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Volume 38 Issue 4
October 17, 2000

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Cash issues at focus of district’s ‘alert status’

BY TAMMY JARVIS
MESA LEGEND
Submitted October 17, 2000

All those who expect funds to be readily available when they cash their paycheck, please step forward.

Not so fast, Maricopa Community College District employees. 

Citing large losses due to counterfeit and forged checks, Bank One, the district’s financial institution, has placed the MCCD account on “Alert Status.” That means each time a check issued by the district is presented at a bank other than Bank One, several steps must be performed to prove the check’s authenticity before it can be cleared for cash. 

The process can take up to two weeks or more.

According to Dawn Rector, MCCD manager of treasury, tax and audit, the problem is not limited to the Maricopa district.

“Throughout the Valley, mismanagement of funds and technology have provided a means to create counterfeit documents easily,” Rector said.

The district is working closely with Bank One to avoid future losses and, added Rector, “Bank One is doing everything they can to help us out.”

However, some employees believe Bank One is only helping themselves by forcing MCCD workers to either bank with the institution or pay a $3 fee to have their checks cashed right away. 

Many district employees, including Loretta Mondragon of Paradise Valley Community College, have complained about the inconvenience they feel this causes. 

In a district-wide e-mail Oct. 11, to which their were more than 50 responses, Mondragon wrote: “Since a majority of us are banking with banks other than Bank One, (we have to) get our checks on Friday, go stand in line with the other 10,000 district employees, cash our checks for $1,000, $2,000, or maybe $3,000...pay a $3 fee since I am not with Bank One, drive across town with a wad of cash to deposit... and if we don’t do this, (it can) take up to TWO WEEKS to post our checks!”

Bank One Media Specialist Mary Jane Rogers said the situation is legitimate. “A $3 fee for non-customers to cash checks is not unique. Most other financial institutions have similar fees,” Rogers said. 

She added, although Bank One is in the very fortunate position of having the largest market share in Arizona, it makes it all the more difficult when one very large account is constantly losing money due to fraudulent activity. According to Rogers, “putting the account on ‘Alert Status’ will help control the situation and prevent future losses.”

Rector stressed the importance of district employees being aware of the situation so they can avoid insufficient funds activity on their own bank accounts. She suggested district employees allow proper time for their checks to go through before they commit the funds elsewhere.

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