2. General Administration complies with General Statutes 147-77 which states that all revenues and other receipts collected by a State agency, belonging to the State of
3. Checks received by General Administration should be made payable to the order of The University of North Carolina-General Administration. However, checks made payable to the
4. All cash collections are to be deposited. These funds are not to be disbursed since disbursements must be made in accordance with official budgetary procedures and by warrants drawn on the State Treasurer.
5. All checks should be appropriately endorsed. Endorsements for checks delivered to bank should be as follows (a rubber stamp is acceptable):
For Deposit Only to the Credit of (Name of State Treasurer), N. C. Treasurer, By: (Name of Agency)
6. When depositing funds, General Administration uses a bank deposit ticket supplied by the depository bank.
7. Deposits made after June 30 applicable to the fiscal year just ended should be recorded in the accounts as of June.
• Mark deposit tickets distinctly to show they belong to June 30 balances.
• Report on receipts register as of June 30th.
• Do not predate receipts to the previous year, which do not belong to that year.
• Any receipts which belong to the fiscal year just ended should not be deposited to the credit of
the new year.
• The Daily Deposit Act (G.S. 147-77) requires revenues to be deposited immediately.
periodic balancing and reconciliation. The responsible department head should review the accounts, with
appropriate collection efforts contemplated. Monthly billings should be provided to all debtors.