November 22, 2013 —
In order to ensure proper custodianship and treatment of checks received by departments on sponsored accounts, we would like to remind everyone of the procedures that should be in place. Please read the following and if you have additional questions you can contact Marcia Quinta at 305-284-4023 and she will be happy to assist you.
Procedure for Department Receipt of Checks
University procedures require that all checks related to sponsored programs be processed through the Office of Research Administration’s lockbox. Sponsors should mail checks directly to the lockbox; however, if the check is mailed to the department or PI in error the individual receiving the check must mail the check directly to the lockbox along with all related correspondence within one business day of receipt (https://umshare.miami.edu/web/wda/policiesfinance/eefiles/e046_bank_deposits_timeliness.pdf).
All checks should be mailed directly to the ORA lockbox at:
University of Miami
Office of Research Administration
P.O. Box 405803
Atlanta, GA 30384-5803
For overnight mail address:
University of Miami – Office of Research Administration
6000 Feldwood Road
College Park, GA 30349
Please follow the guidelines below to maintain adequate internal controls:
- Transfer funds timely to the lockbox.
- The sooner the checks are deposited the less exposure to theft or loss of funds.
- Keep transfers of checks from person to person to a minimum. Accountability is lost when several people handle checks before it is deposited.
- Restrictively endorse checks immediately upon receipt with a stamp stating “For Deposit Only – University of Miami”.
- Keep checks in a locked and secure area until they are mailed to the lockbox. Access to the area should be restricted to only 2 people, one serving as a backup. If a person with custody responsibilities leaves their position, any keys should be collected or combinations changed.
- Remember that while checks are in your custody you are responsible for them.
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