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CR-370
CASH RECEIPTS
370.1 UNIT DEPOSITING PROCEDURES
370.2 GENERAL INTERNAL POLICIES RELATING TO THE CASHIER
370.3 TIMELY DEPOSITS
370.4 PREPARING THE BANK DEPOSIT
370.5 CASHIER’S CHANGE FUND POLICY AND PROCEDURES
370.6 SECURITY OF VAULT AREA & SAFES
370.7 COMBINATION/KEY(S) FOR SAFE
370.8 CHECK ACCEPTANCE PROCEDURES
370.9 RETURNED CHECK PROCESSING
370.10 COUNTERFEIT CURRENCY
370.11 SEPARATION OF RESPONSIBILITIES
370.12 RECORDING TO THE GENERAL LEDGER
370.13 GIFT PROCESSING & ANNUAL FUND DEPOSITS
APPENDICES
370-A Deposit Log
370-B Deposit Transmittal
370-C Cashier’s Daily Vault Cash Count Form
370-D Deposit Slip
370-E Cash Receipt
370-F Courier Log
370-G Coin Order Form
370-H Change Order Form
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370.1 UNIT DEPOSITING PROCEDURES
A. Policy
The Foundation CFO has the responsibility for reviewing the procedures for
proper accountability of cash receipts. A variation from established procedures
requires the prior approval of the CFO.
All units must document the deposit of cash and negotiables by obtaining a
receipt or copy of the Deposit Slip (Appendix 370-D) that indicates the date,
amount and initials of the person making the deposit. Enterprise deposits
brought to the vault by the units themselves are to be documented in the cashier’s
Deposit Log (Appendix 370-A) by both the depositor and the cashier. Deposits
delivered by 3rd party vendor (i.e. Dunbar) are documented by the copy of the
Courier Log (Appendix 370-F). The Bookstore deposits are picked up by the 3rd
party vendor and taken directly to the bank. The Bookstore follows all other
procedures covered in this document.
B. Procedures for Depositing Counted Monies
Counted deposits are those that have been counted by the depositing unit prior
to being turned in to the Foundation Cashier. These are normally receipts from
cash register sales and consist of cash, checks, and credit cards. Enterprise
operations deposit the counted drawer drops. These deposits will be made in
the following manner:
1. The deposit is compiled as follows:
a. It should be verified that the Deposit Transmittals (Appendix 370-B)
have: a signature, the date of sales , project name and number,
and amount .
b. The cash bag must be sealed when received from the units by the
vault cashier.
2. The money is deposited as follows:
a. 3rd party vendor picks up cash bags from various unit locations and
transports them to the Foundation.
b. The deposits transported to the vault by 3rd party vendor are
documented by the Courier Log (Appendix 370-F). Each unit has
their own record book. Deposits brought down individually will be
entered into the logbook and signed by the cashier and depositor.
c. Deposits are counted. Any corrections to the deposit transmittal should
be noted, with an additional explanation made in the “Accounting Use
Only” block on the transmittal.
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d. Foundation Accounting will notify the depositing unit of the actual
deposit amount by cash receipt, or if discrepancy is noted, by email.
3. The Unit’s deposit bags are opened and counted as follows:
a. The currency and coin are counted by the cashier, supervisor or
appointed administrative employee and listed on the Deposit
Transmittal by denomination.
b. The deposit is totaled on the Deposit Slip and submitted with the deposit
in a sealed bag to the Foundation by a 3rd party vendor, & transported to
the bank.
c. The Bookstore deposits are transported directly to the bank by the 3rd party
vendor.
4. The over or short amounts are determined as follows:
a. The cashier opens the bags and counts the monies. The cashiers’ counts
are compared to the Deposit Transmittal.
b. In cases where the vault cashier discovers a discrepancy of $25.00
or more the vault cashier will immediately notify the department’s
unit manager & Manager of Enterprise Accounting of the discrepancy.
c. In cases where the Bookstore’s accounting technician discovers a
discrepancy and if the variance is $25.00 or more, the discrepancy
should be researched and the Bookstore Director and the Manager of
Enterprise Accounting should be notified. The reason for the variance
should be noted on the bookstore’s deposit report.
d. Any variances in cash of $50.00 or more must be reported immediately
to one of the following: Executive Director or Chief Financial Officer.
e. In compliance with Executive Order No. 813 any actual or suspected
theft, defalcation, fraud or irregularities, must be reported by the
next business day to the following: Executive Director or Chief
Financial Officer.
370.2 GENERAL INTERNAL POLICIES RELATING TO THE CASHIER
The Cashier’s vault change fund will be counted daily before the Cashier leaves at the
end of the day, and verified by the Manager of Enterprise Accounting or their designee.
The count and verification are documented on the Cashier’s Daily Vault Cash Count Form
(Appendix 370-C).
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Monies received will be deposited within one working day after receipt by the Cashier.
370.3 TIMELY DEPOSITS
The Foundation Vault Cashier may receive deposits in several different ways depending
on the type of unit operation. In each case, however, accountability and documentation
must be maintained. The appropriate method in which deposits are received and the
corresponding Cashier procedures are as follows:
A. 3rd party vendor delivers directly from Enterprise Units.
1. A completed Deposit Transmittal form must be with the deposits.
B. Cashier receives deposit from a non-enterprise unit:
1. The depositor presents the deposit slip and funds to the vault cashier.
(Appendix 370-D)
2. The cashier verifies the funds and gives or emails the depositor a cash
receipt. (Appendix 370-E)
C. All departments collecting monies on behalf of the Foundation must deposit the funds
in a timely manner, as follows:
1. Units receiving more than $500.00 per day in cash, check or credit card
receipts are required to bring their deposits to the Foundation cashier, the next
business day or picked up per 3rd party vendor’s transport schedule.
2. Units receiving less than $500.00 per day in cash, check or credit card
receipt are required to bring their deposits when they accumulate $500.00, or
weekly, whichever comes first, to the Foundation Cashier.
3. Units are required to deposit all cash, checks and credit card receipt at least
weekly, regardless of the amount collected.
4. If the staff fails to meet any of the above criteria, the Foundation Accounts
Specialist will notify the unit’s manager/staff via email with a CC: to the
Manager of Enterprise Accounting and Unit Director.
If the delay in depositing funds continues, the Unit Director will be notified,
with a CC: to the Chief Financial Officer, Executive Director, Manager of
Enterprise Accounting and Dean (Vice President for Academic Affairs or
Administrative Affairs if applicable).
If the delay in depositing funds still continues, a meeting will be held with the
Unit Director(s), Chief Financial Officer, Manager of Enterprise
Accounting, and Dean (Vice President for Academic Affairs or
Administrative Affairs if applicable) to discuss and resolve the issue.
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5. Under no circumstances are deposits to be forwarded to the Foundation Vault
Cashier’s Office through Campus mail.
370.4 PREPARING THE BANK DEPOSIT
A. Campus Center and Bronco Student Center respectively have several bags per
unit, which make one deposit each. Other unit’s deposits, i.e. Kellogg West, Los
Olivos, etc., are treated as individual deposits. The total of each unit’s deposits are
entered on the daily cash log.
B. One set of bank deposit forms is completed for all cash deposits. The Foundation’s
yellow copy is given to the Accounts Specialist. For checks, an adding machine
tape should be run and the total should be entered as the control total in the Desktop
Deposit system. Checks are scanned through the system and a deposit confirmation
sheet is printed and the total should match the adding machine tape. An adding
machine tape of the cash by denomination should be added to the total deposit.
The white and pink copies are placed with the deposit money in the deposits bag.
The tape of checks and a Deposit Confirmation sheet, and the scanned checks are
placed in a separate bag and kept in the safe for 3 months before being destroyed.
Loose coin should be put into a coin envelope or small sealed bag.
C. The bank deposit bag is sealed. The amount on the bag is usually equal to the total
for the cash log, the exception is a deposit that is picked up and transported directly to
the bank following a special event.
D. This total should then be listed f o r the 3rd party vendor pick up.
E. When the 3rd party vendor arrives for the daily deposits he signs the log designating
the total amount of the day’s deposits.
370.5 CASHIER’S CHANGE FUND POLICY AND PROCEDURES
The Cashier’s Change Fund is used for providing all necessary cash for authorized
register change funds, purchase of coin and necessary cashing of checks. A specific
amount is authorized and documented and the Change Fund must always balance to
$18,000 in the safe. It is not to be used for any expenditure other than reimbursing other
register funds and change. This Change Fund is the only authorized means of providing
coin and currency from the cash room without the specific approval of the Manager of
Enterprise Accounting. It is the Cashier’s responsibility to account for all transactions
through this fund and maintain the appropriate mix of coin and currency for normal
operations. When requesting currency from the bank the coin order limit is $10,000.
A. Procedure to Order Currency and Coin
1. The Change Fund is inspected daily for checks and any overabundance of
certain denominations of coin and currency. The Cashier completes a coin
order form (370-G) to order the required denominations of coin and currency.
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One copy of the Coin Order form is attached to the cashiers daily vault
cash count for reconciling the change fund. (Appendix 370-C)
2. The completed Coin Order form is given to the Accounts Specialist who will
call in the order to the bank by the 10:30 a.m. deadline.
B. Receiving Change Order from the Armored Vehicle Courier
1. It must be verified that the correct amount is received immediately while the
courier is still in the cash room.
C. Preparing Register Banks from Change Fund for Enterprise Units
1. The changing of the register bank amount is documented by writing down on
the Deposit Transmittal the exact amount (by denomination) going to the
Cashier. This amount is for buying back coin and small currency to begin
the new register. It is a change fund revolving amount, not part of the deposit.
Banks will be made up according to each individual register’s specifications.
Most units keep their register banks on site in a secured safe.
2. A Change Order form (Appendix 370-H) is completed showing the exact
denominations going “From Cashier” and indicating to whom it goes. The
person picking up the register banks must sign the Sign out Log.
3. The Change Order form is placed in the Change Fund as a “Cash Out”
document for later reconciliation.
D. Making Change
1. Both sides of a Change Order form are completed, i.e., what monies were
given out and what was taken in.
2. The Change Order form is placed with the Change Fund for later
reconciliation.
E. Personal and Petty Cash Check Cashing Procedure
1. Personal checks of not more than $50.00 will be cashed for currently
employed, central office, full-time Foundation employees working in
Building #55 by the vault cashier during regular business hours.
2. Foundation issued petty cash reimbursement checks will be cashed by the
vault cashier during regular business hours.
F. Daily Reconciliation of Vault
At the close of business every day, Change Fund monies are counted by the vault
cashier and verified by the Manager of Enterprise Accounting or his/her designee.
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Using the Cashier’s Daily Cash Count form, the total of cash should equal the
Proof total at the bottom of the form: yesterday’s cash, plus the coin order received
from the bank (Cash In), less cash deposited to pay for today’s cash/coin order
(Cash Out).
370.6 SECURITY OF VAULT ROOM & SAFES
A. At the close of each business day, the cash vault, Cashier’s window, cash room
door and all safes must be secured.
B. The Manager of Enterprise Accounting must be notified if the vault and or safes
are left open for any reason.
C. All keys and combinations must be continuously safeguarded.
D. Only authorized persons are allowed into the vault room. The authorized persons
are maintained on a vault room/safe access list which is kept on the inside door of the
vault room. This list shows who has access to the vault room and who has access to the
safe combinations.
E. The alarm system must be functioning. The red light on the movement sensor
should go on when a person passes in front of the beam. The silent alarm button and
fire extinguisher should be kept unobstructed at all times.
370.7 COMBINATION/KEY(S) FOR SAFE
A. When an individual having knowledge of the combination/key(s) leaves or no
longer requires the combination/key(s) in the performance of his or her duties the
combination/key(s) must be changed and a record of the vendor used and date last
changed must be kept on the list of who has access to the vault room or safe, see list
discussed under 370.6D.
B. An accurate record must be maintained by the Authorized Signor/Unit Director,
or their designee of when the vault/safe combination and/or key(s) were last changed.
370.8 CHECK ACCEPTANCE PROCEDURES
This section relates to checks presented in payment for goods or services or as a donation to the
Foundation.
ACCEPTING CHECKS:
Subject to limitations or exceptions stated below, checks are accepted by the Foundation in
exchange for goods or services provided.
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A. CONDITIONS FOR ACCEPTANCE:
To be accepted, each check presented must:
1. Be payable to the Cal Poly Pomona Foundation Inc. except for a check payable to unit
with a DBA (Doing Business As) name.
2. Be recently dated - no postdated or stale dated (i.e., dating no earlier than 30 days prior to
the day of acceptance), if so the checks will be brought to the attention of the Authorized
Signer/Unit Director via email by the Foundation cashier, see section 370.3 for further
details.
3. Be properly signed or endorsed “for deposit only” by the presenter.
4. Be in agreement as to numeric and written amounts.
5. Be legibly written in ink or typed.
6. Have Federal Reserve routing codes printed as part of the MICR encoding at the bottom
of the check.
7. Not be altered or grossly mutilated.
8. Not have any unreasonable restrictions placed on the face which excessively limit its
application.
9. Contain sufficient information to permit tracing the presenter (e.g. address, telephone
number, etc.).
10. Checks and Cash Equivalents bearing the legend “Payable/Paid in Full” are not to be
accepted.
B. VERIFYING PRESENTER IDENTIFICATION:
IDENTIFICATION REQUIRED -Some form of identification, preferably one having a
picture, must be checked to verify the identification of each presenter of a check. NOTE
- The Cashier verifying the identification must initial the check.
C. RESTRICTIVE ENDORSEMENT AND OTHER INFORMATION REQUIRED:
ON ALL CHECKS ACCEPTED -before deposited with the Foundation cashier. All
checks must be restrictively endorsed immediately or by the close of each business day.
Endorsed check(s) held overnight must be located in a safe or vault in a secure location
until deposited with the Foundation. If the total deposit is $500 or more the funds must be
deposited in the Foundation the next business day or picked up per 3rd party vendor’s
transport schedule. If the total deposit is less than $500 the funds must be deposited in
the Foundation within a week or sent with the next 3rd Party Vendor’s scheduled pick-up..
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D. DISCREPANCY BETWEEN NUMERIC AND WRITTEN AMOUNTS:
When the numeric and written amounts on a check do not agree, a new check should be
requested. If a corrected check cannot be obtained, the check should clear based on the
written amount. The written amount is entered above the numeric amount and circled.
370.9 RETURNED CHECK PROCESSING
A. Checks may be returned unpaid by the banking system for a number of reasons; the
primary causes of returns are non-sufficient funds, account closed and stop
payment. Returned checks must be controlled during the process of attempting to
collect on the returned amount.
B. When the Financial System Department receives a notice of returned check from the
bank, it is forwarded to the Accounts Receivable Specialist in the Accounting
Department. The Accounts Receivable Specialist will send all returned checks to the
Authorized Signer/Unit Director. The unit director has the responsibility of following
up with the maker of the check or requesting the maker be sent to collections.
C. NSF checks greater than one year old will be written off with the prior approval of
the Chief Financial Officer and Executive Director. All Pledge/donation returned
checks are referred to development for their follow-up.
370.10 COUNTERFEIT CURRENCY
When a counterfeit note is received, the Cashier should:
1. Notify Campus Police by phone to pick up the counterfeit note.
2. Email Unit Director, with a CC: to the Executive Director, Chief Financial Officer, and
Manager of Enterprise Accounting.
370.11 SEPARATION OF RESPONSIBILITIES
A. Separation of duties must be maintained when cash is received. No single person
should have complete control over the entire process of receiving, processing
applying a payment, preparing the bank deposit and verifying the deposit.
B. The Cashier responsible for collecting cash, issuing cash receipts, and preparing the
departmental deposit shall be someone other than the person verifying the deposit.
Deposit verification is the responsibility of the Accounts Specialist and Manager of
Enterprise Accounting.
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370.12 RECORDING TO THE GENERAL LEDGER
A. Bank deposits must be reviewed, approved and recorded to the general ledger in a
timely manner. All bank deposits must be accounted for in the general ledger during
the appropriate month.
B. The Cashier with cash handling responsibilities cannot prepare and post journal
entries. The Accounts Specialist is responsible for preparing journal entries. All
journal entries must be reviewed, approved, and posted by the Manager of Enterprise
Accounting or their designee. The preparer and reviewer/approver must be different
persons.
370.13 GIFT PROCESSING & ANNUAL FUND DEPOSITS
Donations made to the Foundation and the University are processed through the Gift Processing
and Annual Fund departments. All donations are recorded in Gift Processing’s Raiser’s Edge
system.
Cash Receipts are produced as follows:
1. Each day donations are made to the Gift Processing department and to the Annual Fund, a
deposit transmittal is printed from their system. The cash is submitted directly to the
Foundation cashier in person. Checks are scanned through the Wells Fargo desktop deposit
system directly to the bank.
2. Each deposit is documented in the cashier’s log by both the depositor and the cashier.
3. The Executive Director of Advancement has the authority to sign for all donations &
Fundraising deposits that are processed by the cashier.
4. The cash is sorted by denomination. The currency, coin and checks are counted and listed on
the daily cash log.
5. The amounts of the deposits are verified with the deposit slips that are submitted with the
deposits.
6. Currency is deposited to the bank as per guidelines specified in section 370.4 - Preparing the
Bank Deposit.
7. The deposit transmittals are sent to the Accounts Specialist for processing of the cash
receipts.
8. The Accounts Specialist will verify cash, check and credit card totals from the deposit
transmittal to the cash log, the check deposit reports, and to the credit card batch
settlements.
9. Any discrepancies are discussed with Gift Processing.
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10. The Accounting Specialist processes the batch through the GL and prints the cash receipts.
Copies of the receipts are kept by the accounting department and the other set of receipts are
sent back to Gift Processing or Annual Fund for their reconciliation. Receipts over $25K are
distributed to FDN Internal Managers for review.
Department: Date:
Delivered By: Extension:
Prepared By:
Authorized Signer Signature:
CA CK CC
* YOU MUST COMPLETE THE ABOVE PRIOR TO DEPOSITING AT THE FOUNDATION'S CASHIER *
Cal Poly Pomona Foundation Inc. CR-370
** All departments collecting monies on behalf of the Foundation must deposit the funds timely defined as follows: Projects receiving
more than $100.00 per day are required to make deposits with the Foundation cashier, the next business day. Projects receiving less than
$100.00 per day are required to make deposits when they accumulate $100.00, or weekly, whichever comes first with the Foundation
Cashier. Projects are required to deposit all cash and checks at least weekly, regardless of the amount collected. To review foundation
cash receipt procedures click this link:
CAL POLY POMONA FOUNDATION, INC.
DEPOSIT SLIP
Payment Type
Project
Code
To assist us with our review of this deposit, please provide a
detailed description of the revenue, such as purpose, benefit and
attach any supporting documents. Please refer to page two of this
deposit slip for the types of revenue allowed per Executive Order
105 2 and the corresponding object codes.
Object
CodeAmount
Detailed Description:
$ Total