Cash Handling Policy

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Deposit Dos and Don'ts

The list below, although not an all-inclusive policy or a step-by-step procedure, will prevent many potential problems related to departmental deposits:

• Checks, bankcard information, and cash received by your department should be submitted to the Finance Office within 48 hours. While the deposit is in your department, ensure that it is securely locked up.
• Delete or shred any bankcard information (number, expiration date, and 3-digit "verification code") in your possession as soon as you have submitted it to the Finance Office for processing. Keep records of the cardholder's contact information, though, in case questions arise.
• Count your deposit before you bring it up to the Finance Office. It should be counted in the presence of another employee in your office, and the total should be recorded on the transmittal of funds form.
• Departments are responsible for keeping their own records of who has paid them. The Finance Office keeps no record of individual payments submitted for deposit other than what departments write directly onto the transmittal of funds form. Before submitting a transmittal, make sure your department records the details of the individual payments.
• For any transmittal form that lists several account codes, please ensure that your department keeps records of how each check/bankcard was allocated in that deposit.
• Roll your coins and band your bills as follows:

  Coin/Bill	Quantity	Value
  Penny	50	$.50
  Nickel	40	$2
  Dime	50	$5
  Quarter	40	$10
  $1	25	$25
  $5	20	$100
  $10	20	$200
  $20	25	$500

• If you're sending up bankcard slips, include the cardholders' zip codes.
• Don't walk by yourself if you're carrying large amounts of cash.
• Carry your deposit in a closed bag, box, or envelope.
• Bring your deposits up before 2pm, especially on Fridays and before holidays.
• Send up both the white and yellow copies of the transmittal with the deposit. We'll send back the yellow copy (signed) with the deliverer.
• Don't send deposits through campus mail or leave them in inboxes or anywhere else unattended. They should be handed directly to a Finance Office employee, preferably the administrative assistant. (We're now signing ALL transmittals with "received by" initials.)
• Don't attach deposits to AP forms. They should be brought up separately with a transmittal. When the Finance administrative assistant processes the deposit, she'll send back a Banner receipt through the mail. That Banner receipt should then be attached to the AP form (if applicable) and sent to the payments lead.