North Carolina General Statute 147-77 requires that funds be deposited within one business day of receipt unless specifically exempted.  Please note special procedures explained on the transmittal for gifts to the university.

Deposits with Cashier

A Daily Cash Transmittal Form must be prepared for each deposit forwarded to the University Cashier.  Deposits must be hand carried to the Cashier’s Office.  They may never be transmitted through campus mail.

Supply of Forms

Forms may be downloaded or printed from the Accounting web site within the web site for the Division of Business and Finance.

State Funds and Trust Funds

These funds may be transmitted with the same form.

Contracts and Grants Checks

Campus departments should never deposit checks directly to contracts and grants (accounts beginning with the number 5).  Funds for deposit should be hand carried to the Contracts and Grants Accountant within the Controller’s Office and a deposit transmittal will be completed by that office. Normally, these funds will be sent directly to the Contracts and Grants Office by the sponsor.

Completion of Deposit Forms

The Daily Cash Transmittal Form should be filled out completely and carefully.  The following items should be observed:
 

• The name of the individual preparing the form should be included so that the person may be contacted if there is a discrepancy or problem with the deposit.
• Multiple lines have been provided for entering several items in one account or for combining several different accounts into one deposit.
• Totals should be verified before the deposit is brought to the University Cashier for processing. The cash, checks, and paper charge card slips enclosed with the Daily Cash Transmittal Form should equal the amounts shown on the receipt forms, department check logs, or other method of record for that day.

The State and University require that adequate documentation be included to support and identify all deposits.  Attach documents to the Daily Cash Transmittal Form which will explain the source and nature of the funds being deposited.  Examples of documents include correspondence, check stubs, receipt copies, etc.  Copies of these documents should also be retained in departmental files.  Documentation requirements may be waived or modified by the University Controller if the deposit is identifiable and it is considered more efficient to maintain the documentation solely in the department.  The Controller’s Office should be contacted to request this exception.  Written approval from the Controller must be obtained to qualify for this exemption to the documentation requirements.