| Activity: | Depositing Funds |
| Scope: | Governs the accepted payment methods and processes to support all receipts of Indiana University (“IU”), including those approved as Revenue Producing Activities (“RPA”). |
| Policy: | Internal Controls, FIN-ACC-470 Establishing and Closing of University Bank Accounts, FIN-TRE-52 Processing Revenue, FIN-TRE-120 Establishing and Modifying Revenue Producing Activities, FIN-TRE-121 Charitable Gifts to Indiana University, FIN-ACC-40 Donor Intent Responsibilities, FIN-ACC-45 Depositing of Revenue for the Sale of Goods and Services at the IU Foundation, FIN-ACC-460 |
| Forms: | Cash Receipt document located in KFS for funds deposited in an IU account. |
| Things to Know: | All incoming funds over $500 should be deposited within one day of receipt or weekly regardless of the amount. The daily deposit amount for coins and currency may be increased for some departments to meet operational efficiency needs only with explicit permission from Treasury. Funds not deposited should be kept in a secure locked device. Contact IU Foundation for funds deposited in an IU Foundation account. Call Rozzie Gerstman at 855-1123 for questions. Use the Accountable Mail system when sending funds to the Bursar or the IU Foundation. For more information please email Ruth Harpool. |