Departmental Deposits

General Information

State law- University of Kansas and the University of Kansas Center for Research, Inc. policy require that all funds received for University business, must be deposited at a minimum, weekly. All University staff must adhere to the University policies, departmental business processes, system processes and job aides/procedure descriptions in the handling of received funds.

No checks or cash should be unattended nor sent through campus mail; unendorsed check are permitted to be sent through federal mail. All payments must immediately be endorsed and deposited weekly, at a minimum, in order to prevent risk of unlawful redemption. Checks made payable to a third party should not be accepted as payment to the University of Kansas or KU Center for Research. Additionally, disbursements must not be made from cash received. 

KU Endowment miscellaneous deposits for fundraising and/or donor contributions must be delivered to KU Endowment Gift Processing at 1891 Constant Avenue, Lawrence, Kansas. Detailed deposit information regarding the nature of the receipt and respective KU Endowment Fund Account must be made daily for physical funds delivered and online charitable payment processed.

Physical Deposit Preparation

The physical miscellaneous deposit preparation will reside with the personnel charged with receiving the funds at their location.  The University and KUCR deposit process is designed to assign accountability to the employees handling the funds, reduce risk of loss, minimize the physical funds changing hands and minimize the delay of deposits delivered to the bank. 

UKANS deposits -  Designated staff will follow the documented procedures for handling of funds. They are required to prepare a deposit bag, deposit slip, verify all checks, cash and coin received and seal in a properly completed tamper proof bag. It is acceptable for a department to have multiple sealed deposit bags, if necessary to facilitate division of funds received by distinct cashiers, shifts or purposes; however, there must be one deposit slip per deposit bag. If funds are mailed to a particular campus office, staff handling those funds are responsible for daily deposit using same processes. 

All endorsements by the University must fit within a 1 ½ inch space on the trailing edge of the check. Please ensure that your departmental stamp will not take up more than ½ to ¾ inches. Endorsements should include the following information. For Deposit Only, Department Name/Org #, University of Kansas or University of Kansas Center for Research, Inc.

UKANS miscellaneous deposits must be delivered to a designated drop box when money is received. A designated drop box is available at the loading dock behind Carruth O'Leary. If the department is located on the Edwards campus, contact Accounting Services for deposit instructions.

KURES deposits - Designated staff will follow the documented procedures for handling of funds. All KUCR miscellaneous deposits should be placed in an envelope with deposit funding documentation and delivered to 2385 Irving Hill Road, Youngberg Hall. A secure drop box is located at the east side of the building. Checks will be endorsed by KUCR Fiscal Affairs. Contact KUCR Fiscal Affairs for additional information.

Student Accounts & Receivables has the responsibility to bill and collect University tuition and related fees charges. Money received by a department intended for a student account bill must be delivered the same business day to Student Accounts & Receivables. Students making payments by mail for University student account charges (e.g. tuition, fees, housing, options) should be directed to send payments to The University of Kansas, Student Accounts & Receivables, PO 959859, St. Louis, MO 63195-9859.

Detailed procedural information can be found on the Accounting Services website: http://facc.ku.edu/departmental-deposits

Detailed procedural information can be found on the KUCR website: http://research.ku.edu/

Detailed procedural information can be found on the KU Endowment website:

http://www.kuendowment.org/Resources/KU-Faculty-Staff/Fund-Administration-Use-Handbook/4-0-Additions-to-Funds

Departmental Account Reconciliation

Departments and their Shared Service Center must work together to prepare deposit entries to execute deposit submissions for processing by Accounting Services and KUCR’s Fiscal Affairs.

All deposit records, receivable records and financial system reports are to be reconciled monthly. Any discrepancy is to be investigated and resolved immediately after discovery.

Financial Services, KUCR Fiscal Affairs and/or the Internal Audit reserve the right to have staff review or audit the departmental cash receipt vouchers, point of sale information, deposit records and review the business process. All departments and Shared Service Center staff are responsible for the accountability of funds received and deposits.

Questions regarding internal controls procedures to safeguard University funds should be directed to Internal Audit at 785-864-3975.