Accounting Administrative Procedure – FIN 6.10.01
FIN 6.10.01 Deposits
To ensure adequate chain of custody of City cash and checks, bureaus shall use one or more of the following options to make deposit of cash and checks received. Deposits include US dollar denominated coin, currency, and checks. Checks include personal checks, business checks, certified checks, cashiers’ checks, and money orders.
Deposit Options for City Bureaus
#1 Bureaus deliver deposits to Treasury
- Treasury is located in The Portland Building, 1120 SW 5th Ave., 12th Floor, Portland, OR 97204. Office hours are from 8:00 am to 5:00 pm PST. When arriving at the front desk, please ask the receptionist to call for deposit service. A member of our staff will meet you at the counter.
- Deposits brought to Treasury by 2:00 pm will be delivered to the bank the same business day.
- Deposits brought to Treasury after 2:00 pm will be kept in the PF&T safe and deposited the next business day.
- Bureaus must deliver deposits to Treasury in person. Do not send deposits through inter-office mail as it weakens the assurance of chain of custody.
- Bureau staff must either bring a screen print of the journal entry (J/E) document from SAP that posts the deposit to the appropriate GL account or write the J/E document number directly onto the deposit slip(s).
- Treasury staff will validate the deposit(s). Both the bureau employee and the Treasury staff will sign a deposit log as a record of the transaction. Do not leave deposits unattended in mailboxes or with any non-Treasury personnel.
#2 Bureaus deliver deposits directly to a PF&T-approved bank branch
Treasury can assist bureaus in locating an approved bank branch that accepts City deposits.
#3 Bureaus have deposits delivered to an approved bank branch via an approved armored carrier
Bureaus whose locations prohibit deposit delivery to Treasury or directly to a bank branch can request Treasury assistance for contracting with an armored carrier service.
#4 Bureaus make deposits by electronic processing (checks only)
Bureaus that primarily receive checks can request Treasury assistance in purchasing desktop check scanners. Note: This is not an option for deposits of coin or currency.
- Treasury encourages bureau staff to verify their deposits the next business day by using SAP t-code FF_6.
- Treasury is responsible for ordering all banking supplies needed by the City. Please call Treasury if you have a need for deposit books, deposit bags, and related supplies.
- Treasury staff is available to consult with bureaus seeking help understanding the City’s Comprehensive Financial Management Policies and Accounting Administrative Rules, and to provide research assistance regarding all bank-related activity.