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Cash & Check Handling


Effective Date: October 27, 2006

Latest Revision: July 9, 2012

Policy Statement

This policy sets requirements for the collection and secure processing of coin, currency, checks, e-checks, cashier's checks, traveler's checks and money orders ("cash").  The processing of cash includes receiving, depositing, recording and reconciling for both US and non-US cash transactions.

Reason for the Policy

The establishment of controls regarding cash is necessary to ensure that all cash collected is properly handled and to safeguard against loss.

Responsible University Office

Office of the Treasurer

Revision History

This policy was established October 27, 2006

This policy was last updated July 9, 2012

Who is Governed by This Policy

This policy applies to all individuals, schools, departments, centers, institutes, and programs ("Departments") that accept donations or sell goods, services, or information, and collect cash as a form of payment. 

Who Should Know This Policy

Departments that receive, deposit and reconcile cash are required to know this policy. 

Exclusions & Special Situations

Bonding Requirements

Employees must be eligible to be bonded by the University insurer to handle cash. The University's insurance covers all full-time, part-time, and casual employees, as well as students, volunteers, and contractors that are either being paid to perform work normally conducted by a University employee or participating in a University sanctioned project or activity. The policy automatically discontinues coverage for a particular individual if such individual was previously convicted or admitted to theft, fraud, robbery, forgery, computer crime, and dishonesty.

For complete text of this policy click here.