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Deposits

Rules:

  • Student groups are responsible for depositing money into their own accounts. The only exception to this is if a group receives money from a company or individual that gives a gift/donation. Please see gift deposit instructions.
  • When funds are collected for items or events that are not revenue generating, then funds must be deposited into the account where the event is allocated.
  • If you are depositing funds into your Fundraising account, then you must use your Fundraising account to finance the event or to purchase the items that are used to Fundraise.
  • If you are collecting funds for any reason those funds must be deposited into one of your Student Union group accounts within 24 hours. If you cannot deposit the funds within 24 hours you may ask the Business Coordinator of the Day to place your money in the SU safe. You will be responsible for depositing the funds the day after your event/program has concluded.
  • Do not use collected funds to pay for program expenses or to reimburse your members for any out of pocket costs. Never pay for a contracted service out of pocket or with cash you have collected. Evidence of not depositing funds will result in an immediate freeze placed on the student group’s SU account and possible denial of future funding.
  • If you have any questions about the deposit policies please see a Business Coordinator.

How to make a Deposit:

  1. Total all your funds, then fill out, submit, and print a request form (with the request type: Deposit Voucher) on sufinance.wustl.edu

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  3. Ask a student worker for a deposit bag.

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  5. Separate the money into 3 categories and calculate their respective total amounts

    • Total Cash/Currency
    • Total Coin
    • Total Checks
  6. Remove the deposit slips from the deposit bag. There should be a white primary slip and two carbon copy slips behind it -a yellow and a pink one. DO NOT SEPARATE THESE SLIPS YET!

  7. Make sure all the slips are aligned with the white slip on top and fill out the white slip with a black or blue pen. Here you will list the total cash, coin, and checks that you added before as well as the grand total of the three categories. You will also need to record each check separately with its check number and corresponding monetary amount.

    • Note that each check counts as a single ‘item’, but cash and coin do not count as items. For example, if you have 7 checks and $40 in cash you will record 7 total items.
  8. Once the white form is filled out check that it copied through to the yellow and pink carbon copies beneath it and then you may separate the three slips. 

  9. Make copies of all the checks you will be depositing. You may copy more than one check on a page but only use the front side of a piece of white paper, no double sided copies please.

      There are three different ways to make checks payble to your student group:

    • Washington University in St Louis
    • Student Group Name
    • Student Union
  10. Ask a student worker for the stamp to stamp checks with, then stamp the back side of all of the original checks with one of the SU stampers on the lines that say “endorse here”. Make sure the lettering on the stamper is not facing upside-down before you stamp the check.

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  12. Put your checks, cash, and coin along with the white deposit slip into the deposit bag.

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  14. Record the total amounts for cash, coin, and checks along with your student group’s name on the front of the bag.

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  16. Remove the piece of the bag with the 7 digit number on it before closing the bag. Do not dispose of the peeled off piece of bag as you will need to attach it to the front of your printed request form later. Then close the bag.

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  18. Using clear tape, tape all sides of the pink deposit slip as well as the peeled off number from the deposit bag onto the front of your deposit voucher request form as depicted below. 

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  20. Staple the request form, the copied checks, and the yellow carbon copy of the deposit slip together in the following order:

    1. On top is the request form 
    2. In the middle are the copies of the checks
    3. At the back is the yellow deposit slip 
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  22. Ask a student worker for a key to the deposit box and turn in your request form having the student worker check and make sure everything is in the right order and filled out correctly.

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  24. Travel to the deposit box located on the outside wall in between Mallinckrodt and Bank of America. Use the key given to you by the student worker to unlock the box and put your deposit bag in the box. Then close and relock the deposit box.

  25. Return the key to the student worker on duty and congrats you are finished!