The Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for Policy 10.3.1 Deposit Cash and Checks with the University Bursar from June 12, 2024, to June 18, 2024. This policy update attempts to clarify this process and adjust the required amounts and timing of deposits.
Highlights Include:
- Adds a requirement to submit funds of $5,000 or more within one business day (including a completed department deposit form).
- Updates deposits required within five business days of receipt from $200 to less than $5,000 (including a completed department deposit form).
- Adds a requirement stating that if a unit uses armored car services to transport deposits and the pre-arranged pickup schedule can conflict with the one and five day timeframes IF the pickup schedule is regularly reviewed and adjusted as appropriate and approved by University Bursar.
Please review the proposed changes and provide feedback on the Open Comment page.
Contact
If you have questions about the policy updates, please contact the CFO Business and Finance Policy Office at obfspolicies@uillinois.edu.
