TSU trustees approve revised bank‑reconciliation policy after clarifying approver steps

The Tennessee State University finance committee voted Nov. 20 to adopt a revised bank reconciliation policy that clarifies who must approve reconciliations and sets a two‑approver final review.

Bradley White, Associate Vice President of Business and Finance, told trustees the policy was revised after additional review and benchmarking across peer institutions. "There are 2 schools that have the preparer and 1 approver, and there are 3 schools including us who have 1 preparer and 2 approvers," White said, describing preparer/approver structures used by other institutions.

Trustee Smith Knight asked that the policy language be changed to reflect a two‑approver process rather than a three‑step approval. White agreed the final approval structure was intended to be a preparer plus two approvers, and the committee incorporated Trustee Smith Knight’s suggested wording.

Trustee Young Sigler asked whether the policy provides for an alternate signer if a required approver is unavailable. White said the standard practice is that the approver’s direct supervisor would provide coverage, and that the policy does not yet specify an alternate signer; trustees asked that this be clarified in future updates.

Trustee Townes moved to approve the policy adopting the change proposed by Trustee Smith Knight; the motion passed on a roll call after Secretary Brown confirmed a quorum.

The finance committee recorded the vote in favor and carried the motion. The committee directed staff to ensure the wording and operational procedures align with the described approval and escalation practices.