Bursar Transition and New Deposit Process

As of 7/1/13

Special Handling Check Pick-Up

Morrill Hall Information Desk

Monday through Friday, 8:30 a.m. to 4:00 p.m.

Checks will normally be available after 1:30 p.m. on the day requested for pick-up.

  • Departments will receive notice from Disbursement Services when check is available for pick up.
  • The Information Desk will follow up with departments as necessary.
  • Checks not picked up within 2 weeks will be returned to Disbursement Services and mailed directly to the payee.
  • University Employee ID is required to pick up checks.
  • 624-6868- University Relations at Morrill Hall

EFS Deposit Coding and Details:

  • Bank = USBBK(US Bank)
  • Vault = 9311(Cash & General Funding Account)
  • Use a gold “Cash Only” bag for the drop

From = Department Name

To = US Bank

Account/Store Code = 9311

Said To Contain = amount of the drop

Prepared By = Name and Phone

  • Drop locations:

2-596 PWB (for all of East Bank)*

55 Heller Hall (for all of West Bank)*

107 Coffey Hall (for all of St. Paul)*

* (you will need to swipe your U of M id to access the drop box)

  • Obtain additional gold bags from the Office of Investments Banking (OIB)

OIB General Phone = 624-5558

OIB Contact =Noelle French (624-5558 or )

OIB Contact = Bonnie Anderson (625-9096 or b-ande1)

  • Discrepancies between the EFS deposit and drop amount received by the bank will be adjusted by the OIB on the EFS deposit transaction. If there are multiple chart strings on the deposit the adjustment will be applied to the first chart string even if the discrepancy pertains to a different chart string on the deposit. OIB expects departments to monitor and reconcile their deposits to see if any adjustments have been made.

Check Deposit

Send all checks with the EFS bar coded deposit form and any other supporting documentation you want imaged to the Medical School Cluster (April Wolters).

  • PWB 13-107
  • MMC 391

EFS Deposit Coding & Details:

If not a foreign currency check, check drawn on a foreign bank, or problematic check (see below)

  • Bank = WFBBK(Wells Fargo Bank)
  • Vault = 0033(Wells Fargo Bank Check & General Funding Account)

If a foreign currency check, check drawn on a foreign bank, or problematic check

  • Bank = VAULT(Vault Bank OIB)
  • Vault = V_IB(Cash on Hand OIB)
  • Problematic means the check is damaged and can’t be scanned in the cluster, not clear or illegible, etc. The cluster will adjust the coding on the EFS deposit to the above if necessary and send a revised bar code report to the preparer. If the preparer believes the check is or will be problematic they should use the above coding (and if it turns out not to be an issue the cluster will adjust the coding so the check will scan, deposit electronically, and send a revised bar code report to the preparer).

Stamp or sign the back of the checks before sending to the cluster (at a minimum write the submitting department name and deptid on the back of the check).

The cluster will stamp and sign the bar code report and send a copy to the preparer or make a copy (or bring two to the cluster) if the items are personally dropped off.

The cluster will take care of the deposit approval in EFS, disposal of electronically deposited checks after a three week retention, and physical drop of problematic checks to the OIB.