Deposit Procedures

Deposits of Checks and Cash Receipts

UCorp policy requires all cash or check deposits to be made directly to the SFSU Cashiers/Bursars Office (Administration Bldg - first floor), with the exeption of checks/payments related to gifts or grants. Any payment/check identified as a gift or grant, should be taken to University Development/ADM 154 with all correspondence related to the payment/check (including, but not limited to award letter, gift agreement, etc.).


Required to make a deposit to the Cashiers/Bursars Office:

1. Completed Deposit Transmittal Form, and this needs to include a valid CRS number (see below), that corresponds to type of revenue and appropriate project account.

2. Completed Deposit Tally Sheet summarizing amounts indicated on Deposit Transmittal form

3.  Copies of all checks being deposited, along with any related correspondence and/or additional support.

4.  Adding machine tape of items listed on Deposit Transmittal, with all totals in agreement

The CRS web look up (https://ids.sfsu.edu/crsweblookup/index.jsp) should be used to identify the correct CRS number for a specific project account. Please be sure to choose the appropriate Business Unit from the drop-down menu.

All checks should be made payable to University Corporation SF State, and properly endorsed with the appropriate bank stamp.

If check is not made payable to University Corporation, prior to endorsing with bank stamp, a written endorsement should be noted: "[PAYEE INDICATED] pay to UCorp"

If checks are made out specifically/solely to SFSU, Bon Bitonio, University Controller, or Maureen Pasag, AVP for Fiscal Affairs, is authorized to endorse.

If there is a high frequency of deposits to be made relative to your UCorp project account, please contact UCorp, x87925, to arrange for a bank stamp to be issued to you.


Important reminders:

1.       Deposits should never be sent through intercampus mail, since their arrival cannot be guaranteed.

2.       Checks related to the settlement of petty cash and/or travel advances, should also be submitted for deposit via the Cashiers/Bursars Office - do not submit checks with settlement documents.

3.       Per the CSU and the University's policies "Collections at other cashiering locations and departments are deposited at the designated main cashiering station at least weekly or whenever collections exceed $500." In order to protect University Corporation assets and minimize the risk of loss, please make all deposits within the required time period as stated in the policy.


Deposits related to Credit Cards

UCorp has implemented an online process [ go to: https://ucorp.sfsu.edu/service/onlinepayments.jsp ] to accept credit card payments made to your UCorp project accounts. This application should be accessed/used by the actual payee (credit cardholder).

Prior to directing any individual to this link, please contact Anthony Victoria, x82238 or avictori@sfsu.edu - so as to ensure your UCorp project account has been set-up to receive credit card payments.

 

Deposits Made by Wire Transfer

The UCorp can accept wire transfers from other financial institutions. The Incoming Wire Transfer Notification form should be completed and submitted to the UCorp as soon as it is known that a wire transfer is forthcoming. It is important to note that this form also contains all of UCorp banking information required by the party/organization initiating said wire transfer.

Other Issues:

It remains the fiduciary responsibility of the U Corp to ensure deposits are credited in a timely manner to their intended project account, and we may only accomplish this task with the full cooperation and assistance of our project directors. It is important that the proper/appropriate UCorp project account (https://ucorp.sfsu.edu/policies/types/index.jsp?menu=4is established in advance, prior to receiving any deposits of any kind.

If and when your UCorp project account is involved in the selling of items, consideration needs to be given to sales tax. The UCorp is not exempt from sales tax, and said tax will be levied upon all applicable sales made.