1.7.2 Receipt and Deposit of University Funds
1.2. The cashing of personal checks by utilizing accumulated university cash receipts is definitely prohibited; also, the lapping of funds (delay of deposit of receipts) by substitution of employee's I.O.U.'s or post-dated checks is absolutely forbidden.
1.3. Designation of Wayne State University as General Payee - All checks drawn for the credit of Wayne State University must be made payable to Wayne State University. On occasion, checks intended for the account of the university are inadvertently made payable to a specific WSU individual or WSU organization. Such payees should promptly endorse the check to be payable to the university.
1.4. On receipt of a check at a decentralized location, a restrictive endorsement "For Deposit Only, Wayne State University" should be stamped on the check immediately. The department?s FOAPAL should also be included on the check.