Cash Handling for Student Groups

1
Cash Handling for Student Groups Organizations

• An exercise in ensuring fiscal responsibility of
  College resources

2
What is a cash item?

• A cash item is any of the following
• Currency
• Coins
• Checks
• Cashiers Checks
• Money Orders
• Travelers Checks

3
Basic Rules for Cash

• All cash items received must be recorded and
  immediately deposited as follows
• Deposit within 24 hours if total receipts exceed
  200.
• Weekly deposit is required for total receipts of
  less than 200. (Unless instructed by the
  Comptrollers Office to deposit more frequently)

4
Proper Storage

• Items must be properly secured preferably in a
  departmental safe or in a locked file cabinet,
  desk, or cash box

5
How to prepare your deposit

• Put currency in order by denomination (Smallest
  to Largest) with adding machine tape attached of
  total amount of cash and coins
• Checks need to be added twice with adding machine
  tape and included in deposit for accuracy
• If you need currency or coin wrappers check with
  the Cashiers Office

6
Receipt and Deposit of Cash Items

• Restrictively endorse checks immediately upon
  receipt
• Issue a receipt for every currency transaction
  and for checks if possible.
• Ensure all transfers of cash items between
  persons and the Cashiers Office are documented

7
Making your deposits

• Take all deposits to the Cashiers Office by 430
  PM
• Do not take your deposit directly to the bank
  yourself. The cashiers office is the ONLY
  designated place where deposits can be made.
• College related business MUST be run through the
  colleges cashiers office.
• No checking accounts using the colleges name or
  tax identification number are allowed under any
  circumstances.

8
Some Dos and Donts

• Dont send currency or coin through campus mail
• Dont make disbursements from deposit receipts
• Do limit access to cash items to the minimum
  number of people
• Dont mix college and personal funds
• Dont make stops, layovers or take funds home
  with you when depositing

9
Accepting Checks

• Counter check (new accounts) make sure proper
  identification is on the check- Name, Mailing
  Address, Phone Number
• Make sure check has been properly signed and
  filled out correctly
• Verify numerical amount and written amount are
  the same and in the acceptable format
• All checks must be made payable to UVA-Wise
  (Include Organization or Group Name)
• Example- UVA Wise RHA
• The college DOES NOT accept credit card checks
  under any circumstance

10
Endorsing Checks

• All college depositors must restrict the
  placement of all endorsements either written or
  stamped to within 1 ½ inches of the trailing edge
  of the back of the check
• Endorse all checks For Deposit Only University of
  Virginias College at Wise.

11
For additional help

• For help with deposits contact Katherine Stallard
  at ks3c_at_uvawise.edu or at 328-0108
• For help with accounts contact Natasha Papuckoski
  nkh4s_at_uvawise.edu or at 376-4675

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Questions ? ? ?