Provides information on hours for call for checks and procedures on how to handle deposits to the University.
I. University Deposits
Cash/Check deposits to the Office of Financial Affairs
All deposits should be delivered to the University Cashier in the Office of Financial Affairs (OFA). Deposits may be hand-delivered to the Cashier’s window or dropped in the OFA mail slot outside the office. The OFA does not recommend sending deposits through Campus mail.
All deposits should be to a revenue account with the exception of telephone reimbursements. Please refer to Revenue Policy.
Preparation of deposits
All deposits must be sent with a Cash/Check/Credit Card Transmittal Form (available in the NEST Document Repository Financial Affairs folder). Please list the amount of cash and checks on the appropriate lines. An adding machine tape of all check amounts should accompany the checks. A list can also be prepared in writing or on a spreadsheet. The department name, budget number to be credited and the amount of the deposit should be listed on the form.
The University department will be notified of any discrepancies in the amount listed on the Transmittal Form and the amount verified by the Cashier.
All credit cards deposits should be sent with a Cash/Check/Credit Card Transmittal Form. American Express, Master Card and Visa are accepted.
The following information is required for all credit card transactions.
- Cardholder’s name
- Credit card number
- Expiration date
- Something in writing from the individual cardholder authorizing the charge
The department name, budget number and total amount charged should be listed on the form.
II. Disbursement Policy
Checks are cut on Tuesday and Thursday. Changes to this schedule may be in effect during holidays and summer months. All Request for Funds must be received by 12 noon on Monday for disbursement on Tuesday and by noon on Wednesday for disbursement on Thursday. Checks can be picked up from 11:00AM-12:00 PM and 3:00-4:30 PM every day. Call for checks should be picked up at the Cashier window at the Office of Financial Affairs.
*Cash requests are limited to $50.00. Follow same schedule as check .
III. Revenue Policy
Definition of revenue accounts:
Revenue accounts are used to deposit funds received. These funds can be for a donation,event held or goods sold. In order to access these revenue funds a department should contact the Office of Financial Affairs (OFA) and provide them with a budget as to where funds will be expended. The OFA will set up and post the budget adjustment to the appropriate expense account code(s).
Many departments have specific revenue accounts and should continue to use these. Accounts that relate to University departments include those listed below.
5570 Fund Raising Events – This account should be used when a department is receiving funds in exchange for merchandise or services. For example the selling of T-shirts, having a luncheon or holding an auction/event to support a specific program.
5115 Seminars – This account should be used when a department is holding a seminar.
5680 Reimbursement of Expense – This account should be used when a department is selling items and the cost of the goods is equal to the funds received (i.e. chemistry lab supplies or dispensary supplies.)
5734 Miscellaneous Income – If a department has revenue that does not fit into any of the above descriptions it can deposit the funds in this account. Please check with the Office of Financial Affairs to determine if there is a more appropriate line then miscellaneous income.
Special Note: If you are receiving revenue from a source that will be continuous and does not fit into the above accounts, please notify the Office of Financial Affairs. We may need to set up a new revenue account.
University Donations - The Development Office should be contacted if the following criteria are met:
- A company/individual gives a check to a department to support the department or a program within the department.
- The company/individual does not receive goods or services in return for their support.
Development will pick the check up and put the funds into the departments appropriate revenue line. On a quarterly basis the Office of Financial Affairs will move the budget money into the departments 7093 account code in order for the funds to be expended.