Depositing and Claiming Funds

To maximize cash flow and safeguard assets, make deposits promptly. Section 9.38 of the Ohio Revised Code requires that all deposits exceeding $1,000 must be deposited in the bank by the next business day following the day of receipt. If your total deposit does not exceed $1,000, you have up to three business days to make the deposit, if the funds are safeguarded during that time.

Preparing & Claiming Deposits

ATM/Bank Deposits

  1. Prepare the deposit.
    1. At the close of business, an employee (other than the person collecting and recording receipts) should prepare deposits. This person should verify the funds are in balance. We recommend that one individual verify and initial all deposits prior to making a deposit.
    2. Departments and Student organizations can deposit checks, money orders, and/or cash (no coin) into the Shared University bank accounts via the PNC Bank Multi-Function ATM or branch located in the Shriver Center or the PNC Bank Multi-Function ATM located in Armstrong. Checks should be endorsed “For Deposit Only.”   
    3. For deposits in the branch, you will complete a customized, preprinted, departmental or student organization deposit ticket for all cash/check deposits. These ensure that we properly apply the receipts to your department or organization. Each division's budget manager or student organization treasurer will hold the deposit tickets. We recommend ordering deposit tickets (roughly $60) in advance of your events, by contacting our office (Treasury Services or 513-529-1788).
    4. For ATM Deposits - Departments can request a Deposit Only ATM Card from Treasury Services. Student Organizations can check out and borrow the Student Org Deposit Only ATM Card from the Office of Student Life at 2026 Armstrong Center.

Gift funds should not be deposited directly to the bank by a department or organization. The Office of Advancement processes all charitable gifts/donations to Miami.  Please take donated funds with the donor information to the main Advancement Office at:

Murstein Alumni Center:
725 E. Chestnut St.
Oxford, OH 45056

  1. Claiming your funds.

For the funds to apply to your department/organizational account, you MUST complete an online Deposit Confirmation Report within 1 business day of deposit.

     *Your funds will go to unclaimed cash without submission of this report*

  1. Retain appropriate records.

Credit Card Transactions

  1. For credit card transactions, you must generate a batch settlement tape from a credit card reader or a system/online report for all daily credit card activity. These documents should report any transactions and include subtotals by card type. Please note: You must always comply with University Policy for Payment Card Data Security.
  2. For the funds to apply to your department/organizational account, you MUST complete an online Deposit Confirmation Report within 1 business day of deposit.

 *Your funds will go to unclaimed cash without submission of this report*

Completing a Deposit Report

Once you have prepared the deposit and applicable paperwork (e.g., deposit ticket, batch settlement tape), complete a Deposit Confirmation Report within 1 business day of deposit/settlement (or contact us for a Transmittal Form) for each PNC cash deposit and/or credit card batch settlement you make. You may need to complete more than one report if you have both of these.

Completing this report is important: we will not credit your bank deposit to your Banner account until you have submitted this information. We match the Deposit Confirmation Report information to amounts that appear in the bank.

Once we have received the completed report and matched the bank funds, we enter the deposit into Banner and email a receipt to the depositor.

Submitting the Deposit

In general, Departments and Student organizations can deposit checks, money orders, and/or cash (no coin) into the University bank accounts via the PNC Bank Multi-Function ATM or branch located in the Shriver Center or the PNC Bank Multi-Function ATM located in Armstrong.   (it is possible to make other arrangements by contacting our office).

If you are using the night drop box to the left of the PNC bank entrance at the Shriver Center, put the cash (no coin) and/or checks into an envelope or flat bag along with a completed deposit slip. Be sure to retain a copy of the deposit slip for your internal records (you will not receive a regular bank receipt). Student organizations should put the name of their group on the signature line on the back of checks deposited.

The depository bank will validate your deposits and return a copy to you for your records.

Retaining Records

Keep all of your receipts, signed credit card documentation, batch settlement tapes, and deposit ticket copies with the paperwork for that deposit. Retain all paperwork in an orderly manner for four years so that it can be reviewed at any time by administrative staff or auditors.