How do I deposit cash and checks? Where can I find additional information relating to accepting and depositing of cash and checks?
Receipts of cash and checks are prepared for deposit to JPMorgan Chase through the River Campus (RC) Bursar's Office and the Medical Center Cashiers' Office. The offices consolidate all the deposits processed through into a single deposit to JPMorgan Chase. Each office has identified a process of collecting deposits and recording the deposit for credit to the appropriate ledger accounts.
What is the University's policy relating to foreign currency check acceptance?
The University can accept foreign currency checks issued in the following foreign currencies: United Kingdom, Australia, Switzerland, Denmark, Hong Kong, European Union, and Canada. A PDF version of the Foreign Currency Check Acceptance Policy is available online.
Does the University accept Discover, Visa, and MasterCard? Are there guidelines for acceptance? Is it necessary to purchase a terminal if my payer is not present?
Discover, Visa, and MasterCard are currently accepted in select areas of the University. The areas currently accepting credit cards for tender of payment are patient care and gifts. Please refer to the guidelines for acceptance and card-not-present transactions at this site. All credit card acceptance locations must purchase electronic terminal or PC software. The advantages of an electronic terminal are significant savings in credit card processing fees and ease of settlement for credit card transactions.
How can I find more information about how to fund a capital project other than funding with cash?
Funding or paying for a capital project other than with cash reserves can be accomplished through issuance of bonds, bank loans, capital leases, operating leases, short-term lines of credit, and the like. The capital project must have been previously approved by senior management. The following variables must be quantified in order to proceed with the inquiry: capital project amount, economic life of asset or capital project, the period of time which the capital project will be purchased or constructed, and a description of the item. Forward the information to the Office of Treasury and information will be gathered and returned to you.
How can I find out how much external debt has been incurred by my division?
External debt is a result of borrowing from an outside financial institution for the benefit of funding a capital project. Information about the total amount borrowed, projects funded with external debt, repayment schedule of principal, interest and fees, maturity date, and details of the loan agreement is available through the Office of Treasury. In the future, this information will be made available to authorized administrators upon their request.
Where can I find a repayment schedule for my division's external debt?
A repayment schedule is an amortization schedule of the principal, interest, and fees relating to external debt that was incurred by your division for the benefit of capital projects. Currently, a repayment schedule is available through the Office of Treasury. In the future, this information will be made available to administrators upon their request.
How can I compare a lease-versus-buy decision for a purchase for my division?
A lease is a short-term form of external debt used for the benefit of funding a capital project. Use this spreadsheet model when comparing a lease option with the use of buying with cash reserves. The model permits you to compare a monthly, quarterly, or annual lease payment. It is necessary to input information for the following variables: cost of project or equipment, lease payment amount, and term of lease. The model will then help you compare the use of cash reserves to a lease. The Office of Treasury will assist authorized administrators with further discussion and interpretation of results from the model.
How can I make a payment via electronic funds transfer?
An electronic funds transfer is the movement of funds by non-paper means (i.e. electronically), usually through a payment system such as the ACH network, Fedwire, or internationally through Clearing House Interbank Payment System (CHIPS) or Society for Worldwide Interbank Financial Telecommunications (SWIFT). Complete a request for payment form with proper signature authority and account number codes and indicate electronic funds transfer on the top of the form next to payment and send to Cash Management, Finance, Town House, Suite 250, at least one day in advance of transfer initiation due date. A form to request electronic funds transfer will be available in the future, please refer back to the Office of Treasury home page.