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Cash Handling and Deposits (FY23)

April 18, 2023

In accordance with the Ohio Revised Code and Ohio University Policy #51.001 Deposits of Funds , all funds must be deposited with the Office of the Bursar or with the regional campus business office within one business day of receipt unless the amount is less than $1,000 andthe funds can be safeguarded. In that case, the deposit can be delayed until the third business day, or when the amount reaches $1,000 or more, whichever comes first.

The Office of the Bursar is the University’s primary cash handling agent. Ideally, from a control perspective, the collection and controlling of funds (cash, checks, credit cards) should be centralized with the Bursar when possible. It is strongly recommended that departments contact the Office of the Bursar to discuss the centralization of collections ( cashier@ohio.edu ).

All departments accepting cash, checks, or credit cards must ensure proper controls are in place to safeguard collections until deposit. All departments collecting funds are subject to periodic, unannounced audits by Internal Audit. All staff and students handling any form of currency are required to complete the Cash Handling & Credit Card Security Awareness training annually. Refer to the Bursar website for more information.

To ensure all receipts are recorded appropriately for fiscal year-end, deliver all deposits to the Office of the Bursar or your regional campus business office by 3:30 pm on Friday, June 30, 2023.

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