Cash Management

Our responsibilities include managing daily cash flows and bank balances, maintaining electronic funds transfers, overseeing fraud control programs, and negotiating banking and financial services contracts. Our duties also include forecasting cash flow, consulting for internal business processes, and using banking services efficiently. We strive to provide modern, cost-effective financial services to university and system units by means of internal and external resources.

University of Illinois approved depository institutions are as follows:

  • Bank of America, Chicago, Illinois
  • Busey Bank, Urbana, Illinois
  • First Mid-Illinois Bank & Trust, Monticello, Illinois
  • JPMorgan Chase, Chicago, Illinois
  • U.S. Bank, Springfield, Illinois

Vendor Information Form

At times, the University of Illinois System provides goods and services to other parties, in effect acting as a vendor to an outside party.  As such, the system is occasionally asked by the outside party to complete its vendor information form or other forms relating to paying the system.  Units have been receiving more requests for completion of these forms.  If you receive a request for this type of information, please contact Cash Management.  This office will provide the required banking information and will work with other units as necessary to gather any additional information needed to complete the form.  Routing will include the Contract Services Office when forms contain terms and conditions, as sign off and approval of such terms and conditions must be reviewed and, potentially, negotiated.  As a reminder, receivables should be billed through Banner, unless an exception has been provided as outlined in OBFS policy section 5.5, Request an Exemption from Using Banner AR, located at:  https://www.obfs.uillinois.edu/bfpp/section-5-receivables/request-an-exemption-from-using-banner-ar.

 

For questions, please contact Cash Management at cashmgmt@uillinois.edu.