Cash Handling Policy Update 4.3.2020

In response to Governor’s order of “Stay Home – Stay Health” on March 23, 2020, Office of Financial Management (OFM) has made the following update on the waiver to the deposit frequency stated in SAAM 85.50.20:

Below are some recommendations that can assist in adhering to this waiver:

• Request Mail Services to hold departmental mail for customer pickup

  • This will ensure that checks and other mail are kept in a safe and secure location

  • BAO and Internal Audit does not recommend that checks are taken home

• The waiver states to make deposits “as soon as practical”

  • Departments are no longer required to make deposits once every two weeks, which was stated in the previous waiver

  • Departments are to use its own judgement on when it is practical to make a deposit

  • Please practice maximum social distancing when processing the deposits on campus

• Deposits can be made by the following methods

  • Schmitz Hall is closed and armored courier pick up has been cancelled for the time being at this location

  • Deposits can be delivered directly to a Bank of America Branch

    • Take deposits to the teller window for immediate processing or dropped off in the night drop, located outside the building

    • Closest location near UW is on 47^th & University Ave or University Village

  • Deposits can be delivered to UWMC Cashier’s Office located in EE306 of the medical center

  • Deposits can be mailed to Bank of America Deposit by Mail

    • 

  • If your department utilizes armored courier services, contact the armored courier for information about service

• As an alternate to checks, request payments by ACH or WIRE, additional information about ACH or WIRE payments can be found below:

  • BAO ACH & WIRE Website

  • BAO Newsletter Series on ACH & WIRE

BAO Newsletter #6 dated 2/6/19 - Overview of ACH/WIRE at UW

BAO Newsletter #7 dated 3/4/19 - Difference Between Receiving ACH and Wire

BAO Newsletter #8 dated 4/3/19 - What is UPIC?

BAO Newsletter #9 dated 5/3/19 - Have I Received My ACH/WIRE Payment

BAO Newsletter #10 dated 6/5/19 - Unclaimed ACH/WIRE Payments at UW

The current situation with COVID19 can change any time and we expect that OFM will continue to work with UW when situation changes. BAO is committed in providing continuous updates throughout this time. Please email bankrec@uw.edu for any further questions.

Thank you for your attention to this matter and practicing proper compliance during this time.  

Sincerely,

MARK PARK

Assistant Director
Banking and Accounting Operations