Banking, Cash Receipts and Disbursements






College Finance


(541) 463-5108

Primary Contact

Maria Montes

Contact Email

Responsible Executive Authority



The purpose of this procedure is to designate the Controller as the custodian of funds for the Lane Community College District, and to describe the responsibilities of the custodian. Chapter 341.703 of the Oregon Revised Statutes requires that "The board of a community college district shall designate a custodian of funds of the district."


The Controller is designated by the board of education as the custodian of the college's funds (Oregon Revised Statutes 341.703).

Only departments (or organizational units) and staff approved by the Controller (or designee) shall be empowered to receive money and/or effect "cash" transactions (including, but not limited to, registration tuition and fees, books, supplies, and any other payments to the college).

All automatic teller machines (ATMs), college checking, savings, investments, credit cards, and any other accounts and agreements with financial institutions are under the supervision and stewardship of the Controller (or designee). Only the Controller (or designee) is empowered to open checking, savings, investment, credit card, and any other type of accounts with a financial institution.

All "cash" (coin, currency, check, money order, credit card payment, electronic transfers and payments, etc.) receiving, receipting, recording, safeguarding, depositing, and disbursing thereof, etc., are under the supervision and stewardship of the Controller (or designee).

All fiscal systems and procedures involving "cash" shall be designed, implemented and maintained under the stewardship of the Controller.

Date Adopted

Saturday, May 1, 1999

Date Last Reviewed

Monday, August 31, 2015