Timely Reporting of Departmental Deposits

As of July 1, 2019 (fiscal year 2020), General Accounting will begin assessing a $10 fee for posting un-booked deposits greater than 90 days old to the appropriate Department.

University Policy (Rule 3-003B) states transactions should be documented, appropriately approved, and recorded on a timely basis. Revenue should be reported in the month in which the revenue is earned. Deposits that have not been recorded in PeopleSoft for more than 90 days are not meeting this requirement. Failure to book deposits in a timely manner results in inaccurate reporting of revenue on a Department’s Management Reports. See the attached memo from Laura Howat, Interim AVP for Financial and Business Services.

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