Business & Finance News Center

Preparing funds for deposit is a critical process that enhances operational efficiency, safeguards the University’s financial resources, and ensures timely and secure deposits. This guide outlines the required steps for Cash Handling Units when preparing currency, coins, and checks.

 Currency

1. Separate paper currency from checks and coins.
   
   
2. Sort all paper currency by denomination.
   
   
3. Straighten paper currency: place bills face up and facing the same direction.
   
   
4. Bundle cash and label all straps with your unit’s name and C-FOAPAL (Urbana-Champaign Cash Handling Units may provide the Department Deposit Form Reference Number in lieu of C-FOAPAL).
   • Currency straps may be ordered through iBuy.
     
     
5. Paper currency is to be bundled/strapped as follows:
   • $20s   –   $500
   • $10s   –   $500
   • $5s     –  $500
   • $1s     –  $50

 Coins

1. Separate coins from paper currency and checks.
   
   
2. Sort coins by denomination.
   
   
3. Roll coins and label all wrappers with your unit’s name and C-FOAPAL (Urbana-Champaign Cash Handling Units may provide the Department Deposit Form Reference Number in lieu of C-FOAPAL).  
   • Coin wrappers may be ordered through iBuy.
     
     
4. Coins are to be rolled as follows:
   • Quarter roll     –  $10.00
   • Dime roll         –  $5.00
   • Nickel roll       –  $2.00
   • Penny roll       –  $0.50
     
     
5. If you do not have enough coins to fill a coin wrapper, place them in a small envelope to prevent loss.

 Checks

1. Separate checks from paper currency and coins. Traveler’s checks, money orders, and Cashier’s Checks are processed the same as personal checks.
   • Foreign checks should only be accepted if greater than $200 and must be deposited on a separate Department Deposit Form for each foreign check.
     
     
2. Verify that the UIN of any student, faculty, or staff member is written on checks taken as payment.
   
   
3. Endorse each check with:
   • “For Deposit Only”
   • Unit Name
   • Unit C-FOAPAL (Urbana-Champaign Cash Handling Units may provide the Department Deposit Form Reference Number in lieu of C-FOAPAL)
     
     
4. List all checks on the Department Deposit Form.

Contact Information 

For questions, please contact our office:

• Chicago: BursarCashiersUIC@uillinois.edu
• Urbana-Champaign and Springfield: BursarCashiersUIUC@uillinois.edu.