Deposits

 

  1. 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.
  2. 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.
  3. The date.
  4. The name of the department or organization.
  5. The name of the primary contact and that person’s phone number.
  6. The department or organization’s FOAPAL.
  7. Total amount of cash being deposited.
  8. Total amount of checks being deposited.
  9. Total amount of American Express cards being deposited.
  10. Total amount of all other credit cards being deposited.
  11. Total of the entire deposit.
  12. 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.
  13. 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.
  14. Report all significant shortages to the Controller upon discovery.                  

 

Responsible for Implementation: Vice President for Business Affairs and Finance

Contact for Revision: Controller