Funds received in the department after the cut-off time each day shall be deposited with the collections received the following business day. Departments and student organizations are responsible for ensuring adequate procedures and control over the temporary safekeeping of funds prior to their deposit with the Bursar. Access to the funds be limited to the designated fund custodian. For those departments or student organizations that receive small amounts of cash on an irregular basis, while the daily deposit of cash is desirable, such daily deposit may not be or cost effective. Within this five day period, the moneys must be deposited with the Bursar regardless of the dollar amount.
All checks received are to be restrictively endorsed immediately upon receipt.
Obtain current address and telephone number of the maker of the check. Occasionally checks are received without adequate deposit information. It will be the explicit responsibility of each administrative supervisor, budget manager and student organization faculty sponsor to ensure that adequate procedures are in place to comply with these University guidelines.