PURPOSE:

To provide guidelines for the depositing of University funds

POLICY:

The State of North Carolina requires that University funds be deposited within 24 hours of being received.

PROCEDURES:

There are two accepted procedures for depositing University funds at the University Treasurer's Office.

1. 1. The depositor presents the two copies of the University transmittal Form with accompanying funds (checks, cash, Mastercard/Visa) to a cashier. They will immediately verify that the funds agree with the transmittal form, verify the fund/account number, and machine validate the transmittal form, returning one copy to the depositor, while retaining the original.

1. 2. A departmental deposit may also be left with a cashier with the understanding that it will be verified, machine validated as soon as possible, return the proofed and accepted transmittal copy to the depositor in person.
   
   The depositor will be responsible for any differences which might be detected by the Treasurer's Office.(Treasurer's Office will furnish the department copies of the noted errors and/or omissions.)