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Business and Financial Policies and Procedures

10 Cash Handling

10.1 Cash Handling Units

10.1.1 Obtain Approval as a Cash Handling Unit
10.1.2 Implement Internal Controls for Handling Cash and/or Checks
10.1.3 Comply with Cash Handling Unit Head Responsibilities
10.1.4 Provide Instructions for Payment by Check
10.1.5 Design Check Endorsement Stamps

10.2 Accepting Cash and Checks

10.2.1 Accept Checks as Payment
10.2.2 Process Money Received in Error
10.2.3 Handle Unauthorized Payments or Payments to Non-Cash Handling Units
10.2.4 Process Checks Not Made out to the University
10.2.5 Reconcile Cash Receipts Daily
10.2.6 Reconcile Cash Receipts Monthly
10.2.7 Handle Counterfeit Currency

10.3 Depositing Money

10.3.1 Deposit Cash and Checks with USFSCO
10.3.2 Deposit Foreign Checks with USFSCO
10.3.3 Deposit Unit Funds Directly to the Bank

10.4 Returned Check Handling

10.4.1 Obtain Approval to Handle Returned Checks
10.4.2 Handle Returned Checks (Approved Units Only)

10.5 Petty Cash Funds

10.5.1 Establish a Petty Cash Fund
10.5.2 Serve as a Petty Cash Fund Custodian
10.5.3 Replenish Petty Cash Funds
10.5.4 Verify Petty Cash Funds Monthly
10.5.5 Reconcile Petty Cash Funds Quarterly
10.5.6 Change the Amount of a Petty Cash Fund
10.5.7 Change the Custodian of a Petty Cash Fund
10.5.8 Close a Petty Cash Fund

10.6 Change Funds

10.6.1 Establish a Change Fund
10.6.2 Serve as a Change Fund Custodian
10.6.3 Reconcile Change Funds Daily
10.6.4 Change the Amount of a Change Fund
10.6.5 Change the Custodian of a Change Fund
10.6.6 Close a Change Fund

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