Policy 7-3-2: Bank Deposits

 

Policy: Policy 7-3-2: Bank Deposits Date Adopted: March 29, 2005  
Department: Finance & Administration Date(s) Reviewed and/or Revised:

 February 14, 2022; May 3, 2011; September 2, 2008
Contact: Controller
Statement: Process for depositing of cash and checks.

Section 1: Procedure

  1. Controllers office and rural campus cashiering staff will deposition checks daily via the remote deposit process.
  2. Controllers office will deposit cash weekly. Additional deposits may be made as needed based on volume and amount on hand.
  3. As directed by the Controllers office, all other departments are required to deliver their deposits to the Controllers office every three days unless the total exceeds $500. For amounts of $500 or more, the deposit shall be daily.