CASHIERING ACTIVITIES

• 1.0 Purpose
• 2.0 Policy
  • 2.1 Authority
  • 2.2 Responsibilities
  • 2.3 Restrictions
• 3.0 Definitions
• 4.0 References
• 5.0 Approvals and Revisions

1.0 Purpose

This policy describes the general guidelines for cashiering activities within departments.

2.0 Policy [Top]

2.1 Authority

The Associate Comptroller for Revenue and Collections 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 University Cashier'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 Associate Comptroller can authorize individuals or departments to deposit University funds directly to a bank.

2.2 Responsibilities

University of Virginia cashiers are responsible for the following:

• Accurate collection.
• Proper documentation.
• Judicious safekeeping.
• Timely deposit.

2.3 Restrictions

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 Associate Comptroller.

3.0 Definitions [Top]

Cashiering is defined as the collection, recording, safekeeping, and deposit of cash and other monetary receipts.

4.0 References [Top]

Policy II.E.4, "Controlling Cash Items"
Procedure 5-5, "Preparation of Direct Deposit Slip for Bank Deposits"
Procedure 5-6, "Preparation of Deposit/Receipt Form."
Procedure 5-8, "Endorsing Checks."

5.0 Approvals and Revisions [Top]