit
Deposit VCFA, AVCF, Investment Manager
BancorpSouth
Rice Branch
Deposit VCFA, AVCF, Investment Manager
Citizens B&T
Vegetable Substation
Deposit VCFA, AVCF, Investment Manager
First Security Bank Federal Funds Deposit VCFA, AVCF, Investment Manager
First National BEA
Cotton Branch
Deposit VCFA, AVCF, Investment Manager
Malvern National Bank
Garvan Woodland Gardens
Deposit VCFA, AVCF, Investment Manager
McGehee Bank
Southeast Branch
Deposit VCFA, AVCF, Investment Manager
Union Planters Bank
Pine Tree Station
Deposit VCFA, AVCF, Investment Manager
Federal Reserve Bank Collateralization VCFA, AVCF, Investment Manager

Bond Debt Service Trustee Accounts

Institution Account Name Signature Authority
Simmons Dormitory 4/1/66-36 VCFA, AVCF, Investment Manager
Simmons Refunding 96-57 VCFA, AVCF, Investment Manager
Simmons Various Facilities 01-60 VCFA, AVCF, Investment Manager
Simmons Various Facilities 02-62 VCFA, AVCF, Investment Manager
Regions Bank Athletic Facility 56 VCFA, AVCF, Investment Manager
Regions Bank Razorback Stadium 59 VCFA, AVCF, Investment Manager
Regions Bank Athletic Facility 01-61 VCFA, AVCF, Investment Manager

Investment Accounts

Institution Account Name Signature Authority
A.G. Edwards Unit Trust VCFA, AVCF, Investment Manager
The CommonFund Short Term VCFA, AVCF, Investment Manager
Bank of New York Various Pools System VPFA
Bank of America Special Investment Pool VCFA, AVCF, Investment Manager

Reformatted for Web March 31, 2014
Revised May, 2004
Revised July, 2002
Revised September, 1997
September 6, 1996