This knowledge base article explains the University of Chicago’s (UChicago) approved procedures for handling deposits in different forms. All UChicago funds must be deposited and recorded in Oracle, the university's financial system, immediately upon receipt.

 

The Central Accounts Receivable Office (Central A/R) is the University of Chicago’s main deposit management agent. WE DO NOT ACCEPT CASH.

Your deposit (negotiable instruments) must be paperclipped to a ROMR along with any applicable correspondence (DO NOT STAPLE) and routed to Central A/R in one of the following ways:

 

1. By U.S. Mail -

Regular Mail	Overnight Mail
University of Chicago Central Accounts Receivable Office PO Box 736157 Chicago, IL 60673-6157	JP Morgan Chase – Lockbox Processing Attn: Central AR LBX 736157 131 S. Dearborn, 6th Floor Chicago, IL 60603

 

2. Faculty Exchange - Use an interoffice envelope to send the deposit via faculty exchange to the Levi Building, 3N – Office 305E, Attention: Yolanda Peoples/Accounts Receivable.

 

3. Central A/R drop box - Located in the Drexel building lobby outside the glass office doors.

 

Note: All deposits received without a ROMR will be added to the Unidentified Funds Process.

 

If you have any questions, reach out to Yolanda Peoples, Director of Accounts Receivable, at yolandapeoples@uchicago.edu.

1. Cash – All cash and coin must be converted to a money order or cashier’s check by taking cash and coins to the local post office and converting it into a money order payable to The University of Chicago.

 

2. Negotiable instruments – a signed, written document that promises or orders the payment of a fixed amount of money and is freely transferable
   1. Checks
   2. Cashier’s Checks
   3. Money Orders
   4. Foreign checks are any checks not drawn on a U.S. Bank or that do not have a U.S. clearing bank listed on the check, even if the check is payable in U.S. funds. They may take 2–6 weeks to clear the bank. You must not receipt foreign funds into your financial system until the funds appear in your bank account at the value provided by the bank.

 

NOTE: The University of Chicago is transitioning to a cashless campus, with ACH as the preferred method for receiving funds. Your unit should implement processes to eliminate the use of checks, cash, and coins. Your department should be informing all check remitters of your dedicated bank account information. Instructions for Receiving a UChicago EFT (ACH/Wire) Deposit

The following entities have been assigned equipment that empowers them to process their deposits directly in all forms (checks, money orders, cashier’s checks, and ACH/Wire). Please reach out to your department’s financial team for further directions on the deposit process:

Department	Deposit Contact
Alumni Relations & Development (ARD)	gifts@uchicago.edu
Booth School of Business	AccountingHelp@chicagobooth.edu
Globus	accounting@globus.org
Polsky Center for Entrepreneurship and Innovation	accounting1@uchicago.edu
The University of Chicago Press	ucpbank@lists.uchicago.edu
University Research Administration (Sponsored Awards)	spon_award_acct@uchicago.edu
Urban Education Institute (UEI)	lgudek@uchicago.edu