Policy: IV.D.1x (inactive)
Issued: July 17, 1989
Owner: University Bursar
This policy describes the general guidelines for cashiering activities within departments.
2.0 Policy [Top]
The University Bursar approves departmental requests for cashiering functions. Departments designate their own cashiers.
Departmental personnel must transmit all received funds directly to a designated cashier for official receipting, coding, and depositing.
Departments must personally deliver currency and coin to the Bursar's Office, Health Services Foundation, or approved banking locations, as appropriate. DO NOT SEND CURRENCY AND COIN THROUGH MESSENGER MAIL OR THROUGH U. S. MAIL. Only the University Bursar can authorize individuals or departments to deposit University funds directly to a bank.
University of Virginia cashiers are responsible for the following:
- Accurate collection.
- Proper documentation.
- Judicious safekeeping.
- Timely deposit.
- Procedure 4-10, "Preparation of Direct Deposit Slip for Bank Deposits"
- Procedure 4-11, "Preparation of Deposit/Receipt Form."
Restrictions on cashiering activities are:
- Appropriate internal controls must be in place at all times.
- Receipts documentation must conform in all respects to that required by University procedures.
- All checks should be restrictively endorsed when received.
- Receipts must be deposited daily and intact.
- Provision for the safekeeping of receipts must be available at the cashiering site.
The cashiering function may be performed at the department or activity level only under circumstances approved by the University Bursar.
Procedure 4-13, "Endorsing Checks."
3.0 Definitions [Top]
Cashiering is defined as the collection, recording, safekeeping, and deposit of cash and other monetary receipts.
4.0 References [Top]
5.0 Approvals and Revisions [Top]