Number: 
03-110-209
Type: 
Rule
Policy Steward: 
Director of FA&A
Format Updated: 
University Policy & Standards Converted: 
Status: 
Current
Revision Date: 
Monday, October 25, 2010

This information replaces FIS 102-07 Refundable Deposits

 

102-07 Refundable Deposits

Refundable deposits include deposits for Horse Center space rental, rental units of the Agricultural Experiment Stations, and Facilities Services key deposit.

Deposits should not show as revenue. The amount received should be posted to the Fund and Account B4xxx. This is a liability account that shows the money does not belong to the University. This account code does not have to be at a zero balance at the end of the fiscal year.

When refunding a deposit, charge the same Fund and Acct B4xxx. If the complete amount is not refunded, a JV will need to be completed to move the unreturned amount into revenue (i.e. 06993 Deposits).