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Armored Car Service: The Treasurer's Office can make arrangements for regularly schedule or one-time an armored car pick up. Units that deposit more than 1000 checks or more than 10 lbs of coin can contact the Treasurer's Office for armored car service.
Bar Code: A bar code is a series of black vertical lines that vary in thickness. These lines correspond to a number. Each deposit bag has a bar code and all bags are assigned/tracked by the Treasurer's Office. If deposit bag is found without a deposit ticket, the Treasurer's Office should be able to track the deposit back to the correct unit.
Business Objects: A tool users can access to view financial information from the Data Warehouse. Units should verify deposits weekly using FN01 JrnDetail Location Activity.rep under Corporate documents.
Cash Receipt Ticket (CRT): CRTs are processed through Wolverine Access from the Treasury Management link. Units complete CRTs to allocate deposited funds to two or more ChartField Combinations.
Cash Receipt Ticket (CRT) Template: A template form that allows a unit to create an online CRT with minimal data entry for deposit situations that occur regularly.
ChartField Combination: ChartFields are the seven fields used in M-Pathways to enter, record and report financial transactions for the University. A ChartField Combination is a sequence up to seven fields that describes a specific financial activity within the University. For additional information on ChartFields see the MAIS Web site
CoinLok Bags: Special heavy duty deposit bags designed specifically for 10 lbs - 50 lbs of U.S. coin. If a University unit has this amount of coin to deposit, they are advised to contact the Treasurer's Office to obtain this type of deposit bag and potentially make arrangements for an armored car for transportation to the LaSalle Vault. If multiple bags are sent, only one deposit ticket is required (placed on the first bag).
Commit: To complete and submit a Cash Receipt Ticket (CRT) is done by pressing the Commit button. After the CRT is committed, the CRT entered into the system and cannot be canceled or altered.
Deposit Station: Deposit Stations are ATM-like devices located at various convenient locations on the Ann Arbor campus. Units that handle smaller amounts of cash ($2000 or less than 10 lbs of coin) or less than 1000 checks on a daily basis will make deposit to Deposit Stations. Making a deposit requires an Mcard, scanning of the deposit bag(s), and placement of deposit into Deposit Station. It does provide a receipt for verification purposes. LaSalle Bank processes these deposits each non-holiday business day.
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Foreign Checks: Foreign checks are drafts drawn on a non-US financial institution. Units that accept foreign checks must follow special procedures. Canadian checks in US dollars (USD) can be processed with regular domestic checks. Canadian checks in Canadian dollars (CDN) must be processed in a special envelope, USD conversion determined, and processed with domestic checks. All other foreign checks are not recommended for acceptance by units. If a unit accepts a foreign check it should be known that the check must be an equivalent of at least $250 USD. There are multiple bank fees that reduce the total value of the check and will take 8 - 12 weeks for collection. There are also special handling instructions for depositing foreign checks. Contact the Treasurer's Office for additional details.
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Internal Controls: Internal controls as it relates to handling cash and checks, provides important benefits to the unit and University by improving the quality of accounting information and reduces the possibility of mismanagement, error, and fraud. The key internal control responsibilities are: Segregation of Duties, Review and Approval of Transactions, Controlled Access to Resources, Supervision, Verification and Analysis of Financial Information, and Documentation of Internal Controls. For further information see SPG 500.01.
Journal ID: Credit and debit journal entries are assigned a Journal ID. When reconciling deposits or deposit adjustments, the journal ID will have 'CR' followed by the 8-digit deposit ticket number.
Kerberos Password: This password along with uniqname is the logon used to access many University systems including Wolverine Access which is used to create Cash Receipt Tickets under the Treasury Management link.
LaSalle Bank: Financial institution chosen by the University to provide depository banking services to all University campuses. LaSalle is assisting the Treasurer's Office in a banking restructuring project that will result in a savings in banking fees, quicker and better access to financial information, and free deposit supplies.
Location Code: A four digit number assigned to units by the Treasury Department. It is printed on all deposit tickets and enables Financial Operations to track depository activity and materials.
Mcard: The official University identification card. It is required to make a deposit into a Deposit Station.
Metro Delivery: A University Procurement Strategic Partner that provides courier service. Contact the Treasurer's Office to implement courier service of deposits to LaSalle Bank.
MICR Encoding: MICR stands for Magnetic Ink Character Recognition, and is used to describe the special numbers and symbols you typically see at the bottom of checks, and the technology and processes to produce and analyze these characters. All deposit tickets contain MICR encoding to properly designate deposits to the depositing unit.
Money Pack: When strapping currency a full money pack is a single strap containing 100 bills of the same denomination of currency arranged face side up. For example 100 $1 bills = $100 or 100 $20 bills = $2,000. Units preparing deposits must strap full money packs whenever possible.
MToken: A physical device that generate a new six-digit numeric tokencode every minute. University staff and others utilize this device as apart of two-factor authentication to multiple University administrative systems. If one is to process an online Cash Receipt Ticket (CRT) through the Treasury Management link in Wolverine Access, this person will have to possess an MToken.
Non-Sufficient Funds (NSF): A banking term that implies a check which the University deposited at LaSalle Bank was returned from the originating bank for lack of funds. LaSalle Bank will attempt to present the NSF check twice before it is returned to the unit via Transaction Services Financial Operations at the University.
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Refer -to-Maker: A banking term on a returned check that implies a check is not redeemable, generally for stale dated checks or suspicion of fraud. These checks are returned to the unit via Transaction Services Financial Operations at the University.
Restrictively Endorsed Checks: Units preparing checks for deposit must use the unit's endorsement stamp to restrict the checks from being deposited to anyone other than the University. Checks are endorsed in the reserved area on the reverse. Endorsement stamps are provided by the Treasurer's Office.
Save for Later: In the event that a Cash Receipt Ticket (CRT) cannot be completed timely, one can click the Save for Later button and it will be temporarily saved. It can be completed (Committed) by clicking on the associated deposit ticket number on the CRT Home Page .
Sequence Number: The sequence number, as it relates to the depository process, is the four digit number printed on the deposit ticket at the top right corner and also in the lower left corner. The sequence number in the lower left corner is preceding by the unit's Location Number. The Location Number + Sequence Number is the fundamental key to tracking deposits through LaSalle Bank and the University's financial systems and Statement of Account.
Shortcode: A six-digit number that represents a portion of a ChartField Combination. At a minimum, this refers to a specific Fund/Department ID/Class combination, but may also include a Program and/or a Project/Grant value depending on how the unit is tracking its business.
SOA (Statement of Activity): The University monthly accounting tool provided by Financial Operations for units to reconcile all posted debits and credits.
SPG (Standard Practice Guide): The University's operating policies and practices of the various departments, facilities, and services that are available. Normally internal procedures within an office or department are not included in the SPG. Several SPG's relate to depository practices such as SPG 500.01 related to departmental cash management and SPG 201.12 covering discipline-performance and conduct standards.
Stop Payment: A banking term where a check that the University deposited at LaSalle Bank was returned from the originating bank as unpaid. The person who wrote the check placed a stop payment order, which basically means that the person did not want that check to paid. Stop payment checks are returned to the unit via Transaction Services Financial Operations at the University.
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Uniqname: A University user ID up to eight characters in length. It is used for logging on to University systems and is part of a person's email address.
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Wolverine Access: An online gateway for University administrative systems. It requires uniqname and Kerberos password for access. From the Treasury Management link, one can process a Cash Receipt Ticket (CRT).
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