Effective Date: October 27, 2006 Latest Revision: July 9, 2012
Effective Date: October 27, 2006
Latest Revision: July 9, 2012
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
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
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.
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