Cash Handling

Human Resources

Safety/Security

Research Compliance

Compliance

Privacy/Information Security

Business Operations

Intellectual Property

Faculty

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 | Bank Card Processing | Student Training Agreement | Volunteer | Cash Handling | Fraud | Assigning Research Lab Space | Space Scheduling and Fundraising | Academic 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 | Sensitive Equipment Tracking | International Visitors | Accounts Receivable Management | Internal Audit | Regulations on the Use of University Facilities and Grounds

Policy No.: 6054
Effective Date: 10/17/03
Revised Date: 12/29/12
Reviewed Date: 12/29/12

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 Assistant Vice Chancellor for Business and Finance and Assistant Vice Chancellor for Business and Finance and 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 generated using the Brain system to the Finance Cashier Office. Cashiering stations using the Brain (cash application) system should be compiling these reports on a daily basis.

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

Departments receiving receipts on more of a periodic (non-daily) basis, not set up using the Brain system submit their receipts to the Finance Cashier Office with a completed Cashiering Deposit Form. Receipts are to be remitted to the Finance Cashier Office within three business days of being received.

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 and the Finance Cashier Office.
• 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 by the Assistant Vice Chancellor for Business and Finance and Controller 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.

Additional Information

• Contact the Assistant Vice Chancellor for Business and Finance and Controller
• Contact the Finance Cashier Office
• Cash Handling Procedures

This page maintained by dkp.