DEPOSIT OF FUNDS

Departments and individuals receiving funds on behalf of the University are responsible for their prompt deposit. All deposits to University accounts become the property of Saint Louis University and are subject to its policies and procedures.

• A Deposit of Funds Form must accompany all funds forwarded to the Cashier's Office for deposit.

• All checks received for deposit must be made payable or endorsed to Saint Louis University.

• All cash and checks must be maintained in locked storage at all times.

• Access to cash must be limited to authorized staff.

• Deposits should be forwarded to the HSC Finance Office or Cashier's Office on a daily basis or when the deposit amount reaches $50.

• Locking deposit bags should be utilized to secure large deposits. Cash must be delivered to the Cashier's Office in person and should never be forwarded via interoffice mail. Guard escorts can be requested, if necessary, from Public Safety.

• Revenues must be recorded in the fiscal year during which services are provided, regardless of when the cash or check is received by the University. For example, registration fees received on July 6th for a seminar held on June 21st will be credited to the prior fiscal year. The Deposit of Funds form must indicate the period during which services were provided.

• Receipts which are to be recorded in an account that has not yet been established may be deposited with the Cashier's Office in a holding account and transferred to the new account after it is established. Contact Joann Grant in the Cashier's Office to obtain further information regarding these types of deposits.

• Verification of deposits can be made by reviewing the monthly account statement or Screen 23 (current month transactions) or Screen 23A (prior month transactions) in the Financial Records System (FRS). Discrepancies should be promptly reported to Joann Grant in the Cashier's Office.

• Receipts must be deposited into an appropriate account with the correct income or expense object code as specified in the following sections. Contact Joann Grant in the Cashier's Office to obtain account and object code information on any category not included below. See the FRS Object Code listing for other information regarding appropriate use of object codes.