- Money received by all departments from all sources should be deposited in the Business Office daily if the receipts are $300.00 or more and weekly even if the accumulation is less than $300.00.
- Deposit forms can be accessed from the Business Office webpage. A deposit form must be filled out and submitted with each departmental deposit. The following information must be filled out in order to ensure proper processing of a deposit.
- The date.
- The name of the department or organization.
- The name of the primary contact and that person’s phone number.
- The department or organization’s FOAPAL.
- Total amount of cash being deposited.
- Total amount of checks being deposited.
- Total amount of American Express cards being deposited.
- Total amount of all other credit cards being deposited.
- Total of the entire deposit.
- Overages or shortages shall be reported to the Business Office at the time the deposit is made. All monies representing overages shall be deposited in the Business Office.
- When preparing a deposit, reconcile written receipts or the cash register tapes to the amount collected. Identify the source of the money collected on the Deposit Form.
- Report all significant shortages to the Controller upon discovery.
Responsible for Implementation: Vice President for Business Affairs and Finance
Contact for Revision: Controller