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Cash Handling: Difference between revisions
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=== Basis for 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 [http://www.nebraskalegislature.gov/laws/laws.php state regulations] regarding the deposit of cash and cash equivalents. | 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. | ||
=== Authority Over Cash Funds === | === 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 [http://mailto:ckirchner@unmc.edu Controller]. | 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]. | ||
=== Income Reporting === | === 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.<br /> | 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.<br /> | ||
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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 [http://info.unmc.edu/media/cashiering/UNMC%20Cost%20Center%20Deposit%20Form.pdf Cashiering Deposit Form]. Receipts are to be remitted to the Finance Cashier Office within three business days of being received. | 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 [http://info.unmc.edu/media/cashiering/UNMC%20Cost%20Center%20Deposit%20Form.pdf Cashiering Deposit Form]. Receipts are to be remitted to the Finance Cashier Office within three business days of being received. | ||
=== Internal Controls === | === Internal Controls === | ||
Departments are required to establish the following internal controls over cash receipts (income collections) and imprest (change or petty cash) funds: | Departments are required to establish the following internal controls over cash receipts (income collections) and imprest (change or petty cash) funds: | ||
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'''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. | '''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. | *Departments without petty cash authorization will contact the Purchasing Department for small disbursement options. | ||
*Imprest cash funds will be maintained at their authorized amount. | *Imprest cash funds will be maintained at their authorized amount. | ||
=== Auditing Cash Funds === | === Auditing Cash Funds === | ||
All imprest cash funds will be reviewed periodically and confirmed annually by the [mailto:ckirchner@unmc.edu 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. | All imprest cash funds will be reviewed periodically and confirmed annually by the [mailto:ckirchner@unmc.edu 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=== | |||
*[https://info.unmc.edu/management/finance/cashering/cashiering-policies.html Cashiering Policies and Procedures] | |||
*Contact the [mailto:terry.lilla@unmc.edu Finance Cashier Office] | |||
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This page maintained by [mailto:dpanowic@unmc.edu dkp]. | This page maintained by [mailto:dpanowic@unmc.edu dkp]. | ||