Office of the Bursar

Short Term Advances ("Change Funds")

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Title: Short Term Advances (“Change Funds”)
Policy Owner: Office of the Bursar
Applies to: Faculty, Staff
Campus Applicability: Storrs and Regional Campuses
Approval Date: August 8, 2025
Effective Date: August 8, 2025
For More Information, Contact: Office of the Bursar
Contact Information: cashoperations@uconn.edu
Official Website: https://bursar.uconn.edu/departments/cash-operations/

PURPOSE

To establish a uniform controls for providing Short Term Advances to departments in conjunction with University events to ensure safeguard University assets.

APPLIES TO

This policy applies to departments seeking a Short Term Advance.

DEFINITIONS

Short Term Advance: An advance of funds issued for a period of two weeks or less for the purpose of making change for cash payments for a specified University event

POLICY STATEMENT

The Office of the Bursar has sole responsibility for issuing Short Term Advances to departments.  University departments who receive Short Term Advances are responsible for returning the funds no later than two weeks after the date of receipt of the funds.  Any department who receives a Short Term Advance is required to adhere to controls and reconciliation processes established by the Office of the Bursar.

ENFORCEMENT

Any department that does not comply with this policy shall be ineligible to receive future Short Term Advances.  Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University By-Laws, General Rules of Conduct for All University Employees, and applicable collective bargaining agreements.

PROCEDURES

Short Term Advances must be requested through the Office of the Bursar Cash Operations webform.  Departments must follow the procedures for safeguarding and reconciling funds as outlined on the Office of the Bursar Cash Operations website.

REFERENCES

Office of the Bursar Cash Operations website

POLICY HISTORY

Policy created: 8/18/2014

Revisions: 08/08/2025 (Approved by Senior Policy Council)

 

Returned Check Policy

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Title: Returned Check Policy
Policy Owner: Office of the Bursar
Applies to: Faculty, Staff, and Payors
Campus Applicability: Storrs and Regional Campuses
Approval Date: September 29, 2025
Effective Date: September 29, 2025
For More Information, Contact: Office of the Bursar
Contact Information: 860-486-4830
Official Website: https://bursar.uconn.edu/

PURPOSE

To ensure compliance with Section 4 of the State of Connecticut Office of the State Comptroller Accounting Manual for Receipts regarding processing and accounting for returned Checks.

APPLIES TO

This policy applies to all departments that receive check payments on behalf of the University, and to all payors, including students and external customers, who submit payments to the University for goods and/or services.

DEFINITIONS

Check: A personal paper check or a personal electronic check (“e-check”).

POLICY STATEMENT

Checks deposited by the University that are returned by the bank due to insufficient funds or other reasons are the responsibility of the depositing department to resolve, including the collection of funds still owed to the University.  The department or payor will be charged for the amount of the returned check, including any applicable bank fees.

For fee bill payments, the University’s payment processor may charge student payors a fee for any Check returned by the bank for insufficient funds. The Office of the Bursar reserves the right to block a student with returned Check payments from using that payment method in the future, requiring payment instead by money order, certified cashier’s check, credit card, or wire payment.

For all other returned Checks, the department has the discretion to accept or reject future Check payments from the payor.

ENFORCEMENT

Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University By-Laws, General Rules of Conduct for All University Employees, applicable collective bargaining agreements, and the University of Connecticut Student Code.

PROCEDURES

The Office of the Bursar Cash Operations unit is notified by the bank if a Check is returned to the University. Cash Operations sends the notification to the appropriate depositing department. It is the department’s responsibility to submit the appropriate entry in the general ledger system to reflect the returned payment. Cash Operations approves the entry based on the debit to the University’s bank account.

REFERENCES

State of Connecticut Office of the Comptroller Accounting Manual, Receipts, Section 4

POLICY HISTORY

Policy created: 08/19/2014

Revisions:

01/24/2022 (Reviewed with updates only to the Procedures)

09/29/2025 (Approved by the University’s Senior Policy Council and President)

Opening a Merchant Account for Credit Card Acceptance

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Title: Opening a Merchant Account for Credit Card Acceptance
Policy Owner: Office of the Bursar
Applies to: Faculty, Staff
Campus Applicability: Storrs and Regional Campuses
Approval Date: September 29, 2025
Effective Date: September 29, 2025
For More Information, Contact: Office of the Bursar Cash Operations
Contact Information: cashoperations@uconn.edu
Official Website: https://bursar.uconn.edu/departments/cash-operations/

PURPOSE

To ensure University compliance with the Payment Card Industry Data Security Standards (PCI DSS) found at www.pcisecuritystandards.org.

APPLIES TO

This policy applies to any department requesting a merchant account to accommodate customers who want to pay by credit or debit card, and the University’s centralized eCommerce system cannot meet their needs.

DEFINITIONS

Payment Card Industry Data Security Standards: PCI DSS are technical and operational requirements set by the Payment Card Industry Security Standards Council to protect cardholder data. The standards globally govern all merchants and organizations that store, process, or transmit this data – with new requirements for software developers and manufacturers of applications and devices used in those transactions. Compliance with the PCI DSS is mandatory for their respective stakeholders, and is enforced by the major payment card brands who established the Council: American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa Inc.

POLICY STATEMENT

Credit card transactions are monetary transactions and therefore are subject to the same control and reconciliation policies as cash transactions. No department may open a merchant account to accept credit card transactions without the approval of the Controller and Bursar.

New merchant accounts must be opened through Office of the Bursar and receive Controller approval.  Merchant accounts will only be approved if the University’s centralized eCommerce system cannot meet the needs of the requesting department.  All University approved accounts must adhere to the PCI DSS including the performance of the Self-Assessment Questionnaire (SAQ), annual attestation, and successful University computer and network scans, as applicable.

ENFORCEMENT

The Office of the Controller may at any time terminate the department’s merchant account for a policy/procedure violation. In addition, payment card industry compliance violations may result in fines from the payment brands (VISA, MasterCard, Discover, American Express, JCB, BC Card, DinaCard and Diner’s Club) to the acquiring bank, at their discretion, from $5,000 to $100,000 per month which may be charged back to the department in noncompliance. Fines are dependent on volume of credit cards breached and remediation efforts required.

Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University Laws and By-Laws, General Rules of Conduct for All University Employees, applicable collective bargaining agreements, and the University of Connecticut Student Conduct Code.

PROCEDURES/FORMS

Detailed procedures and resource documents may be found on the Office of the Bursar website at: https://bursar.uconn.edu/cash-operations/ .  

POLICY HISTORY

Created: 08/19/2014

Reviewed with no revisions: 01/14/2022

Revised: 09/29/2025 (Approved by the University’s Senior Policy Council and President)

Non-Student Receivables Invoicing Policy

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Title: Non-Student Receivables Invoicing Policy
Policy Owner: Office of the Bursar
Applies to: Faculty, Staff
Campus Applicability: Storrs and Regional Campuses
Approval Date: August 8, 2025
Effective Date: August 8, 2025
For More Information, Contact: Office of the Bursar
Contact Information: 860-486-5995
Official Website: https://bursar.uconn.edu/departments/accounts-receivable/

PURPOSE

University departments provide goods and/or services to the general public and organizations world-wide.  In accordance with the State of Connecticut Office of the State Comptroller Management of Receivables, it is the responsibility of the University to invoice customers and notify them of their financial obligation to the University.

APPLIES TO

This policy applies to departments, faculty, and staff that provide goods and/or services to customers on credit.

POLICY STATEMENT

University departments and units must invoice customers at the time goods and/or services are rendered using the Kuali Financial System (KFS).  The Office of the Bursar may grant exceptions to this policy after assessing the department or unit’s alternative billing methods for adherence to proper internal control procedures.

ENFORCEMENT

Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University Laws and By-Laws, General Rules of Conduct for All University Employees, and applicable collective bargaining agreements.

PROCEDURES

For additional information, access the KFS Cash and Accounts Receivable Procedure Guide at: https://bursar.uconn.edu/departments/accounts-receivable/.

REFERENCES

State of Connecticut Office of the State Comptroller Management of Receivables

POLICY HISTORY

Policy created: 08/18/2014

Revisions:
08/08/2025 (Approved by the Senior Policy Council)
01/24/2022 (Editorial revision)

 

Cash Collection and Deposit

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Title: Cash Collection and Deposit
Policy Owner: Office of the Bursar
Applies to: Faculty, Staff
Campus Applicability: Storrs and Regional Campuses
Approval Date: August 8, 2025
Effective Date: August 8, 2025
For More Information, Contact: Office of the Bursar
Contact Information: cashoperations@uconn.edu
Official Website: https://bursar.uconn.edu/departments/cash-operations/

PURPOSE

To ensure compliance with Title 4 Chapter 47 Section 4-32 of the Connecticut General Statutes for accounting and depositing of any Cash received by the University.

APPLIES TO

This policy applies to any University department receiving Cash.

DEFINITIONS

Cash: Includes currency, checks, money orders, electronic payments, and all other negotiable instruments.

POLICY STATEMENT

Any department or unit at the University receiving Cash must deposit funds within 24 hours of receipt if the total amount is $500 or more; lesser amounts may be held until total receipts reach $500 but not for a period of more than seven calendar days.  All cash must be deposited into a University bank account.  Funds must be accounted for daily in the University’s general ledger system, regardless of total amount collected.

Any missing funds must be immediately reported to the University Police Department and the Office of the Controller. The results of the investigation will determine the subsequent actions. See also the Policy on the Prevention and Reporting of Fraud and Fiscal Irregularities.

ENFORCEMENT

Violations of this policy and any related procedures may result in appropriate disciplinary measures in accordance with University By-Laws, General Rules of Conduct for All University Employees, and applicable collective bargaining agreements.

PROCEDURES

Consult the Cash Operations and Accounts Receivable procedures in KnowledgeBase for proper cash handling controls for your department. Additional information is available on the Office of the Bursar website.

REFERENCES

Connecticut General State Statute Title 4 Chapter 47 Section 4-32. State Revenue Accounting

POLICY HISTORY

Revisions:
08/08/2025 (Approved by the Senior Policy Council)
01/14/2022
08/19/2014