COP 04-0309: Decentralized Cash and Check Collection

Purpose Statement

This procedure establishes the guidelines for faculty, staff, students, and non-employees collecting cash on behalf of the College outside of the official Florida SouthWestern State College Cashier’s Office.

Guidelines

This procedure pertains to any employee, student, or non-employee that has been granted approval and is authorized to collect cash & checks outside of the official Florida SouthWestern State College Cashier’s Office. Cash refers to cash, checks, drafts, money orders, and any other negotiable instrument drawn on a U.S. bank and payable in U.S. Dollars. Cash is prohibited from being collected outside of the College’s Cashier Offices or other designated cash collection locations without Bursar approval.

Procedures

1. General Requirements
   The Cash Custodian, e.g., Club Treasurer, Dean, Registrar, etc., is the person authorized by the Bursar’s Office to maintain a cash collection site outside of the College Cashier’s Office. This person is responsible for all cash and check logs, receipts, cash boxes, endorsement stamp, and whatever other documents are needed to support the educational business activity. In the case of an audit of this activity, the Cash Custodian will be the contact person.
   
   The Cash Custodian will complete a Request to Collect Cash and/or Checks, Form BO-074, to obtain a cash box and pre-numbered manual receipts from the Cashier’s Office. The Cashier’s Office will record the sequence of manual receipts issued. If needed, a change fund can be established by completing a Change Fund Request, BO-073. The amount of cash issued is not to exceed $50.
   
   It is the personal responsibility of the Cash Custodian to maintain the cash in a secure location. In the event of missing funds or inappropriate use of funds, the Cash Custodian should contact the Cashier’s Office and Public Safety immediately for an investigation.
   
   The Cash Custodian will be held responsible for reimbursing the Cashier’s Office for any lost or stolen keys, cash boxes, endorsement stamps or any other items provided by the Cashier’s Office.
   
   The Cash Custodian cash will not, under any circumstance, cash a check(s) out of the funds that are being collected.
   
   If the bank returns the check, the department will be notified and the amount of the check will be reversed out of the account where the funds were deposited (see item #H below).
2. Payments Received in Cash or by Check
   1. When payment is received, a manual receipt should be completed for the amount of the payment received. The receipts should be issued in numerical sequence. If, for any reason, a receipt must be voided, all copies of the receipt will be marked “VOID” and turned in to the Cashier’s Office.
   2. The check, draft or money order should be payable to Florida SouthWestern State College, have a current date (not post-dated), the dollar amount, the person or organization’s name and address and a signature. Foreign checks, drafts or money orders not drawn on a U.S. bank or not payable in U.S. dollars should not be accepted.
   3. All cash, checks, drafts or money orders received are to be recorded unto a cash/ check log. Fill out the cash/check log, form BO-042, as completely as possible, including the Banner Index and account number where the money is to be deposited.
   4. Place the cash, checks, drafts and money orders with the check log(s) in the cash box and store in a secure place, preferably a safe, until delivered to the Cashier’s Office no later than the next business day.
   5. Maintain a copy of the log(s) for department records.
   6. All cash, checks, drafts, and money orders received, and the check log(s) must be deposited with the Cashier’s Office daily during business hours.
   7. The Cashier’s Office will verify that all of the checks are on the log(s). The Cash Custodian will be asked to initial any additions or deletions made to a cash/check log and a copy of the cash/check log will be provided to the Cash Custodian before leaving the Cashier’s Office to document that custody of the cash/check log has been transferred to the Cashier’s Office.
   8. After the cash/check log(s) is processed and recorded into Banner, the Cash Custodian will receive a copy of the Banner receipt numbers at the time of deposit.
   9. If the deposited item is returned to the College for non-sufficient funds (NSF), the Cashier’s Office will make a reversal to the person’s or organization’s account. The Cash Custodian will be notified. It will be up to the Cashier’s Office to contact the person concerning the NSF check and arrange for payment to be made. In addition to the amount of the check, the Cash Custodian must collect an administrative charge to cover the Florida Statute authorized, returned item fee.