Cash Handling Policy
All funds received on behalf of the university must be deposited in the Cashier's Office, Old Main 136, in accordance with procedures set up herein. This includes, but is not limited to, proceeds received from sales, services, gifts, grants, contracts, prizes, awards, raffles, fines, permits, rewards, licenses, tickets, refunds and rebates.
"Funds received on behalf of the university" include but are not limited to amounts collected as a result of the use of campus equipment and facilities, paid sponsorships by the university, activities of university employees in their employment, and the on and off campus sales and services of items financed with university funds.
"Funds" in the context of this policy include cash, checks, money orders, cashier checks, traveler checks, etc.
Proceeds will not be netted against expenses before deposit. All proceeds must be deposited in the Cashier's Office. Expenses associated with generating the proceeds must be incurred according to established campus purchasing policy and procedure which can be referenced at Purchasing Services.
Any exceptions to this policy must be approved in advance and in writing by the campus Controller.
Individual academic/campus departments and student organizations are not allowed to have their own private checking account. All funds must be deposited in the Cashier's Office in Old Main 136.
Any noncompliance will be considered a serious violation of campus policy and will be dealt with accordingly.
Cash Handling Procedures
Before handling cash, all departments must:
First have the approval of the Controller's Office. If necessary, departments can request starting cash from the Controller's Office in writing.
Obtain a blank receipt book from the Cashier's Office, unless a cash register is used. RECEIPT BOOKS MUST BE OBTAINED FROM THE CASHIER'S OFFICE. NO OTHER RECEIPT BOOKS ARE ALLOWED.
Obtain a locking cash box unless a cash tray or other secured device is available.
Have the ability to secure funds in a safe or locking file cabinet when not in use.
Have a procedure in place for changing combinations/keys of secured devices when there is an employee change.
Have at least one locking money bag for transporting money. Money bags are available in the Cashiers Office.
Designate one person to be responsible for the funds.
Develop a detailed department cash handling policy which complies with the campus policy.
All transactions must be receipted. Receipt should be completed immediately when the transaction is made.
1. The payor should be given the original receipt if a receipt book is used. The carbon copy should be left in the book. If a receipt is voided, the original receipt must be attached in the receipt book. Skipped receipts should be voided with the original kept in the receipt book.
2. Cash registers should be placed to enable the payor to see what is being rung up. The machine-printed receipt should be given the payor.
3. For ticket sales, the pre-numbered ticket given to the payor is the receipt and no other receipt is necessary.
4. Concession vending sales are an exception to the rule and receipts are not required. In this case, cash is controlled through tight inventory control. New concession operations should contact the Controller's Office to set up proper procedures.
Checks transacted should be made out to the campus and the department accepting payment, i.e., checks transacted in the bookstore should be made out to UW-Superior Bookstore.
Checks transacted should be immediately endorsed with the department's 'for deposit only' endorsement stamp. The endorsement stamp should have the department's name on it and must be 'for deposit only.' No other endorsement stamp is allowed.
Postdated checks should not be accepted for payment. IOU's borrowed against starting cash or undeposited receipts are prohibited.
Cash handling accounts are designed for transacting business and should not be used as a check cashing fund for students or staff. The bookstore has the only authorized check cashing service on campus.
Refunds should not be made out of receipts. If a refund is needed, a request should be sent to the Head Cashier indicating the receipt number, date of receipt, amount of receipt, amount to be refunded, and an explanation if necessary. The only exception to this is if the receipt was just written and the payment for that receipt has not been deposited yet. In this case, the receipt would need to be voided and the original receipt attached to the receipt book. If you can't secure the original receipt then the refund has to be processed through the Cashier's Office.
No expenditures can be made directly out of receipts. All expenses associated with an operation must be initiated through established purchasing procedures. Any questions in this regard should be directed to the Purchasing Agent.
Receipts should be deposited within five business days following the event, and receipts in excess of $1,000 should be deposited by the end of the next business day following the event.
All departments should complete the standardized deposit slip when depositing cash with the Cashier's Office. The deposit form is available at the business office web site.
Account name and description should be completed. Departments that have no variances in the information should complete the data on a blank receipt and make copies for future use. Questions on an account name and description should be addressed to the cashiers, who will also provide coding information, account and detail class.
When total receipts do not equal the total deposit, the variance should be extended in the over/short line. The variance should never be added to or deducted from starting cash in an attempt to balance receipts to deposits.
Departments having authorization to make direct deposits to the bank are still required to send a deposit slip to the Cashiers Office.
The period covered by the deposit should be entered in the memo area of the deposit slip.
Deposits should be presented to the cashiers between 9:00 AM and 2:30 PM, Monday through Thursday.
When receipt books are used, they should be given to the cashiers along with the deposits for auditing.
When a cash register is used, the register tape should be dated and stored for audit in the department.
When tickets are used, a record of ticket number sold for each deposit should be on file in the department. Unused tickets should be stored in a secure location.
Concession sales/inventory reduction reports for each event should be stored for audit in the department.
The Business Office is the only department authorized to have a bank account. All other campus departments and student organizations are prohibited from opening any bank account to deposit state funds. All receipts collected by any department in the performance of assigned duties are considered state funds and must be deposited through the Cashier's Office.
All deposits should be delivered in a locked money bag. The Cashiers Office should keep a key.
Filled receipt books, or any other form of receipts, must be kept for a minimum of six years. They can be kept in the department or given to the Cashiers Office to store.
Any theft or disappearance of cash should be immediately reported to the Controller's Office.