Departmental Deposits

All departments collecting monies on behalf of the University must meet the following criteria:

• Approval of the Business Affairs Office for the fee or activity generating the revenue.
  
• Approval of the Treasurer's Office for the procedures used to receipt, safeguard, and deposit revenues.

Departments receiving more than $100.00 per day are required to make daily deposits. Departments receiving less than $100.00 per day are required to make deposits when they accumulate $100.00, or weekly, whichever comes first.

Selective departments that receive significant revenue may be authorized to make deposits directly to the University's bank. Contact the University Cashiers Office for further information or authorization.

Transmittal Deposits received in the University Cashiers Office represent activity between the department and the bank. The Treasurer's Office only facilitates the transfer of the unopened, locked bank bag. The University Cashiers Office receives the deposit slips with the transmittal bank bag and receipts these deposits per departmental direction.

All departments should use the official University Cashiers Office Cash Receipt Transmittal document. The transmittal document must include:

• date
• department
• amount per category, company cost center, and account number
• total deposit
• amount of checks and cash (separate deposit must be made for credit cards)
• a short description of the activities generating the funds
• the initials of the person preparing the transmittal document.
• department budgetary unit code, i.e., TREA for Treasurer's Office

A representative making a departmental deposit must wait until the deposit has been verified and receipted by the University Cashier. Any discrepancy in deposits is recorded as cash over/short, which will appear on the Departmental Budget Report (DBR).

Under no circumstances are deposits to be forwarded to the University Cashiers Office through Campus Mailing Services.

Departments are responsible for verifying the deposit activity with their DBRs on a monthly basis. All discrepancies are to be brought to the attention of the University Cashiers Office in a timely manner; otherwise, the errors could result in the loss of funds for the department.

Departmental change orders are filled at First Security Bank on the second floor of the Arkansas Union.