Daily Cash Deposits

Daily Cash Deposits
Type of Policy
jbarber32 Tue, 05/29/2012 - 16:50
Policy No
Last Revised
Review Date
Policy Owner
Bursar’s Office
Contact Name
Trina Hall
Contact Title
Assistant Director - Student Account Services
Contact Email
Reason for Policy

To provide guidance to schools, colleges, departments or units of the Institute as it relates to depositing funds received.

Policy Statement

Normally, all funds received by a unit should be deposited no later than the next business day following the date of receipt. For instances in which a unit receives small amounts of cash or checks (total less than $100) which would not warrant a daily trip to the Bursar's Office, the funds may be held no more than five business days. Each unit must establish operating procedures to ensure compliance with the daily or weekly deposit requirements. All deposits should be hand delivered to the Bursar's Office in order to comply with the twenty-four hour deposit requirement. The Bursar's Office is open daily from 8:30am to 4pm.

There are a limited number of departments on campus who have been authorized by the Institute to transmit cash to the bank for their department. Although they do not go through the normal process, they are still responsible for submitting information related to funds received to the Bursar’s Office so it can be posted to the Institute’s ledger.

All checks payable to Georgia Institute of Technology must be deposited to the Institute’s bank account. Funds should never be deposited to an individual’s bank account or to a bank account which has not been specifically authorized by Treasury Services as belonging to the Georgia Institute of Technology. Checks and cash must be kept in secure locations at all times.


This policy applies to all schools, department, and units of the Institute.


Transmittal Cash to Bursar’s Office
The Deposit Remittance Form should be used as a transmittal sheet for deposits. Forms are available from the Bursar's Office. These forms may be copied for use by units at Georgia Tech.

Form Instructions


  1. Go to Page 2 of form and enter check date, check number, remitter's name, amount, and total amount of checks listed.
  2. Go to Page 1 of form
  3. Enter today's date on Page 1.
  4. Enter total amount of Checks listed from Page 2.
  5. Enter total amount of Checks listed on attachment sheets, if applicable.
  6. Enter total of all Checks.
  7. Enter total of any Credit Cards (authorized units only).
  8. Enter total of any Currency.
  9. Enter total of any Coin.
  10. Enter total amount to be deposited.


  1. Enter brief description of deposit (30 characters max).
  2. Enter Project Number and Account to which funds should be deposited.
  3. Distribute amount to be deposited for each Project/Account combination.
  4. Enter total distribution amount for this deposit. This figure must be equal to the total of the deposit.


  1. Describe the source of funds and/or provide an explanation of the deposit.


  1. Enter signature of the person who prepared deposit transmittal.
  2. Enter the telephone number of the person who prepared the deposit transmittal.
  3. Enter printed name of the person who prepared the deposit transmittal.
  4. Enter title of the person who prepared the deposit transmittal.
  5. Enter the name of the department transmitting the deposit.

Campus Schools, Colleges, Departments or Units are responsible for timely remittance of funds to the Bursar’s Office and establishing operating procedures to ensure compliance with the daily or weekly deposit requirements

The Bursar’s Office is responsible for timely remittance of funds to the Bank

Controller’s Office is responsible for timely reconciliation of the Institute’s Bank Accounts


To report suspected instances of noncompliance with this policy, please visit Georgia Tech’s EthicsPoint, a secure and confidential reporting system, at: https://secure.ethicspoint.com/domain/en/report_custom.asp?clientid=7508

Policy History
Revision Date Author Description
10-03-2014 Controller’s Office Minor updates to contacts, verbiage, etc. Policy reassigned to Bursar’s Office