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Policy: II.E.4x (inactive)

Issued: July 17, 1989

Owner: University Comptroller

Latest Revision:

CONTROLLING CASH ITEMS


**INACTIVE POLICY**

For Current Policies:
Policy Table of Contents

 

1.0 Purpose

This policy describes the general guidelines for controlling cash items at the University.

2.0 Policy [Top]

It is University policy to minimize the number of departments collecting cash items. Each collection point may have different requirements for cash item collection, may use different numbers of employees, and may deposit at different locations. However, there are several basic rules of control that must be followed. All University employees involved with cash item collection should both be aware of and comply with these rules.

ALL NEW CASH COLLECTION LOCATIONS MUST BE APPROVED BY THE ASSOCIATE COMPTROLLER FOR REVENUE COLLECTION.

The basic rules governing receipt of cash items are:

These basic rules are the basis for the following categories of controls.

See also:

Procedure 5-7,"Cash Item Controls," for the specific lists of controls.

ALL CASH OPERATIONS ARE SUBJECT TO REVIEW BY THE UNIVERSITY'S INTERNAL AND EXTERNAL AUDITORS. THEREFORE, ENSURE THAT ALL RECEIPTS CAN BE RELATED TO A DEPOSIT, AND THAT ALL DEPOSITS CAN BE DIRECTLY TRACED TO AN ENTRY ON THE UNIVERSITY'S MONTHLY ACCOUNTING STATEMENTS.

3.0 Definitions [Top]

Cash items include currency, coins, and checks.

4.0 References [Top]

5.0 Approvals and Revisions [Top]


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