Responsibility
for handling cash is assigned to individual employees who
participate in any cash handling function and to their supervisors.
Each person who receives cash has a responsibility to ensure
the security of cash and to create an audit trail that will
permit tracking of such cash. Cash handlers are given a cash
handling procedures manual which they are instructed to read
and sign a verification form that they have read the procedures.
Access to cash is limited and funds are kept secured at all
times at all cash handling locations. Unauthorized persons
are not permitted in areas where cash is handled and daily
reconciliation of cash is done behind locked doors. All money
received is counted and verified before it is placed in cash
drawers. Upon receipt of cash, a pre-numbered hand written
cash receipt or a PeopleSoft receipt is issued and then secured
in locked boxes or locked cash drawers. Checks are accepted
only for the amount owed to the College and are immediately
stamped for "deposit only” upon receipt at each cash
handling location. Deposits are made daily by the Business
Office if they exceed $200 and at least weekly regardless
of the amount. At the close of each day all funds are reconciled
with the daily receipts. Bank deposits are prepared and then
verified and initialed by a department employee.
