40.30.26 Negative Cash Balances
If a fund experiences a negative cash balance at month end, that fund is to be charged interest expense using account 5110060.
Colleges must determine a “significance” level and then charge or credit interest to funds only with significant positive or negative cash balances. Funds with positive cash balances should receive the interest income.
Bank Interest & Charges
|Fund||Class||Dept||Method||Acct DR||Acct CR||Amount ($)|
Last Modified: 6/5/23, 2:01 PM