The Bursar's Office is charged with the responsibility
of receiving, safeguarding, and depositing all funds due to Northern
Window service at the Bursar's Office is offered
between the hours of 8:15 a.m. to 4:00 p.m.
Deposits to University Accounts
Receipts are to be deposited daily with the Bursar's Office or an
authorized depository bank. Departments depositing with the
Bursar’s Office must complete/print the Departmental Deposit Form
and bring it with the deposit to the Cashiering Office. Required information on the form includes name, phone number and signature of the department representative that prepares the deposit. If the volume of
receipts does not warrant a daily deposit, receipts should be deposited
no later than 5 business days after receipt or when they amount to
$500.00, whichever comes first.
For departments/offices located at our regional centers (Rockford,
Hoffman Estates, and Naperville) deposits will be considered timely if
they are made using the next available courier – courier service to
the DeKalb campus is made twice a week.
If large deposits are anticipated, arrangements should be made to
have the deposits brought to the Bursar’s Office on a non-scheduled
courier day. Delaying deposits may
compromise internal controls, leading to potential loss. If funds are not
deposited daily, they should be secured in a locked, fireproof cabinet.
All deposits to university accounts must be made at the
Bursar’s Office or an authorized depository bank. The
university will not accept the responsibility for loss or discrepancies
in deposits sent through the mail. All checks should be restrictively
endorsed ("For Deposit Only, Northern Illinois
and deposited in a timely manner so they do not become stale. A stale check is one submitted past the
date after which the check states it is void, or six months after the
date of the check, whichever comes first.
All deposits should be accompanied by a detailed list of checks
and currency with the total deposit indicated.
Cashiers receiving deposits will accept and process all deposits
regardless of their timeliness and will report to the Associate Bursar or
Bursar any department which has delivered an untimely deposit (i.e.,
payments the university can determine were held longer than the time
prescribed above) and/or stale checks for deposit. In turn, notification will be sent to
the department head of the initial failure to comply with the timely
deposit policy. Any repeat
violation from that department will result in a second notice that brings
the matter to the attention of appropriate management for the area to
provide correction to the problem.
The university’s Internal Auditor is also notified at this
point. The university president
will receive notification from the Internal Auditor.
Sometimes checks which were tendered in payment by individuals or
were deposited by departments are returned by the bank for a variety of
reasons. The Bursar makes a concerted effort to collect the amount of the
original check and, as authorized by the university, charges a service
fee of $25.00. If funds are not collected, the account originally
credited is charged for the amount of the returned check.
Fee Collection at Off-Campus Locations
If fees are collected at locations distant from the DeKalb campus
and it is not possible to deposit income with the university in
accordance with university policy, the cash income received should be
converted into a cashier's check (or similar instrument) made payable to
"Northern Illinois University". This check, and other checks
and money orders received from registrants, are to be deposited with the
Bursar's Office on the next business day in compliance with requirements
summarized under "Deposits to University Accounts."