Departmental Receipts and Deposits

1. Does the department collect any cash or checks? If yes, is there compliance with the following:
   • Deposits should be made at the Cashier's Office, D-155 ASB, at least weekly or each day when funds collected exceed $50.
2. Cash or checks should not be held over a weekend.
3. It is expected and required that monies will be kept in a secure place pending deposit.
   • Departments are not to use monies collected to make cash purchases or cash personal checks.
   • A receipt must be issued to each individual from whom a payment is received. In the case of personal use reimbursements, other documentation could be retained such as check copies or a departmental log which would identify the date money was received, who from, purpose, amount and whether it was cash or check. The basic expectation from the policy is that there is documentation to support in detail the total deposit amount.
   • When preparing a deposit slip, departments must balance daily cash collected against receipts issued (or other supporting documentation) and code the difference to the over/short account (-4760).
   • Copies of receipts or other supporting documentation must be retained by a department for the current year and the immediate past year.
   • If the departmental collections are other than routine office reimbursements for personal use, the department must have written authorization on file from the Assistant Vice President-Finance before monies can be collected.