Financial Services Policy 7.6 – Expenditures in a Foreign Currency

University checks for the payment of goods and services (except payroll) can be converted to a foreign currency if circumstances require. The department should make a written request and clearly indicate the foreign currency and amount needed. All normal expenditure documentation standards must be met. A university check will be written in U.S. dollars and payable to the commercial bank used by the University based on the current currency exchange rate. The bank will then issue a check payable to the appropriate vendor in the foreign currency needed.