The objective of the Cash Handling process is to ensure that all funds are received, secured, deposited and reconciled in a timely, accurate and well controlled manner.
Only designated Office Coordinator(s) in the SMTD are authorized to receive cash/checks as determined by the CAO, Christian Rafidi firstname.lastname@example.org. Our authorized Cash Handlers, staff who have been designated to receive cash or checks from faculty, staff, students, and vendors, are:
All authorized cash handlers must have taken the MyLinc TME103 training course at least once and are certified to receive cash/checks. Information on web-based depository training classes is available on the Treasurer’s Office website.
SMTD may receive funds for a variety of purposes including, but not limited to event fees, program fees, conference fees, etc.
All funds received for each transaction will be counted and a record must be maintained on a separate log in Excel. The log must be saved centrally and access provided to the Financial Manager or emailed weekly to the Financial Manager. All tracking logs must be in Excel and identify recipient, amount, and dates of original receipt. For all checks that do not belong to SMTD we will immediately deposit them to the University’s unallocated account. Unallocated deposits should be made as follows:
All refunds must be recorded or logged separately. All tracking logs must be in Excel and identify recipient, amount, and dates of original receipt and refund. Before refunding, the transaction must be approved by a higher level of authority within your department, and final approval by the Financial Manager, Michelle Terrell email@example.com, for amounts up to $500, and the CAO, Christian Rafidi firstname.lastname@example.org for amounts over $500.
Cash handling responsibilities are designated as follows:
Secure cash and checks by placing them in a locked safe, cash box, or locked drawer. The secured place is continually visible to our authorized SMTD cash handler(s). Keys to the drawer are kept in a secure, secret place. For combination locks, the combination should be changed monthly or semi-annually and/or when employees transfer or are terminated. Authorized users in MPathways will be updated by the Financial Manager as changes occur.
Depositors in the SMTD are authorized to receive cash/checks as determined by the CAO, Christian Rafidi email@example.com. Our authorized depositors, staff who have been designated to receive cash or checks from the cash handlers/receivers are the following staff:
Authorized Depositors by Department
The Financial Manager will keep the list of authorized depositors in MPathways current with any staff changes such as a new staff member who will be depositing funds/allocating or a staff member who is no longer depositing/allocating funds.
The individual performing reconciliation should not be the individual making the deposits. The Financial Manager will verify weekly deposit activity using Business Objects. Refer to the Run the FN03 JrnDetail Report in Business Objects Step-by-Step Procedure or Section 6.1 of the Depository Training Guide for detailed instructions on how to access this report.
Periodically, the CAO and/or Financial Manager will compare planned budgets to actual and trends over time to ensure reasonableness and appropriateness.
The Financial Manager will review the following reports in Business Objects:
The Financial Manager will review the standard Cash Handling report provided in M-Reports to monitor the following:
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