Depositing Cash

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.

For deposits, use the following process:

  1. Prepare the deposit.
  2. Complete the Deposit Confirmation Report.
  3. Submit the deposit.
  4. Retain appropriate records.

Please note: If your department routinely processes a volume of checks, you may consider using remote capture, a technology-based method that allows you to scan the front and back of checks endorsed as "for deposit only" and then submitting them to the bank through an encrypted internet connection.

Preparing the Deposit

At the close of business, an employee (other than the person collecting and recording receipts) should prepare deposits. This person should verify the drawers are balanced, then complete a balancing form. We recommend that one individual verify and initial all deposits prior to making a deposit.

Next, complete a customized, preprinted, departmental or student organization deposit ticket for all cash deposits. These ensure that we properly credit the receipts to your department. Each division's budget manager or student organization treasurer will hold the deposit tickets. We recommend obtaining deposit tickets in advance of your events, by contacting our office ( or 513-529-1788).

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.

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 (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, deposits (other than credit card) should be made at the Shriver Center branch of PNC Bank (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 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.