Cash Handling 1: Departmental Procedures

UNL Bursar's Office Author

05/25/2018 Added

2074 Plays

Description

Video #1 of 4 Cash Handing training Introduction to basic departmental procedures for collection of funds for a service or product.

Searchable Transcript

Search:

[00:00:00.000]In this quick clip we are going to cover the basic departmental procedures regarding the collection of funds for a service or product.
[00:00:09.733]In regards to the collection of cash for a service or product, a department must:
[00:00:14.733]Designate a Fund Custodian or Custodians
[00:00:17.833]Read and understand the UNL Cash Handling Policies and Procedures available at bursar.unl.edu.
[00:00:25.800]Determine cash storage locations. A frequently accessed, daytime cash storage location and secure nightly repository will be necessary.
[00:00:35.300]A safe, lockable desk, or other secure receptacle is required.
[00:00:40.000]Develop a process to document sales and record deposits.
[00:00:43.866]Obtain a restrictive endorsement stamp with the Bursar’s assistance.
[00:00:48.433]Please seek assistance from the Bursar's Office regarding the establishment of internal cash handling procedures.
[00:00:54.233]Any collection activity MUST be reported to this Office.
[00:01:00.266]Anyone who handles cash on a regular basis should take at least 5 consecutive days of vacation off annually.
[00:01:07.733]During this time, another person should process the cash transactions on a timely basis to minimize risk for the institution.
[00:01:15.333]Any change in dollar volume or any occurrence of an unusual nature should be reported to UNL’s Internal Audit Office or the Bursar’s Office.
[00:01:24.066]Report Changes in Fund Custodian Immediately.
[00:01:27.966]If there is a change in job responsibility or if cash receipts are no longer collected, please notify the Bursar’s Office.
[00:01:38.166]The Department should establish an effective accountability structure. There should be adequate segregation of duties.
[00:01:44.933]For example – someone that opens the mail, processes the payments, prepares the deposits, and reconciles would have conflicting duties
[00:01:52.033]and would not be qualified. Each of those duties should be separated.
[00:01:57.633]Knowledgeable Staff. Employees that handle cash should have sufficient training to complete the task successfully.
[00:02:06.000]These individuals should be fully informed regarding the applicable policies and procedures.
[00:02:11.500]Departmental staff should be prepared to address unusual issues and emergencies.
[00:02:16.266]Easily accessible management contact information is necessary to ensure smooth operations.
[00:02:21.900]Employees should know whom to contact if problems arise, including during nights and weekends.
[00:02:29.600]Thank you for your time. If you have any questions please contact the Bursars’ Office.

The screen size you are trying to search captions on is too small!

You can always jump over to MediaHub and check it out there.

Comments

0 Comments

Cash Handling 1: Departmental Procedures

Description

Searchable Transcript

Comments icon comment

Related Channels

Comments