All deposits to a contract or grant account are to be made by the Division of Finance unless specific prior approval has been given in writing by the Division of Finance. Deposits are to be made through the Division of Finance within 24 hours of receipt. The three types of deposits for contracts and grants are as follows:
1. Revenue - These are the funds received by UNC to support an approved award from a sponsoring agency.
2. Refund of Expenditures - A refund of expenditure is when full or partial payment to a vendor has been returned to UNC.
3. Program Income - When a contract or grant charges a fee for a workshop or sells publications as stipulated in the contract or grant, the funds are considered program income and must be deposited to that account.
For Procedures and Exhibits, refer to UNC GA Administrative Procedures, Accounting Section, Statement 2.0.