Cash Handling and Deposits
[The following was approved by the Chancellor of Southern Illinois University on November 20, 2002, in accordance with provisions set forth in SIU Board of Trustees Policies ]
DEPOSITING FUNDS: Departments that collect revenue must make deposits to the Bursars Office, located in the Student Services Building. All funds collected should be deposited the following business day. Credit card payments will be deposited upon receipt by the bank directly to your budget purpose. Conveyance of collections to the Bursar's Office will be the responsibility of the department.
To ensure receipts are properly deposited and recorded in AIS, someone other than the person(s) accepting customer payments and making the deposit must reconcile to AIS. This should be done on a regular basis, no less than monthly.
Additional Receipt Requirements:
- All checks should be made payable to SIU, SIUC, or Southern Illinois University.
- All checks should be restrictively endorsed with the department name, budget purpose and "For Deposit Only".
- An adding machine tape should be attached to all check batches; one batch can include up to two hundred checks.
- If the deposit consists of both cash and checks, a tape should be included with the checks and another one with the cash.