Cash Handling: Difference between revisions

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POLICY NO: 6054<br />
EFFECTIVE DATE: 10/17/03<br />
REVISED DATE: 01/08/09<br />
REVIEWED DATE: 01/08/09<br />
<big>'''Cash Handling Policy'''</big>
<br />
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[[General Accounting]] | [[SBIR/STTR Program Participation]] | [[Supplemental Compensation Plan]] | [[Facilities Management/Planning]] | [[Purchasing]] | [[Public Affairs]] | [[Facility Identification]] | [[Serving Alcoholic Beverages]] | [[Travel and Reimbursement]] | [[State Vehicles]] | [[Reproducing Copyrighted Materials]] | [[Credit Card Processing]] | [[Student Training Agreement]] | [[Non-faculty Volunteers]] | [[Cash Handling]] | [[Fraud]] | [[Assigning Research Lab Space]] | [[Public Research Lab Space]] | [[International Health Education]] | [[Faculty Personnel Records]] | [[Cellular Phone]] | [[Off-campus Graphic Design and Related Printing]] | [[Off-campus Photography]] | [[Tax Exempt Financing and Tracking of Both Qualified Use and Non-Qualified Use of Research Space]] | [[Secondary Logos]] | [[Social Media]]
[[General Accounting]] | [[SBIR/STTR Program Participation]] | [[Supplemental Compensation Plan]] | [[Facilities Management/Planning]] | [[Purchasing]] | [[Public Affairs]] | [[Facility Identification]] | [[Serving Alcoholic Beverages]] | [[Travel and Reimbursement]] | [[State Vehicles]] | [[Reproducing Copyrighted Materials]] | [[Credit Card Processing]] | [[Student Training Agreement]] | [[Non-faculty Volunteers]] | [[Cash Handling]] | [[Fraud]] | [[Assigning Research Lab Space]] | [[Public Research Lab Space]] | [[International Health Education]] | [[Faculty Personnel Records]] | [[Cellular Phone]] | [[Off-campus Graphic Design and Related Printing]] | [[Off-campus Photography]] | [[Tax Exempt Financing and Tracking of Both Qualified Use and Non-Qualified Use of Research Space]] | [[Secondary Logos]] | [[Social Media]]
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=== Basis for Policy ===


It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of cash and cash equivalents to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets.  Further, it is the policy of UNMC to comply with all [http://www.nebraskalegislature.gov/laws/laws.php state regulations] regarding the deposit of cash and cash equivalents.<br />
POLICY NO: '''6054'''<br />
EFFECTIVE DATE: '''10/17/03'''<br />
REVISED DATE: '''01/08/09'''<br />
REVIEWED DATE: '''01/08/09'''<br />


=== Authority Over Cash Funds ===
<big>'''Cash Handling Policy'''</big>


<br />
=== Basis for Policy ===


It is the policy of the University of Nebraska Medical Center that all cash funds on the UNMC campus will be under the control of the Controller.<br />
It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of cash and cash equivalents to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets.  Further, it is the policy of UNMC to comply with all [http://www.nebraskalegislature.gov/laws/laws.php state regulations] regarding the deposit of cash and cash equivalents.<br />
 
 
 
=== Income Reporting ===
 
 
Income collections and other monies received by departments for UNMC (other than those discussed in the following paragraph) will be submitted with a Cash Remittance Report and related pre-numbered receipt slips to the Finance Cashier.


=== Authority Over Cash Funds ===


Grants, contracts and donations receipts will be submitted with a Grants/Contracts/Donations Deposit Form to Sponsored Programs Accounting in accordance with established guidelines.
It is the policy of the University of Nebraska Medical Center that all cash funds on the UNMC campus will be under the control of the [http://mailto:ckirchner@unmc.edu Controller].<br />


Deposit transmittal will be made on a daily basis.<br />
=== Income Reporting ===


Income collections and other monies received by departments for UNMC (other than those discussed in the following paragraph) will be submitted with a Cash Remittance Report and related pre-numbered receipt slips to the [http://app1.unmc.edu/bus&fin/index.cfm?L2_ID=6&L1_ID=4&L3_ID=26&CONREF=25 Finance Cashier].


Grants, contracts and donations receipts will be submitted with a Grants/Contracts/Donations Deposit Form to [http://app1.unmc.edu/bus&fin/index.cfm?L2_ID=6&L1_ID=-1&L3_ID=46&CONREF=45 Sponsored Programs Accounting] in accordance with established [http://info.unmc.edu/dept/spaccounting/index.cfm?conref=12 guidelines].


=== Internal Controls ===
Deposit transmittal will be made on a daily basis.<br />


=== Internal Controls ===


Departments are required to establish the following internal controls over cash receipts (income collections) and imprest (change or petty cash) funds:<br />
Departments are required to establish the following internal controls over cash receipts (income collections) and imprest (change or petty cash) funds:<br />
      
      
* Departments will maintain written detailed internal procedures describing the proper handling of each type of cash transaction.
* Departments will maintain written detailed internal procedures describing the proper handling of each type of cash transaction.
Line 81: Line 60:
*    No funds administered by UNMC will be expended for articles or services which are for the personal use of staff or faculty members.
*    No funds administered by UNMC will be expended for articles or services which are for the personal use of staff or faculty members.
*    Personal checks will not be cashed for employees from income collections or imprest cash funds.
*    Personal checks will not be cashed for employees from income collections or imprest cash funds.
*    One individual (cash custodian) will be charged with the responsibility of imprest cash fund control. If custodianship is transferred to another person, that individual’s name will be submitted immediately to the Controller.  
*    One individual (cash custodian) will be charged with the responsibility of imprest cash fund control. If custodianship is transferred to another person, that individual’s name will be submitted immediately to the [http://mailto:ckirchner@unmc.edu Controller].  
*    Imprest cash funds (change or petty cash funds) will be kept separate from other funds.<br />
*    Imprest cash funds (change or petty cash funds) will be kept separate from other funds.<br />


Note:This does not preclude departments from keeping change funds in a cash register as long as daily reconciliations are performed to ensure that the change fund is intact and cash receipts reconcile to cash register tapes or to pre-numbered receipt slips.<br />
Note:This does not preclude departments from keeping change funds in a cash register as long as daily reconciliations are performed to ensure that the change fund is intact and cash receipts reconcile to cash register tapes or to pre-numbered receipt slips.<br />
      
      
* Departments without petty cash authorization will contact the Purchasing Department for small disbursement options.
* Departments without petty cash authorization will contact the Purchasing Department for small disbursement options.
*    Imprest cash funds will be maintained at their authorized amount.<br />
*    Imprest cash funds will be maintained at their authorized amount.<br />


=== Auditing Cash Funds ===


=== Auditing Cash Funds ===
All imprest cash funds will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental cash handling procedures will be reviewed for conformity with UNMC policies and for proper internal control.<br />  
 
 
All imprest cash funds will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental cash handling procedures will be reviewed for conformity with UNMC policies and for proper internal control.<br />
 
 
 
For more detailed information, see the Cash Handling Procedures or contact Cashiering.<br />
 


For more detailed information, see the [[Cash Handling Procedures]] or contact Cashiering.<br />


This page maintained by dkp.
This page maintained by [http://mailto:dpanowic@unmc.edu dkp].

Revision as of 09:12, October 11, 2012

Human Resources   Safety/Security   Research Compliance   Compliance   Privacy/Information Security   Business Operations   Intellectual Property


General Accounting | SBIR/STTR Program Participation | Supplemental Compensation Plan | Facilities Management/Planning | Purchasing | Public Affairs | Facility Identification | Serving Alcoholic Beverages | Travel and Reimbursement | State Vehicles | Reproducing Copyrighted Materials | Credit Card Processing | Student Training Agreement | Non-faculty Volunteers | Cash Handling | Fraud | Assigning Research Lab Space | Public Research Lab Space | International Health Education | Faculty Personnel Records | Cellular Phone | Off-campus Graphic Design and Related Printing | Off-campus Photography | Tax Exempt Financing and Tracking of Both Qualified Use and Non-Qualified Use of Research Space | Secondary Logos | Social Media

POLICY NO: 6054
EFFECTIVE DATE: 10/17/03
REVISED DATE: 01/08/09
REVIEWED DATE: 01/08/09

Cash Handling Policy


Basis for Policy

It is the policy of the University of Nebraska Medical Center (UNMC) to establish good internal controls over the handling of cash and cash equivalents to adequately safeguard and properly record UNMC assets and to protect the employees who handle those assets. Further, it is the policy of UNMC to comply with all state regulations regarding the deposit of cash and cash equivalents.

Authority Over Cash Funds

It is the policy of the University of Nebraska Medical Center that all cash funds on the UNMC campus will be under the control of the Controller.

Income Reporting

Income collections and other monies received by departments for UNMC (other than those discussed in the following paragraph) will be submitted with a Cash Remittance Report and related pre-numbered receipt slips to the Finance Cashier.

Grants, contracts and donations receipts will be submitted with a Grants/Contracts/Donations Deposit Form to Sponsored Programs Accounting in accordance with established guidelines.

Deposit transmittal will be made on a daily basis.

Internal Controls

Departments are required to establish the following internal controls over cash receipts (income collections) and imprest (change or petty cash) funds:

  • Departments will maintain written detailed internal procedures describing the proper handling of each type of cash transaction.
  • Cash funds will be adequately safeguarded (i.e., kept in a safe, locked cabinet, or locked drawer) to reduce the risk of loss or misuse of cash funds.
  • Departments will issue pre-numbered receipt slips in consecutive order for all income collection transactions and will retain a copy of all pre-numbered receipt slips.
  • Checks and other instruments of payment (i.e., money orders, traveler’s cheques, etc.) will be restrictively endorsed immediately upon receipt.
  • No funds administered by UNMC will be expended for articles or services which are for the personal use of staff or faculty members.
  • Personal checks will not be cashed for employees from income collections or imprest cash funds.
  • One individual (cash custodian) will be charged with the responsibility of imprest cash fund control. If custodianship is transferred to another person, that individual’s name will be submitted immediately to the Controller.
  • Imprest cash funds (change or petty cash funds) will be kept separate from other funds.

Note:This does not preclude departments from keeping change funds in a cash register as long as daily reconciliations are performed to ensure that the change fund is intact and cash receipts reconcile to cash register tapes or to pre-numbered receipt slips.

  • Departments without petty cash authorization will contact the Purchasing Department for small disbursement options.
  • Imprest cash funds will be maintained at their authorized amount.

Auditing Cash Funds

All imprest cash funds will be reviewed periodically and confirmed annually to assist in maintaining proper accountability and internal control. In addition, written departmental cash handling procedures will be reviewed for conformity with UNMC policies and for proper internal control.

For more detailed information, see the Cash Handling Procedures or contact Cashiering.

This page maintained by dkp.

Retrieved from "https://wiki.unmc.edu/index.php?title=Cash_Handling&oldid=1349"