Cash Collections After Hours

Administrative Accounting Policies and Procedures – McNeese State University

Revised/Approval Date: May 2010

The Vice President for Business Affairs and the Comptroller determine and publish the criteria for establishing policies for cash collections and deposits and procedures necessary.

General

All money collected for the University from any source must be deposited with Cashier’s Office daily. All receipts must be deposited intact. No part of any monies collected may be used to pay bills or expenses of any kind, nor may the monies be deposited elsewhere unless authorization has been received for the use of a bank depository other than a University bank account.

Purpose

To establish procedures for the secure storage of university funds collected and transported to and /or by university police after regular business hours, on weekends and holidays.

Scope

These policies and procedures are applicable to all McNeese employees and students who collect funds.

Objective

• To safeguard McNeese State University accounts against waste, fraud, and inefficiency.
• To ensure a high level of accuracy and reliability in the accounting records.
• To reduce the opportunity for errors or losses without incurring unreasonable additional costs for the increments of internal controls established.

Audit

University funds are subject to an audit anytime by the Internal Auditor.

Procedure

University Police will provide escort/transport services of university funds only by a commissioned officer according to University Police Policy and Procedure O-3. Only secured packages will be accepted.

All transports will be documented on the dispatcher’s daily log to include the time of pickup and the officer assigned to perform the task. The assigned officer will complete a “McNeese Money Escort Form” entry on each transport and obtain the initials of the submitting personnel. Officers are not to answer routine calls for service while conducting money transports nor are they to leave bags unattended or locked in a vehicle for any reason.

Bags shall be brought to the University Police Department and immediately placed into the safe located near the front desk. The McNeese Money Escort Form shall be placed in the duty box.

The following business day, the Police Lieutenant (designated key custodian), shall retrieve the McNeese Money Escort Form from the duty box to determine the number of bags expected in the safe. The Lieutenant shall retrieve all bags from the safe and document each on a new McNeese Money Escort Form. The form and all bags shall then be transported by a commissioned officer to the cashier’s office for processing.

Any discrepancies in the number of bags placed into and retrieved from the safe (over or under) shall be immediately brought to the attention of the assigned transport officer and the Chief for further investigation.

Safe Keys, Back Up Keys and Storage

The comptroller shall retain a spare set of keys to the safe in a secure location. A second spare set of keys shall be retained in the facilities and maintenance safe. The Police Lieutenant shall keep a set of keys in a secure location within his/her office for daily use and for use by a designated back up officer in the Lieutenant’s absence from work.