Topics Covered


Monthly Reconciliation and Reimbursement Request

     This covers how to submit your expenditures and replenish your revolving fund bank account.


Filling Out a Reimbursement Request

Replenishment requests should be submitted for processing on a MONTHLY basis. 

Past due accounts may be subject to account closure.

To submit your revolving fund packet, please scan and email the following items:

Include the vendor number in the email subject line. 

Indicate the amount to be reimbursed and whether you sent hard copies in your submission. 

  • Excel file/version of the Replenishment Form
  • Signed copy (PDF) of the Reconciliation Form
  • Signed copy (PDF) of the Replenishment Form
  • Outstanding Checks Log (aka Check Register)
    • Use our form in the Reconciliation Form or send an Excel spreadsheet; do not include research subject names
  • Scan in any receipts associated with the replenishment
  • A copy of the full bank statement used to reconcile the bank account

Please collect the required documents and email to RevFund@uw.edu

It is no longer the policy of Global Services- Revolving Funds to accept reconciliations sent via campus mail.  Please contact us at RevFund@uw.edu if you would like further information on how to scan/email signed forms or use DocuSign and eSignatures.

Replenishment Form  
This form lists expenditures by object code that will be charged to the budget. 

Reconciliation Form  
Use this form to demonstrate that all the funds have been accounted for.

 

Allowable Expenses

Payments Allowed on a Revolving Fund
  • Payments to a research subject for participating in a study
  • Payments for food for research subjects (if allowable on budget)
  • Payments for travel for research subjects (if allowable on budget)
  • Reimbursements to research subjects for study related expenses
Examples of Payments not Allowed on a Revolving Fund
  • Services from individuals, LLCs or Partnerships. Some examples would include consulting, interpreters, catering, repairs, photography, and independent contractors
  • Payments to attorneys and lawyers
  • Honorarium and stipends
  • Rent
  • Payments to Foreign Nationals, including payments for visas
  • Payments for healthcare provided to an individual (unless this is reported as a research subject or necessary for work)
  • Reimbursements of any kind to a UW employee.  Please refer to eTravel or eReimbursement.

*Note* All payments made to research subjects are tax reportable.  Please click HERE for 1099 reporting requirements and due dates.


Documentation for the Revolving Fund Reconciliation

Below are the types of documentation that should be presented in a request for reimbursement of an advanced account:

Research Subject Payments

Payments to research subjects for participation or reimbursements associated with the study are allowable. Please do not include study participant names on you expenditure form. Campus departments are to keep the names and payments to individuals documented within their department based on your sponsor's requirements. For further questions, please see Research Subject Payments for further information.

Reimbursements Paid to Research Subjects

In order for an advance account to reimburse a research subject,  the individual must provide a valid original receipt for allowable expenses made with their personal funds. The vendor name must be stamped or printed on the receipt. The date, amount and description may be handwritten, if necessary. A receipt should include the following information:

  • Date
  • Place
  • Vendor Name
  • Amount
  • Description of items purchased
  • For receipts in languages other than English, a few words describing the expenditure
  • The receipt or invoice must be marked as "paid" or "$0.00" due
Key Deposits (discontinued)

Key deposit returns should be signed by the recipient showing that the deposit was returned.

Mileage for Research Subjects

Include a mileage log. Miscellaneous items purchased while traveling require receipts.  Please do not include the names of the study participants.

Accounting Programs

It is best to use a double entry accounting system such as Gnucash (which is free) or Quickbooks Simplestart.  Quickbooks SimpleStart allows for batch printing of checks. This may be preferred for a fund which experiences high volumes of check printing. 

Revolving Funds also has an Excel check register that may be helpful included in the Reconciliation Form(see below).  For questions, please email revfund@uw.edu.

Note: Single entry accounting systems should be avoided. Single entry systems make it difficult to find and prevent errors in accounting records.

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Increase/Decrease Your Revolving Fund

Increasing a Revolving Fund

The ideal balance for a revolving fund should be twice the average monthly expenditures. Depending on project activity, it may be determined that the advance amount should be permanently or temporarily increased or decreased.

Increase Revolving Fund Request

Decreasing a Revolving Fund via Spend Down

Please write "DO NOT REIMBURSE" in the comments field of the next 'reimbursement' request package. The spending will be recorded to a budget, but a reimbursement will not be processed.  This will reduce the amount of the revolving fund. 

Decreasing a Revolving Fund via Check

Write a check from the revolving fund account payable to the University of Washington. Send the check in the campus mail to Box 354967 with a memo requesting the check be used to reduce the fund.  Follow up with an email to revfund@uw.edu indicating a check is the mail. Do not include this check on a reimbursement request. 

*Note* Please write the check(s) within your check writing limit. For example, if your check writing limit is $500 and you are decreasing your balance by $2,000, you will be required to write four checks for $500 each.  If you do not know your check writing limit, please email revfund@uw.edu.  Checks written above the check writing limit will be returned by the bank.


Cancel, Void, Stop Payment or Stale Dated Check

 

Cancel the Check

A research subject has contacted you and states they did not receive their payment.

First, verify the check has not cleared your bank account.  Once that has been done, obtain a written request from the research subject stating why the check needs to be reissued and make a notation in your accounting records.  Cancel or put a stop payment on the check online with Wells Fargo or Bank of America. There is a fee associated for this service, refer to fees. Do not process a reimbursement for the replacement check if the canceled check has already been reimbursed.

 

Void a Check

A voided check is a check that you have in-hand and it has an error associated with it.  Write "Void" on the check across the payee line, the signature line and the amount box.  Keep a copy for audit records. 

 

Stop Payment

When placing a stop on a Research Subject incentive check, either contact revFund@uw.edu or utilize the online banking system.  If you need access to the online banking, contact bankrec@uw.edu for assistance.

DO NOT CONTACT THE BANK DIRECTLY TO PLACE THE STOP PAYMENT.  

 

Stale Dated Checks

A check that has not been cashed for 6+ months is considers to be stale dated.  Stale dated checks are to be reported through the stale dated process. Departments with revolving funds should review stale dated checks monthly.

Submit stale dated checks with information identifying the payee name and address in an Excel format file to revfund@uw.edu. 

Remember, do not ask for reimbursement of these checks as they were already reimbursed at the time the check was written.  Furthermore, Campus budgets are not credited back for payments that are considered to be stale dated as the payment is still due to the research subject. Stale dating checks is required by the State of Washington in conjunction with Unclaimed Property reporting.

 


Making Changes to the Existing Revolving Fund Account

Changes to Existing Account

Please use the link below to make changes to the following:

  • Account name
  • Account Assignments
    • Approver, Check Signers, Contact, Custodian, Reconciler, Auditor/Verifier
  • Check Writing Limits
  • Contact Information
Change Existing Revolving Fund Account