Policies and Procedures
Procedure 302.2 - Restrictively Endorsing Checks for Deposit
Responsible University Officer
Check items received by the University must be endorsed with the following restriction either in writing or by stamp:
- For Deposit Only
- To the Account of
- The University of North Carolina at Chapel Hill
Check items must be endorsed by the payee in order for the bank to transfer funds from the payor. The restrictive endorsement directs the bank to only deposit the funds to the University's bank account. If the payor makes a check to the University payable to an individual, the individual must endorse the check and then add the above restrictive endorsement.
This step is an important internal control and helps safeguard assets, which in this case are check items belonging to the University.
Forms / Instructions