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Depositing UMB Funds
Deposit UMB Funds.
Operational Units (schools, divisions, departments, affiliates) receiving UMB Funds. UMB Funds include State appropriated general funds, tuition, fees, and other income, as well as auxiliary funds, revolving/discretionary funds, Designated Research Initiative Funds, gifts, contract or grant revenues, and other restricted funds.
In accordance with the Maryland State Education Code Ann. §12-105 all UMB Funds must be deposited in the State Treasury. UMB Funds are received from various income sources.
Sources of UMB income include, but are not limited to:
- Tuition and charges for UMB courses; whether or not the courses are taken to pursue a degree
- Student fees.
- Fees charged for the use of auxiliary facilities or generated through auxiliary operations; such as the student union, campus housing, parking operations, the athletic center, etc.
- Amounts received from government or private grants or contracts.
- Gifts or grants made expressly to UMB, a school, or an academic or administrative unit of UMB.
- Revenue generated from events such as conferences, lectures, seminars, presentations, and similar activities using UMB resources.
- Revenue generated by operations of health, human services, or legal clinics operating under the direction and management of UMB.
- Rents and charges for use of UMB space.
- Fines and penalties assessed by UMB for violations of campus rules and policies.
- Royalties, licensing fees, and similar payments received in consideration for the grant of rights to use the intellectual property owned by UMB.
- Refunds or rebates under UMB procurement contracts.
UMB income is the property of the State of Maryland. Accordingly, State regulations apply to the management, safekeeping, and disposition of UMB Funds.
Types of Transactions
Cash, Checks/Money Orders, and Credit Card Payments Received by a UMB Operational Unit
- Cash, check/money order, and credit card receipts are accepted at the Cashier’s Office during business hours.
- The Cashier’s Office is located at:
University of Maryland, Baltimore
Health Sciences and Human Services Library
601 W. Lombard Street, 2nd Floor
Baltimore, Maryland 21201
- Complete the Deposit Summary Form. Instructions for completing the form.
- Take the Deposit Summary Form and the funds to the Cashier’s Office for processing.
- The State of Maryland Banking Services Division processes electronic (e.g. wire transfers, ACH) transactions on behalf of UMB.
- Operational Units expecting funds from another agency via wire transfer or ACH should email the General Accounting Manager, Financial Services. Include the agency name, amount, and the chartstring that should be credited.
Employees who do not comply with this procedure may be subject to disciplinary action and/or criminal action. An Authorized Affiliate Employee who does not comply with this procedure may be subject to disciplinary action, lose the privilege of being an Authorized Affiliate Employee, and will have UMB fiscal authority terminated.
Exceptions to this Procedure must be approved in writing by the University Controller (UC) in Financial Services. All requests must be submitted to the UC using the Policy or Procedure Exception Request Form available on the Financial Services website. The request must be signed/e-mailed by the Department Head or designee.
Questions? Contact the Associate Controller, Financial Services at 410-706-2509.
- Promptly deposit monies received for UMB-related business activities into a bank account authorized by the State Treasurer’s Office in accordance with the State of Maryland General Accounting Division Procedures.
- Request assistance from the Cashier’s Office or the Associate Controller in Financial Services as needed.
- Promptly notify Financial Services – General Accounting with chartstring information when expecting an electronic payment.
Financial Services – Student Accounting: Cashier’s Office
- Promptly process deposits received from Operational Units.
- Assist Operational Units as needed.
Financial Services – General Accounting
- Promptly process electronic payments to the chartstring provided by the Operational Unit.
DEFINITIONS AND TERMS
Authorized Affiliate Employee - Person employed by an entity that has a relationship with UMB authorized by the Board of Regents or by law, e.g., faculty practice plan organizations, University of Maryland Baltimore Foundation (UMBF) and other affiliated foundations, recognized incorporated alumni associations, recognized affiliated business entities, University of Maryland Medical System/University of Maryland Medical Center, and other University System of Maryland institutions. An Authorized Affiliate Employee is responsible for the administration and reporting of UMB resources.
UMB Funds- All funds administered by UMB, regardless of fund source. UMB funds include State appropriated general funds, tuition, fees, and other income, as well as auxiliary funds, revolving/discretionary funds, Designated Research Initiative Funds, gifts, contract or grant revenues, and other restricted funds.