Written by Maria Brown.
Did you know? Per NC State REG 07.30.02, all receipts must be deposited in compliance with North Carolina General Statute 147-77. This statute requires that all revenues and receipts collected by a state agency be deposited no later than the next business day, following the date of collection, unless the amount of the receipts is less than $250. If $250 or more has been collected, a deposit must be made.
Please keep in mind that a deposit must be made at least once per week and also at the end of the month, even when the amount accumulated is less than $250. Each unit must establish operating procedures to ensure compliance with the general statutes.
If you need assistance with documenting your procedures, please reach out to Lorraine De Lois at the University Cashier’s Office.