Occasionally a check which was previously deposited is returned unpaid by the bank at a later date because of insufficient funds, account closed, improper signature, or other reasons. The Activity Fund Office will notify each campus by email of any returned checks.
- The bookkeeper/secretary shall immediately notify the sponsor and maker of the check requesting that it be redeemed with cash.
- Under no circumstances should the returned check be surrendered to the maker except in return for cash.
- Retain all bank NSF information in school files.
- When a check is returned by the bank, the Activity Fund Office will make the appropriate entry in TEAMS. NSF checks are posted on a monthly basis during the bank reconciliation process.
- A $20.00 fee will be charged to the issuer of the check.
- A re-deposit should be treated as a new deposit.
- The bank may also charge a fee which will be deducted from the activity account originally credited.