All cashiering transactions performed by University offices must be processed through the Cashiering Office in the Office of Finance, even if the department posts transactions to Banner. Departments responsible for collecting money must adhere to all applicable state and University policies and procedures and are designated either off-line or on-line collection sites.
Our policies and procedures for collecting funds are mandated by the Commonwealth of Virginia and by University policy. The State Comptroller mandates that all state agencies must deposit all funds collected within 24 hours of receipt of the funds. Exceptions to the 24-hour rule must be justified by the small amount collected ($200 or less) and by the availability of adequate safekeeping facilities.
Please refer to the training materials Dealing with Payments/Cashiering for full details.