Articles (18)

301 - University of North Carolina at Chapel Hill Policy on Cash Management Plan

It is the policy of the State of North Carolina that all agencies, institutions, departments, bureaus, boards, commissions and officers of the State, whether or not subject to the Executive Budget Act, Chapter 143, Article 1 of the General Statutes, shall devise techniques and procedures for the receipt, deposit, and disbursement of moneys coming into their control and custody which are designed to maximize interest-bearing investment of cash, and to minimize idle and nonproductive cash balances

302 - University of North Carolina at Chapel Hill Policy on General Receipts and Deposits

The Daily Deposit Act, North Carolina General Statute 147-77, requires daily deposit of funds received by the University. In addition, a consistent process of documenting receipts and deposits is an important internal control practice to ensure the security of assets and the accuracy of revenues.

302.1 - University of North Carolina at Chapel Hill Procedure on Receipting Funds

The Daily Deposit Act, North Carolina General Statute 147-77, requires daily deposit of funds received by the University.

302.2 - University of North Carolina at Chapel Hill Procedure on Restrictively Endorsing Checks for Deposit

Check items received by the University must be endorsed with the following restriction either in writing or by stamp: For Deposit Only, To the Account of, The University of North Carolina at Chapel Hill.

302.3 - University of North Carolina at Chapel Hill Procedure on Monitoring Outstanding Deposits

Review outstanding deposits (those for which a deposit transmittal has been created, but the University Cashier has not yet processed) on a regular basis.

302.4 - University of North Carolina at Chapel Hill Procedure on Presenting Foreign Items

A foreign item is a check, money order or draft that is not drawn on a U.S. bank or payable in U.S. funds. These items must be sent to the bank for special collection.

302.5 - University of North Carolina at Chapel Hill Procedure on Reporting Cash Payments Over $10,000 Received in a Trade or Business

The University is required to report to the Internal Revenue Service (IRS) the receipt of cash in excess of $10,000 in a single transaction or two or more related transactions that are received in the course of the University's trade or business.

304 - University of North Carolina at Chapel Hill Policy on Petty Cash Funds

Petty cash funds or change funds are used by the departments for cash payment of minor items or to make change to customers. This policy provides guidance for the authorization, establishment and maintenance of petty cash funds, including appropriate uses, safekeeping, audit and annual confirmation.

304.1 - University of North Carolina at Chapel Hill Procedure on Establishing, Maintaining and Closing a Petty Cash Fund Account

To establish a petty cash fund, the dean, director or department chair should submit a letter to the University Controller justifying the need, the types of expenses to be paid, the method of safekeeping, the source of funds, the amount needed and the individual responsible for the administration of the petty cash fund (petty cash custodian).

306 - University of North Carolina at Chapel Hill Policy on Imprest Checking (Bank) Accounts

To provide guidelines for managing imprest checking accounts, which are supported by a limited amount of University's unrestricted endowment income funds.

306.1 - University of North Carolina at Chapel Hill Procedure on Establishing an Imprest Checking (Bank) Account

This procedure explains how to request and establish an imprest checking account.

306.2 - University of North Carolina at Chapel Hill Procedure on Maintaining and Closing an Imprest Checking (Bank) Account

Maintaining an imprest checking account requires periodic replenishing of the bank balance, reconciliation and evaluation of the activities to determine the adequacy of the funding. The department should close the imprest checking account if the purpose for which the account was established no longer exists.

307 - University of North Carolina at Chapel Hill Policy on Cash Advance

Cash advances are necessary for efficiency or because they are the only means acceptable to the payment requirements of the service rendered. This policy explains how to obtain the necessary funds to meet payment requirements, appropriate use and settlement of such cash advance funds.

307.1 - University of North Carolina at Chapel Hill Procedure on Requesting, Reconciling, and Settling Cash Advance

This procedure addresses how to request a cash advance, guidelines for maintaining supporting documentation at the department level, and procedures for reconciling and settling cash advance.

309 - Policy on Escheats

The purpose of the Policy on Escheats is for the University of North Carolina at Chapel Hill to comply with North Carolina General Statute 116B, Escheats and Abandoned Property.

309.1 - Procedure for Reconciling, Reporting, and Escheating Abandoned Property

To maintain appropriate fiscal reporting and ensure internal controls are met to prevent fraud, all imprest checking account, payroll account, accounts payable account, and petty cash account custodians must reconcile their accounts and report outstanding liabilities during the previous fiscal year at the conclusion of the current fiscal year to Cash Management.

721 - Policy on NC Sales Tax on Admission Charges

Sales taxes must be collected on admission charges to entertainment events and remitted to the N.C. Department of Revenue.

721.1 - Procedure for Processing NC Sales Taxes on Admission Charges

The sales tax for admission charges is required by N.C. General Statutes.