Bank Deposits for 2017-2019 Biennium Close
This is just a reminder to all that the 2017 – 2019 biennium close is coming up this Friday. Please note, that ALL bank deposits must be received into UW’s bank account by June 28, 2019 to be accounted for in the current biennium. Please note, that June 29th and 30th are not business days as it is Saturday and Sunday. This means that any deposits made on those days would be considered received on the next business day, Monday July 1, 2019, and will be accounted for in the next biennium.
- ACH/WIRE payments must settle on UW’s bank account by June 28, 2019. Best practice is for the sender to have the funds debit their bank account by June 27, 2019. Please note, if you are expecting an international wire, the typical timeframe to receive the funds into UW’s bank account is 2 to 3 business days from the date the funds were sent.
- All cash/check deposits must be received into the bank account by June 28, 2019. This means the deposit must be processed by a bank teller or the cash vault by June 28, 2019. Deposits delivered via armored courier are not guaranteed to post to the bank account the same day. Armored couriers must deliver deposits to the cash vault by 4pm for same day processing, but this deadline may not be met as a result of delivery schedules, traffic, etc. This includes any deposits dropped off at Schmitz Hall since the deposits are picked up by an armored courier. The best practice is to take the deposit to the nearest Bank of America for same day processing.
Cash Transmittals (CTs) can still be submitted for June accounting month until July 24, 2019. Any CTs submitted after that day will be accounted for in the new biennium. Please visit the biennium close calendar for more information.
2017-2019 Biennium Close Calendar
Biennium close is just around the corner. To find out the schedule of when you can upload CTs for the biennium close, please click here!
Monthly Deposit Report
BAO has created a Monthly Deposit Report for cash/check deposits. To find out more, please click here!