Policies & Procedures Manual - Elizabeth City State University

400.3.1.8Adopted: 06/14/05Management of Income and CashieringELIZABETH CITY STATE UNIVERSITYReceipts1. Elizabeth City State University deposits all revenues and other receipts no later than the nextbusiness day following the date of collection.2. Institutional trust funds and State funds are deposited with the State Treasurer, through FirstUnion National Bank. If the original check is drawn on the State Treasurer, the check isdeposited directly to the State Treasurer.3. Checks received by Elizabeth City State University are to be made payable to the order ofElizabeth City State University. Checks made payable to the State Treasurer are alsoacceptable.4. All cash collections are to be deposited. These funds are not to be disbursed. Alldisbursements must be made in accordance with official budgetary procedures and by warrantsdrawn on the State Treasurer.5. All checks should be endorsed as follows:"For deposit only to the credit of (name of State Treasurer), N.C. State Treasurer, by:Elizabeth City State University." A rubber stamp is acceptable.6. When depositing State Funds, Elizabeth City State University uses two separate forms, a bankdeposit form supplied by the depository bank and a certification of Deposit obtained throughthe State Treasurer Purchase and Contract Division.7. Certain types of errors must be corrected in the records of the State Treasurer and the StateDisbursing Office. These errors are corrected by preparing and filing a Deposit CorrectionForm with the State Treasurer.8. All expendable or own receipts will be credited in the State Disbursing Officer's accountsand in the State Treasurer's accounts to the allotment account of the fourth quarter for alldeposits made up to and including June 30th.9. Deposits of receipts made after June 30th, applicable to the fiscal year just closed, should beset back in the accounts constructively as of June 30th.a. Mark deposit tickets distinctly to show they are to be set back to June 30thaccounts.b. Show on receipts register of June.30th.