Section 10 - Cash Handling
Section 10.2 - Cash Collections and Deposits
Date: 9/25/06 — Approved: Finance Board
All money collected on campus for the AS from any source must be deposited with the AS cashier’s office. All receipts must be deposited intact. No part of any monies collected may be used to pay bills or expenses of any kind, nor may the monies be deposited elsewhere unless authorization has been received for the use of a bank depository or direct deposit to an A.S. bank account.
The Mission Bay Aquatic Center has received authorization to prepare and deposit money directly to the AS bank account.
CASH COLLECTION
Divisions authorized to collect money
Only those AS divisions approved in writing by the Controller or delegate, are authorized to collect or receive money for the AS whether from cash sales or from other sources. Once authorization is received, it is the division manager’s responsibility to designate employees who are authorized to handle money, and to see that they are properly instructed in the procedures to be followed. All individuals who are authorized in to collect and/or receive money must sign a Deposit Procedure Form and file it with the AS Cashier before starting the job.
Money received by unauthorized divisions
Money received through the mail by a division or individual not authorized to receive money, or money for other purposes received by divisions or individuals authorized to receive money from cash sales only, is to be immediately delivered to the Cashier in the Aztec ticket office, or if checks, they may be delivered to the AS Business Office, along with any pertinent information concerning its source and application.
Shortages
Any significant cash shortages (greater than $25) in collections must be reported immediately to the Controller. The division is responsible for explaining all shortages greater than $25 within a week of the occurrence.
Crime Insurance
All employees of the AS are covered by blanket employee dishonesty (crime) insurance. The AS maintains a high deductible per loss. Any settlement for losses resulting from the improper handling of cash on the part of an employee is reduced by the amount of the deductible. The deductible is charged to the division sustaining the loss. The AS reserves the right to seek reimbursement from any employee who the AS deems to have improperly safeguarded assets, or misused assets. In the event a division becomes aware of an event that may give rise to a claim under the AS's crime insurance policy, immediately contact the Controller.
Audits
Cash handling divisions are subject to an audit anytime by the AS Accounting Department.
DEPOSITS
All money deposited with AS cashier’s office is recorded on an approved cash report form or deposit ticket. The Controller approves and controls the development and printing of report forms for divisions authorized to collect cash.
COUNTERFEIT CURRENCY
It is the responsibility of all divisions authorized to receive cash to exercise reasonable care in screening cash transactions for counterfeit currency. The Controller determines and publishes any necessary procedures for handling counterfeit currency.
Need something else? Go back to the Table of Contents.
