Wire Transfer Policy
Occasionally, money must be transferred from one department to another or from one department to a party outside the college.
This policy informs employees of the requirements to authorize a wire transfer.
All wire transfers shall be governed by the following:
- For transfers from one Davidson College account to another Davidson College account: The Controller/Director of Business Services, Associate Controller, Assistant Controller, the Vice President for Finance and Administration, or the President can authorize a wire transfer for any amount.
- For transfers from a Davidson College account to an outside party:
- For transfers to college investment managers, for college bond payments, for direct deposit of payroll, payroll taxes and other payroll-related deductions, signed approvals from two of the following are required: The Controller/Director of Business Services, Associate Controller, Assistant Controller, the Vice President for Finance and Administration, the President, and the Chief Investment Officer or Investment Analyst of the Investments Office.
- For all other transfers, including purchase of real estate, these transfers are subject to the policies and dollar limits required in items 1 through 3 of the college's Check Signing Policy.
Administration of Policy
The Controller/Director of Business Services shall oversee this policy and review it at least once every two years. Changes to this policy shall be made in accordance with the college's Policy on Policies.