CASH HANDLING

1
CASH HANDLING DEPARTMENT DEPOSITS

• Linda Hawk, Director of SFS
• September 17, 2004

2
INTRODUCTION

• STRONG INTERNAL CONTROLS
• Prevent mishandling of state funds
• Designed to safeguard and protect employee from
  potential liability of mishandling funds by
  defining responsibilities.

3
INTRODUCTION- contd

• Approval Required
• Approval from the Director of Student Financial
  Services or Associate Vice President, FaBS
• Department to be designated at Cash Collection
  Department
• Infrequent cash collection departments shall
  abide by same Cash Handling Policies Procedures

4
WHO SHOULD KNOW ABOUT THIS POLICY?

• Individuals with responsibilities for managing
  cash receipts for University related activities
• University official
• Administrator
• Employees entrusted with
• Receipt
• Deposit
• Reconciliation

5
DEFINITION

• Cash is defined as coin, currency, checks and
  credit card transactions.

6
ESTABLISHING CASH COLLECTION APPROVAL

• Approval Required
• Linda Hawk, Director of Student Financial
  Services or
• Shirley Brady, Interim Associate Vice President
  of Finance and Business Services

7
ESTABLISHING CASH COLLECTION APPROVAL- contd

• Written Request
• Why?
• Reason cash collection point is needed.
• Who?
• Positions involved in cash handling.
• Description of duties.
• Segregation of duties maintenance.

8
ESTABLISHING CASH COLLECTION APPROVAL- contd

• Written Request- contd
• What?
• Reconciliation process description.
• Frequency of reconciliation
• Deposit schedule

9
PROCEDURES

• Cash Handling
• Recording Required of Cash Received by cash
  register or duplicate pre-numbered receipts
• Checks made payable to Cal State San Marcos
  endorsed immediately

10
PROCEDURES

• Clear separation of duties maintenance required
• Collecting
• Depositing
• Reconciling

11
PROCEDURES

• Daily Reconciliations or End of Shift
  Reconciliations
• All cash to be safeguarded with authorized
  personnel restrictions

12
PROCEDURES

• Cash Handling- contd
• Refunds/Expenditures paid by University
  generated check (Accounts Payable)

13
PROCEDURES

• Deposits
• gt500 Deposit required within 24 hrs of
  collection
• lt 500 Deposit required within 3 business days

14
PROCEDURES

• Deposits are not to be intermingled or
  substituted with other funds
• Receipt of Deposit provided by University
  Cashiers

15
IMPORTANT RESOURCES
Online Forms

• Cash Handling Policy
• http//lynx.csusm.edu/policies/policy_online.asp?I
  D130
• Cash Collection Establishment Form
• http//www.csusm.edu/fbs/online_forms.htmC
• State Deposit Form
• http//www.csusm.edu/fbs/online_forms.htmS

16
IMPORTANT RESOURCES

• Linda Hawk, Director of Student Financial
  Services
• Email lhawk_at_csusm.edu
• Phone x4482
• Paul Tiglao, University Cashiers
• Email ptiglao_at_csusm.edu
• Phone x4494

17
STUDENT FINANCIAL SERVICES

• ACCOUNTS RECEIVABLE
• FINANCIAL AID BUSINESS OFFICE
• UNIVERSITY CASHIERS
• CRAVEN HALL 3107/8
• SFS_at_CSUSM.EDU
• X4490

Contact Info
18
THANK YOU!