Policies Index Comptroller Home UVA Documents Search

Procedure: 5-6

Effective: July 9, 2001

Owner: Associate Comptroller of Accounting Services

Latest Revision: June 3, 2009

Preparation of Central Cashier Deposits

Procedure Steps

Scope | System References | Policy | Responsibility | Distribution | Ownership

Scope

This procedure covers the preparation of a deposit of cash (checks, currency and coin) with the University's Cashiers Office.

This procedure does not cover the preparation of a Bank Deposit by persons designated as having the authority to make deposits directly to a local branch of the University's bank. (See Procedure 5-5 "Preparation of Direct Bank Deposits")

System References [Top]

UVA Cashier's Offce - "Deposit Receipt Form" (PDF)
Integrated System Document Repository (for General Ledger segment values)

Policy [Top]

See University Policy II.C.1 "Records Retention and Disposition"
See University Policy II.E.4 "Controlling Cash Items"
See University Policy V.B.1 "Cashiering Activities"

Responsibility [Top]

The Department Cashier is responsible for preparing and recording the deposit, and for completing the Deposit Receipt Form and taking the deposit to the Cashier's Office in Carruthers Hall.

Distribution [Top]

Department Cashier

Ownership [Top]

The Associate Comptroller for Accounting Services is responsible for ensuring that this procedure is necessary, reflects actual practice, and supports University policy.

Activity Preface

This activity is performed whenever cash is collected by the departments and taken to the University Cashier's Office for deposit.

Department Cashier

1. University of Virginia policy requires that all funds received be recorded immediately and deposited in a timely manner. (See University Policy II.E.4 "Controlling Cash Items"). After completion of the deposit/receipt form, take the Deposit Receipt Form and funds to the University Cashier's Office located in Carruther's Hall.

2. All University depositors must restrict the placement of all endorsements either written or stamped to within 1 ½ inches of the trailing edge of the back of the check (see diagram below).

3. All checks deposited must be restrictively endorsed as below and include the department’s Integrated System Organization and Project codes.

For deposit only to within named payee/fund of
The Rector and Visitors of the University of Virginia
Department of_______________________
Oracle Org: ______ Oracle Project: ______

4. Determine the integrated System General Ledger account segment values for the items to be deposited (Entity, Project, Fund Source, Object Code, Organization).

Entity:  Determine the award to which the funds will be allocated, look on the “IS.FM_Award Common Attributes” report in Discoverer for the Award Purpose Code and use the first four digits as the Fund Source.

    Project:  Enter the funds project as the project number.

    Fund Source:  Determine the award to which the funds will be allocated, look on the “IS.FM_Award Common Attributes” report in Discoverer for the Award Purpose Code and use the first four digits as the Fund Source.

Note on Object Codes: In the majority of cases, the correct object code for recording departmental revenue will be one of the following:

4705   Sales & Svcs - Edu Activities
     
4710   Conference Income - Non Aux
     
4820   Other Income

A complete listing of revenue object codes can be found by running the Discoverer report 'IS_GL_Object Codes'.  Revenue object codes are in the 4xxx series of values.

5. Complete the Deposit/Receipt Form acording to the instructions below. The form is available on the UVA Forms Directory, under the Cashier's Office, as a PDF document. This form is designed to be completed on line. Please enter all required data before printing the form.

  • Enter complete departmental information (i.e. departmental name, address, contact person, and date).
  • Enter TOTAL amount of checks and money orders, currency and coin, and the TOTAL amount of all cash items included in the entire deposit.
  • In the comment section you should provide an explanation of the activity generating the cash items included in deposit. (Optional)
  • Enter the COMPLETE Integrated System General Ledger account segment (Entity, Project, Fund Source, Object Code, Organization, see #4 above).
    If this account is not valid, the funds will be credited to a University suspense account and the Cashier's Office will notify the department. The funds will remain in the suspense account until the department provides a valid account to the Central Cashier's Office.
  • Enter the amount credited for each General Ledger account string.
  • Enter a description of the funds being deposited for each line.
    (In the Oracle General Ledger the first 8 characters of the description will be the bank information the Cashier's Office uses to deposit these funds).
  • At the bottom of the form(s), enter the page number and the total dollars for that page.
  • When you have completed the deposit form(s) enter the total pages and total dollars for the deposit and record these totals on each form.
  • Attach an adding machine tape as verification of the total if more than one check.

6. Make a copy of the completed form for your records.

7. You will receive a receipt when the deposit is processed by the Cashier's Office. The receipt will contain a unique number that should be written on your copy of the Deposit/Receipt Form. Attach the receipt to the form(s), with all original documentation supporting the deposit and file. Original documentation may include: a record of checks and cash received; copies of checks or check stubs; adding machine tapes; or any other department records sufficient to satisfy an audit.

Foreign Checks in Foreign Currency or Foreign Bank Checks in US dollars are NOT accepted for deposit at the Cashier’s office.  You should require your customer/student to remit US Dollars drawn on a US Bank.  If that is not possible, then the University will accept a foreign wire in US Dollars which will be credited immediately. Contact the Banking Relations Coordinator in Accounting Services for instructions.

End of Activity

 


Maintained by University Comptroller
© 2001 by the Rector and Visitors of the University of Virginia
. All rights reserved.