10.2.3 Reconcile Cash Receipts Monthly
Policy Statement
To ensure all funds are properly accounted for, unit heads or delegate must reconcile all deposited and recorded funds monthly.
Reason for the Policy
To ensure all funds are properly accounted for and help safeguard University funds, unit heads or delegate must reconcile all deposited and recorded funds each month and report any significant discrepancies.
Applicability of the Policy
This policy applies to all University of Illinois Cash Handling Units.
Procedure
Reconcile and report any discrepancies immediately to University Bursar Cashier Operations. Document reconciliation in a worksheet and retain it in unit files.
10.2.2 Reconcile Cash Receipts Daily
First Published: February 2008 | Last Updated: March 2023 | Last Reviewed: March 2023