Undistributed ACH & Wire Deposits

On a daily basis UCSB receives both international and domestic funds in the form of Automated Clearing House credits (ACH) and wire transfers. These funds are deposited into UCSB's Bank of America account #xxxxxxx030 and recorded in the UCSB General Ledger (GL) in Account 110080 (Main Depository). Funds are often intended for campus departments, and recipient departments often do not know when their funds may be deposited into the campus bank account.

Unclaimed ACH/Wire deposits (except for those identified as Extramural Funds deposits) are credited to GL Account 116019 Cash Received Undistributed on a regular basis as part of the reconciliation of the Main Depository Account.

Guidelines & Process

To assist departments in identifying their funds, the General Accounting team uploads undistributed ACH and wire deposit bank details to the Undistributed ACH and Wire Deposits list on an ongoing basis. Access to this secure list is given to campus fiscal officers, who can then claim funds by notifying General Accounting. Contact General Accounting for access to the list.

Claiming CRU Funds

Unclaimed Deposits are recorded on a Google spreadsheet that can be accessed by campus departmental business officers who have been granted security permissions. Business officers will fill out the CRU Claim Form with the appropriate general ledger chart string to receive the revenue credit. The Cash Handling and Banking Services team will prepare a financial journal to transfer the funds to your department. The Google spreadsheet is updated weekly.

To claim a wire transfer or ACH payment, access the Google spreadsheet, locate the payment, and fill out the CRU Claim Form link located at the top of the spreadsheet. Allow up to 10 business day for the journal to be processed.

Electronic payments that are not claimed timely may be returned to the sender.

For access to the Google spreadsheet, email your name, payroll job title, and campus department to bfs-bankwires@ucsb.edu.

Unclaimed CRU Funds After Two Years

Unclaimed ACH/Wire payments will remain on GL Account 116019 and be listed in the Undistributed ACH and Wire Deposits List for 24 months. When an ACH/Wire item is identified, the department is to notify the BFS-Bankwires team and provide the appropriate FAU (Financial Accounting Unit) to credit for the financial journal. BFS will submit these journals. This time frame allows a minimum of 2 years for departments to identify/claim funds received by UCSB and properly record them.

The BFS team actively works across the campus on an ongoing basis to identify potential recipient departments.

Requests relating to unreceived Extramural Funds deposits, including gifts, should be directed to Extramural Fund Accounting.