Accounting
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Treasurer's Office
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| VOLUME: I |
POLICIES RELATED TO ACCOUNTING ADMINISTRATION |
| SUBJECT: |
Depositing of Funds |
| SOURCE: |
Financial Management Services, Office of the Treasurer |
| DATE ISSUED: |
January 6, 1998 |
| POLICY NO.: |
I-440 |
| RATIONALE: |
To define when funds should be deposited and recorded. |
| POLICY: |
Deposit of income over $200 should be within one business day of receipt or weekly regardless of the amount. Within one business day of the deposit, a cash receipt document (CR) must be prepared to record the income. |
| DEFINITIONS: |
Funds include: cash, checks, credit receipts, money orders, etc. |
| PROCEDURE REFERENCE: |
Whenever possible, the campus bursar should be utilized for the receipting of income.
Funds not deposited must be kept in a secure locked device until deposited. The method used to secure the funds should be relative to the amount of funds stored. i.e. a locked desk drawer would be adequate to secure $50; however, a safe would be required to secure $5,000.
The Office of the Treasurer will prepare all CRs for income that is received via electronic funds transfer or ACH unless other arrangements have been made with the Office of the Treasurer. |
| CROSS REFERENCE: |
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| RESPONSIBLE ORGANIZATION: |
Financial Management Services, Office of the Treasurer |
Comments: vpcfo@indiana.edu
Copyright 2000, The Trustees of Indiana University
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