Revolving fund accounts are assigned to full-time UW employees who need to pay research subjects by check for long-term studies. The UW employees to be assigned to a revolving fund must not have any past due field advances. Accounts with no activity for 90+ days will be considered for closure.
Click on a question below to view the answer. Limit the results by entering a search term.
Reimbursements to UW employees for UW business is not allowed from revolving fund bank accounts. The only reimbursements that can be processed are to research subjects for items such as parking or food while participating in a study. For UW employee reimbursements, please refer to eReimbursements or Travel Reimbursements.
The only deposits that are allowed in revolving fund bank accounts are for reimbursements associated with expenditures processed by the revolving fund desk. Departments that need to make a deposit for other UW related business should email email@example.com for guidance.
The revolving fund bank account should be reconciled monthly. If you have a high volume of activity, it is highly recommended that you reconcile weekly. There are no limits as to how many reimbursement packets you can submit per month.
- Voided checks occur when the check is written in error and the check is still in-hand. Write VOID across the check and keep the voided and keep it for your audit records.
- A canceled check is when the check is not in-hand but was not received by the research subject. It could be lost in the mail or the subject may have misplaced it. Verify the check has not cleared your revolving fund bank account before reissuing a new check.
- Checks that are 6+ months old need to be reported through the stale date process. Stale checks are still payable to the research subject and funds will be either claimed by the subject through the stale date process or reported as unclaimed property. Funds are not credited back to the department budget as they are still payable to the research subject.
ATM and debit cards are not allowed to be tied to a revolving fund bank account.
The account only allows checks as a form of payment. If the research subject requires electronic payment, please utilize other payment options by emailing firstname.lastname@example.org .