The cash application group is responsible for the accurate and timely processing of incoming cash payments to the University’s main bank accounts. The group plays a central role in safeguarding university funds by ensuring that payments received—whether by check, ACH, wire transfer, credit card, or other approved methods—are promptly deposited, correctly applied, and fully reconciled in accordance with university policy and regulatory requirements.
Key responsibilities include receiving and recording payments from a wide range of sources, such as federal and non-federal sponsors, external customers, and partner institutions; applying cash to the appropriate accounts and invoices; resolving unapplied or misapplied payments; and performing reconciliations. The department works closely with campus units, banking partners, and central finance offices to ensure accurate cash application, timely resolution of discrepancies, and strong internal controls over cash handling processes.