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Policy and Procedure ManualChapter 330, Financial Management and Services Responsible Department: Accounting
and Financial Services See Section 330-55, Departmental Cashiering Operations--Policy Overview. Accountability for and documentation of the custody of cash must be maintained when transferring and depositing cash. II. Preparing and Transporting Deposits A. Current day collections of major cashiering stations must be deposited the same day, or at a minimum on the following business day, at a University depository bank. All bank deposits must be accompanied by appropriate documentation, such as a numbered deposit slip. B. Accumulated collections at subcashiering stations shall be deposited at the Main Cashier's Office or the UCDMC Cashier's Office at least weekly or whenever collections exceed $500. C. Deposits must be prepared with more than one person present or in an area that is equipped with an electronic surveillance system. D. The procedure of counting cash must not be visible from outside the office. E. Deposits shall be adequately safeguarded while in transit. 1. The UCD Police Department shall be requested to escort coin and currency deposits in excess of $3,000 and all special event deposits. 2. The Campus Cashiering Coordinator shall designate those subcashiering stations that will use commercial armored car service to transport recurring large deposits of coin and currency. III. Statement of Cash Collections A Statement of Cash Collections (SCC) must accompany each deposit to the Main Cashier's Office or the UCDMC Cashier's Office from a subcashiering station. A. Campus departments A DaFIS SCC must be prepared for each deposit. Two copies of each SCC must be printed and signed. 1. The remittance stub portion of one copy must accompany the deposit to the Main Cashier's Office. A breakdown of coin and currency must be included on the SCC. If more than one check is deposited, a tape listing the checks must be included. Deposits with coin and currency must be either delivered in person or by armored transport or dropped in the Main Cashier's Office night drop with appropriate security bags. 2. The initiator must indicate in the Explanation field on the DaFIS SCC document the handwritten cash receipt numbers and/or the cash register tape date associated with the deposit being made. 3. The second copy must be signed and supporting detail, such as cash register tapes, copies of handwritten receipts, and voids, shall be forwarded directly to Accounting & Financial Services--Internal Control by the subcashiering station on the day of the deposit. 4. Deposits over $5,000 to an Agency Account (AGENCY) or University Related Event Account (OTHUNIV, SSSOM1) must also forward supporting documentation showing the deposit amount, purpose, and intended use of the funds to Accounting & Financial Services--Internal Control on the day of the deposit. a. The deposit shall be placed in a "cash received undistributed" account until General Accounting validates the supporting documentation submitted with the funds to determine that the funds deposited are appropriately reported in those accounts. b. Following validation, the funds shall be transferred to the designated account listed on the SCC. 5. Subcashiering stations in departments must ensure numerical control of official cash receipt documents and should maintain records to explain missing receipts. 6. The major cashiering station must record each deposit from a subcashiering station. All cash deposits must be counted in dual custody. 7. Receipts for SCCs will be emailed to the preparer the evening of the deposit. The preparer will receive a written receipt for all deposits that contain currency. B. UCDMC departments A UCDMC Statement of Cash Collections and Receipts Issued (Calcode 71461-135), signed by the preparer to certify that the information is correct and true, must accompany each deposit to the UCDMC Cashier's Office from a subcashiering station. 1. A copy of this report and supporting details, such as cash register tapes, copies of handwritten receipts, and voids, must be forwarded directly to Accounting & Financial Services--Internal Control by the subcashiering station on the day of the deposit. 2. Subcashiering stations in departments must ensure numerical control of official cash receipt documents and maintain records to explain missing receipts. C. Over/short amounts 1. If the cash on hand does not equal the total of the handwritten cash receipts or the cash register tape, the initiator must record an over/short amount. This is accomplished by inserting an accounting line on the Statement of Cash Collections document and coding it as follows: [department COA/account]/0056 If a Statement of Cash Collections is out of balance when received by the Main Cashier's Office, the adjustment will be documented and forwarded to both the preparer and Internal Control by email. 2. Significant or recurring cash overages and shortages must be verified promptly. If misuse is suspected, follow procedures in Section 380-17. D. Sales tax collected If the department has collected sales tax, the amount must be recorded by inserting an accounting line on the DaFIS Statement of Cash Collections document and coding it as follows: Campus (Yolo County): 3/1155100/0510 UCDMC (Sacramento County): 3/1155110/0510 Contact Accounting & Financial Services--Tax Services (530-757-8936) for sales in other counties. Checks returned to the campus must be controlled during the process of attempting to collect on the returned amount. Accounting & Financial Services provides oversight over the returned check process. A. Checks that are deemed uncollectible are to be returned by the bank to Accounting & Financial Services. B. Cashiers must not be involved in the returned check process. C. The person who approves the requests for write-off of uncollectible returned checks must not maintain the inventory of returned checks. D. A returned check must be redeemed either by a new payment or if appropriate by redepositing the returned check. E. The person maintaining the inventory of returned checks must not handle the cash received to redeem returned checks. F. No one person from the same office may perform more than one of the above functions. G. Physical security and accountability for returned checks must be maintained from the time of receipt until final disposition. Copyright © 2006 The Regents of the
University of California, Davis Campus. All Rights Reserved. |
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