CASH MANAGEMENT POLICY
This policy establishes campus protocol and procedural guidelines for the handling of cash and cash equivalents, and the safeguarding of funds in accordance with University and ICSUAM Policies 3101.02, 3102.01, 3102.02, 3102.03, 3102.04, 3102.05, 3102.08, 3102.10 and 3102.11.
Who the Policy applies to:
This policy applies to all University Departments, Programs, and Administrative Offices that accept funds on the behalf of the University. University employees (students, staff and faculty) and volunteers who receive and handle cash and cash equivalents must follow appropriate safeguarding, accountability, reporting, and audit controls as stated in the cash handling policies and procedures.
There are three levels of cash handling defined by this policy: Major Cashiering Department (i.e., Student Financial Services Center), Satellite Cashiering Department (i.e., UTAPS) or a Cash Handling Department (i.e., School of Music). The procedures for the administration of each level are attached to this policy. Approval and training are required for all departments that collect cash or cash equivalents (i.e., checks or credit cards).
Why the Policy is necessary:
Strong internal controls for cash collection are necessary to prevent the mishandling of
University funds and are designed to safeguard and protect employees from inappropriate charges of mishandling funds by defining their responsibilities in the cash handling process.
The University Bursar and Director of the Student Financial Services Center must approve official cashiering locations. The Assistant Director of the Student Financial Service Center and University Cashier ensures that all locations are operating in accordance with University policies and procedures. The Information Security Officer and University Bursar are responsible for ensuring that University Departments and Auxiliary Organizations that accept credit cards comply with PCI (Payment Card Industry) Data Security Standards.
Cash Handling Departments
Major Cashiering Department
Robert S. Nelsen, President
October 29, 2015