Cashier Policy #303

Policy #303 Approved: March 26, 2018
UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS
Cashier Policy
Policy #303
Source of Authority: N.C.G.S. § 147-77;
N.C.G.S. § 116-34(a);
UNC Code § 502(A)
Revision Authority: Chancellor
History:

First Issued: February 17, 2011
Revised: July 17, 2012

Revised:  March 26, 2018

Related Policies: Accounts Payable Policy #301;
Cash Management Plan Policy #302;
Improper Activities Reporting Policy #114;
Purchasing Policy #308
Responsible Offices: Financial Services Department
Effective Date: March 26, 2018
PDF: POLICY #303

I. Purpose

This policy governs the functions performed by the Cashiering Office, specifically the receipting and depositing of school funds. The Cashier’s Office is responsible for receipting and depositing all school-related funds and ensuring that a complete and adequate record exists of each transaction.

II. Scope

This policy applies to all University departments and employees.

III. Definitions

A. “Cash” means currency, coin, credit card payments, and checks received for any program or purpose at UNCSA regardless of the source of funding for the program or the collected monies intended use.

B. "Receipts" refers to any document serving as proof of payment and provided to the payer for payments/deposits made to UNCSA collection points, including all payments/deposits submitted to the Cashier's Office.

IV. Policy

All cash received on behalf of the university must be receipted and deposited in the Cashier's Office in accordance with procedures setup herein.  This includes, but is not limited to, proceeds received from sales, services, gifts, grants, contracts, fines, rebates, student registration, tuition and fees, collections on student accounts receivable, departmental and scholarship receipts, special fees, fines and penalties, special billings, and receipts from interdepartmental billings.

Proceeds will not be netted against expenses before deposit.  All proceeds must be deposited in the Cashier's Office.  Expenses associated with generating the proceeds must be incurred according to established campus Purchasing Policy #308 and procedure, which can be referenced at Purchasing Services.

No department may collect cash without the authorization from the Controller, or authorized designee, and without complying with the designated cash collection method.

All cash collected in a department must be deposited in accordance with the Cash Management Policy.

All cash must be kept safe in accordance with the Cashier Procedures Manual.  All losses and thefts must be reported immediately to both the Controller and Campus Police.

No UNCSA school, department, or activity may open a bank account without prior approval from the Controller.

 

V. History

A. February 17, 2011 – Adopted by Board of Trustees as part of UNCSA Policy Manual

B.  July 17, 2012 – Minor revision to insure policy section IV.F. related to petty cash adheres to the restrictions set forth in Procedure #303.

C.  March 26, 2018 - Revised to remove procedures from the policy and direct University employees to the Cashier Procedures Manual.


UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS

Cashier Procedures

Procedure #303

I.  Financial Services will establish and maintain a Cashier Procedures Manual that will contain more information and procedures for implementing the Cashier Policy.