Payments Received by Department

UMass Chan requires all non credit card payments be directly mailed or submitted via EFT to the Bursar's Office by the payers. With legitimate business needs (such as on-site conference/workshop fees, fund raising events, retail transactions), a department that wishes to accept payments from its customers first and then transmit to the Bursar's Office for processing should obtain approval for such privilege and establish detailed procedures to ensure compliance to UMass Chan internal controls at all times.

To be considered for such payment receiving privilege, the department should:

  • Contact the Bursar's Office about its business needs before completing the required forms.
  • Review UMass Chan Cash & Cash Equivalents Receipting Policy– more specifically  the sections of “Request an exception to receive payments directly at the department” and “Payments directly received in the department:”
  • Complete the “Request for Receipting Privileges Form” and submit to the Bursar's Office for review and approval
  • If approved, the department will be subject to the annual Cash Receipting procedures review conducted by the Bursar's Office.
  • If procedural/personnel change occurs during the year, submit an updated “Request for Receipting Privileges Form” to the Bursar's Office.

Main responsibilities of department when receiving payments:

  • Checks should be endorsed when they are received (contact Bursar’s office to obtain an endorsement stamp). Do not maintain copies of checks per the University policies.
  • All cash and checks must be securely maintained and safeguarded before being transported to the Bursar's.
    • Segregation of Duties should be established within the department, no one person should perform all functions (e.g., the person receiving cash should be different from the person transporting cash to the Bursar's Office).
  • Standardized transmittal form with proper signature(s) should be remitted with each deposit to the Bursar's Office. 
  • All payments received should be transported to the Bursar’s office in a locked bag within 24 hours. Department should contact Campus Security to escort transporting cash deposits of $500 or more.
  • For more control measures, please review UMass Chan Cash & Cash Equivalents Receipting Policy – “Payments directly received in the department” section.