Picking Up LPCs

Using LPCs

Accountability and Security for LPCs

Each LPC is tied to a specific Banner Index.  The Responsible Party over the designated Index is responsible for all expenditures made with LPCs tied to their Index.  The Responsible Party, and any individual designated by the Responsible Party to be responsible for LPCs, is called a check custodian.

The check custodian may give a single check for immediate use to another individual.  The recipient should promptly return the check copies and original receipt to the custodian.  Every custodian must thoroughly review the User’s Guide.  The custodian is responsible to verify that checks given to other individuals are used according to University policy and procedures.  Accountability begins when the custodian receives the checks and ends when they return the remaining check stock and applicable documentation.

Limited Purchase Checks are highly negotiable and should receive the same precautionary measures as cash.  Check custodians must retain all unused checks in a secure place, out of sight in the ordinary course of business, and the checks must not be counter signed until issued. If a check is lost or stolen, the department must notify Purchasing immediately. In case of theft, the department should also notify University Police. 

Picking Up LPCs

Using LPCs