Issued: April 3, 1989
Owner: University Comptroller
Latest Review: January 25, 2000
This policy describes the general guidelines for depositing funds to expenditure object codes in University accounts.
2.0 Policy [Top]
Deposits to expenditure codes are permitted only under the following circumstances.
:When an event is funded jointly by the University and another organization, and the University bears the initial expenses, the organization's contribution may offset the University's charges.
:If a check is returned, it should be deposited to the original object code.
:If a faculty or staff member travels on behalf of another organization, and is reimbursed by that organization, the check should be deposited to the original travel object code.
NOTE: If the University receives funds to cover the cost of travel undertaken by a University employee in the normal conduct of his/her job, these funds should be handled as a gift to the University and be deposited into a departmental sundry gift account. If the travel expenses were originally charged to a different account, an Inter-departmental Transfer Invoice should be prepared to transfer the charges to the gift account.
:If a vendor returns funds because of an overpayment or because goods were returned, the check should be deposited to the original expenditure object code.
3.0 Definitions [Top]
4.0 References [Top]
See also Procedures:
5.0 Approvals and Revisions [Top]
Previous version in effect from 4/3/89 to 1/25/00 available in policy archive.