Cash represents one of the University’s most sensitive assets. Due to its nature, there should be clear accountability for cash, both in its receipt for deposit and custodianship.<\/p>\n\n\n\n
The University decentralizes cash handling through extensive delegations of responsibility to facilitate operations and provide convenience and flexibility. The cash handling function is the ultimate responsibility of the vice president for business affairs and the comptroller, and only those departments with approval are authorized to collect or receive funds for the University.<\/p>\n\n\n\n
All money collected for the University from any source must be deposited with the Cashier\u2019s 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.<\/p>\n\n\n\n
To ensure that an adequate system of internal control over cash handling, cash collections, and deposits is maintained.<\/p>\n\n\n\n
These policies and procedures are applicable to all University employees and students who collect funds.<\/p>\n\n\n\n
University funds are subject to an audit at any time by the Office of Internal Audit.<\/p>\n\n\n\n
Only campus units approved by the vice president for business affairs may collect or receive funds, whether from cash sales or other sources. Each authorized unit must maintain a signed cash collection authorization form on file with the Office of Business Affairs. Unit heads are responsible for designating and training employees authorized to handle cash.<\/p>\n\n\n\n
Units without approval must direct payments to the Cashier\u2019s Office. Payments for events or conferences should be mailed or delivered in person to the Cashier\u2019s Office. Any funds received by mail must be immediately forwarded to the Cashier\u2019s Office.<\/p>\n\n\n\n
Significant cash shortages must be reported immediately to the comptroller and McNeese Police. Authorized units must screen cash transactions carefully for counterfeit currency and report suspicious activity promptly to the comptroller and McNeese Police.<\/p>\n\n\n\n
McNeese Police will provide escort\/transport services of University funds only by a commissioned officer.\u00a0Only secure packages will be accepted.\u00a0All transports will be documented on the dispatcher\u2019s daily log to include the time of pickup and the officer assigned to perform the task.\u00a0The assigned officer will complete a Money Escort Form entry on each transport and obtain the initials of the submitting personnel.\u00a0Officers 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.\u00a0Bags shall be brought to McNeese Police and immediately placed into the safe located near the front desk.\u00a0The Money Escort Form shall be placed in the duty box.\u00a0The following business day, the police lieutenant (designated key custodian), shall retrieve the Money Escort Form from the duty box to determine the number of bags expected in the safe.\u00a0The lieutenant shall retrieve all bags from the safe and document each on a new Money Escort Form.\u00a0The form and all bags shall then be transported by a commissioned officer to the Cashier\u2019s 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.<\/p>\n\n\n\n
All employees of the University are covered by a blanket fidelity bond.<\/p>\n\n\n\n
Only the approved campus units are authorized to collect money. All money received on campus is sent to the Cashier\u2019s Office for posting and processing for deposit. All authorized campus units are required to have a receipt log book, a locked bank bag issued by the Cashier\u2019s Office, the approved deposit cover sheet that is submitted with all money collected, and an official University \u201cFor Deposit Only\u201d stamp. All locked bags must use the standard cover sheet which has been approved by the Cashier\u2019s Office. The deposit cover sheet accounts for all cash, checks, and credit cards separately, and includes contact information, fund\/index, and account. All deposits should have a double tape of the funds enclosed. All checks must be endorsed with the \u201cFor Deposit Only\u201d stamp.<\/p>\n\n\n\n
All campus deposits in excess of $1,000 in cash should be delivered by McNeese Police to the Cashier’s Office via locked bank bags. Departments are allowed to transfer cash collection amounts up to $1,000 and checks in any amount to the Cashier\u2019s Office without the assistance of McNeese Police. All funds received in campus units are to be sent to the Cashier\u2019s Office within 24 hours of receipt for processing (not including weekends and University holidays). Departments may elect to keep the key to their bag and send a representative to be present when the bag is processed. If a department elects to do this, a representative must come to the Cashier’s Office within 24 hours to process and receive receipts. Departments that elect to leave their key at the Cashier\u2019s Office will have receipts sent back to them via the locked bag.<\/p>\n\n\n\n
Payments on student accounts may be received in person, by drop box, by mail, and online by credit\/debit card or electronic check.<\/p>\n\n\n\n
All funds received through the Cashier\u2019s Office are reconciled before deposit. Cash is sent to the bank at the close of business for that day\u2019s receipts. Checks are sent the next business day after additional reconciliation\/reporting is done by a separate employee other than Cashier’s Office employees. Deposits are delivered daily to the bank via McNeese Police. All deposits are logged and signed by the McNeese Police officer and the cashier. <\/p>\n\n\n\n
Cash is deposited daily with an original pre-printed Bank One deposit slip. All cash is counted by each cashier and verified by the supervisor who initials the deposit slip.<\/p>\n\n\n\n
Checks are deposited daily with an original pre-printed Bank One deposit slip. A double adding machine tape listing the amount and total of all checks is included with the deposit slip.<\/p>\n\n\n\n
The Cashier\u2019s Deposit Recap form is completed daily and reconciled to the appropriate Banner, Core, and Nelnet reports. The reconciliation is prepared by an Office of Administrative Accounting employee other than the Cashier’s Office employees. Any changes made to deposits by the bank are researched, and corrections are made as necessary. Reconciliation reports are submitted to the comptroller.<\/p>\n\n\n\n
This policy is distributed via the University Policies webpage.<\/p>\n","protected":false},"parent":0,"template":"","policy_types":[13],"class_list":["post-5209","ie_policy","type-ie_policy","status-publish","hentry","policy_types-business-and-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy\/5209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy"}],"about":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/types\/ie_policy"}],"version-history":[{"count":4,"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy\/5209\/revisions"}],"predecessor-version":[{"id":16427,"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy\/5209\/revisions\/16427"}],"wp:attachment":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/media?parent=5209"}],"wp:term":[{"taxonomy":"policy_types","embeddable":true,"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/policy_types?post=5209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}