Replenishing a Bank Account
Learn the steps involved in replenishing, reviewing and reconciling a University bank account.
Requesting Funds for Columbia Accounts
- Download the Funds Transfer Request Form
- Confirm the Bank Account Information
- Include the necessary bank information for the account that is to be funded.
- Determine the Funds to be Requested
- Add the next three months of budgeted expenses.
- Subtract the funds currently on hand in-country, in both the local currency and USD accounts.
- Confirm Local Accounts are being Reconciled in a Timely Fashion
- You will need the most recent bank reconciliations at the project level (you do not need to include bank statements).
- All incurred expenses must have been released to Audit & Review within 90 days for final approval.
- Send the Order to [email protected]
Bank accounts must be reviewed and reconciled monthly by the appointed representatives within each department/school/center. There are two types of reconciliations required for each account:
- The expenditure activity must be reconciled in ARC and
- The ending bank balance on the bank statement must be reconciled to the bank balance in ARC.
The completed bank reconciliations must be submitted monthly to the appropriate central business office (the Controller’s Office for non-CUIMC accounts and the CUIMC Administration Office for CUIMC accounts) for review within the required timeframe. All Morningside reconciliations need to be submitted monthly to the Controller's Office Cash Team.
Refer to the Posting to a Foreign Currency Bank Account job aid for additional details.
For more information on proper bank reconciliation procedures and the submission timeline, please refer to the page – Learn about Bank Account Reconciliations, in Accounting Operations.
Request to Transfer Bank Funds
Please download, complete, print and obtain the required accompanying documentation and signatures on the International Bank Account Funding Request to request funds' transfers for Columbia bank accounts.
Learn about Managing a Foreign Account in ARC
To learn more about the business processes for managing a foreign currency bank account in the ARC system, refer to the job aid: Posting to a Foreign Currency Bank Account.