University of Florida departments should remit all cash and/or check collections for deposit to the bank no less frequently than weekly (within five business days of receipt). Whenever collections exceed $1,000, they must be deposited within one business day to the bank.
Monies that will be deposited into a grant fund or a travel-related account should be remitted to Contracts & Grants, the Office of Research, or the Travel Office at a minimum of weekly (within five business days of receipt). Whenever collections exceed $1,000, they must be remitted to Contracts & Grants, the Office of Clinical Research, or the Travel Office within one business day.
The only exception to the general directive is that all collections are to be deposited at fiscal year-end regardless of amount.
It is essential to have timely deposits of funds to the bank, as well as secure movement of funds between departments and the bank.
All University departments.