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CR-370

CASH RECEIPTS

370.1 UNIT DEPOSITING PROCEDURES

370.2 GENERAL INTERNAL POLICIES RELATING TO THE CASHIER

370.3 TIMELY DEPOSITS

370.4 PREPARING THE BANK DEPOSIT

370.5 CASHIER’S CHANGE FUND POLICY AND PROCEDURES

370.6 SECURITY OF VAULT AREA & SAFES

370.7 COMBINATION/KEY(S) FOR SAFE

370.8 CHECK ACCEPTANCE PROCEDURES

370.9 RETURNED CHECK PROCESSING

370.10 COUNTERFEIT CURRENCY

370.11 SEPARATION OF RESPONSIBILITIES

370.12 RECORDING TO THE GENERAL LEDGER

370.13 GIFT PROCESSING & ANNUAL FUND DEPOSITS

APPENDICES

370-A Deposit Log

370-B Deposit Transmittal

370-C Cashier’s Daily Vault Cash Count Form

370-D Deposit Slip

370-E Cash Receipt

370-F Courier Log

370-G Coin Order Form

370-H Change Order Form

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370.1 UNIT DEPOSITING PROCEDURES

A. Policy

The Foundation CFO has the responsibility for reviewing the procedures for

proper accountability of cash receipts. A variation from established procedures

requires the prior approval of the CFO.

All units must document the deposit of cash and negotiables by obtaining a

receipt or copy of the Deposit Slip (Appendix 370-D) that indicates the date,

amount and initials of the person making the deposit. Enterprise deposits

brought to the vault by the units themselves are to be documented in the cashier’s

Deposit Log (Appendix 370-A) by both the depositor and the cashier. Deposits

delivered by 3rd party vendor (i.e. Dunbar) are documented by the copy of the

Courier Log (Appendix 370-F). The Bookstore deposits are picked up by the 3rd

party vendor and taken directly to the bank. The Bookstore follows all other

procedures covered in this document.

B. Procedures for Depositing Counted Monies

Counted deposits are those that have been counted by the depositing unit prior

to being turned in to the Foundation Cashier. These are normally receipts from

cash register sales and consist of cash, checks, and credit cards. Enterprise

operations deposit the counted drawer drops. These deposits will be made in

the following manner:

1. The deposit is compiled as follows:

a. It should be verified that the Deposit Transmittals (Appendix 370-B)

have: a signature, the date of sales , project name and number,

and amount .

b. The cash bag must be sealed when received from the units by the

vault cashier.

2. The money is deposited as follows:

a. 3rd party vendor picks up cash bags from various unit locations and

transports them to the Foundation.

b. The deposits transported to the vault by 3rd party vendor are

documented by the Courier Log (Appendix 370-F). Each unit has

their own record book. Deposits brought down individually will be

entered into the logbook and signed by the cashier and depositor.

c. Deposits are counted. Any corrections to the deposit transmittal should

be noted, with an additional explanation made in the “Accounting Use

Only” block on the transmittal.

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d. Foundation Accounting will notify the depositing unit of the actual

deposit amount by cash receipt, or if discrepancy is noted, by email.

3. The Unit’s deposit bags are opened and counted as follows:

a. The currency and coin are counted by the cashier, supervisor or

appointed administrative employee and listed on the Deposit

Transmittal by denomination.

b. The deposit is totaled on the Deposit Slip and submitted with the deposit

in a sealed bag to the Foundation by a 3rd party vendor, & transported to

the bank.

c. The Bookstore deposits are transported directly to the bank by the 3rd party

vendor.

4. The over or short amounts are determined as follows:

a. The cashier opens the bags and counts the monies. The cashiers’ counts

are compared to the Deposit Transmittal.

b. In cases where the vault cashier discovers a discrepancy of $25.00

or more the vault cashier will immediately notify the department’s

unit manager & Manager of Enterprise Accounting of the discrepancy.

c. In cases where the Bookstore’s accounting technician discovers a

discrepancy and if the variance is $25.00 or more, the discrepancy

should be researched and the Bookstore Director and the Manager of

Enterprise Accounting should be notified. The reason for the variance

should be noted on the bookstore’s deposit report.

d. Any variances in cash of $50.00 or more must be reported immediately

to one of the following: Executive Director or Chief Financial Officer.

e. In compliance with Executive Order No. 813 any actual or suspected

theft, defalcation, fraud or irregularities, must be reported by the

next business day to the following: Executive Director or Chief

Financial Officer.

370.2 GENERAL INTERNAL POLICIES RELATING TO THE CASHIER

The Cashier’s vault change fund will be counted daily before the Cashier leaves at the

end of the day, and verified by the Manager of Enterprise Accounting or their designee.

The count and verification are documented on the Cashier’s Daily Vault Cash Count Form

(Appendix 370-C).

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Monies received will be deposited within one working day after receipt by the Cashier.

370.3 TIMELY DEPOSITS

The Foundation Vault Cashier may receive deposits in several different ways depending

on the type of unit operation. In each case, however, accountability and documentation

must be maintained. The appropriate method in which deposits are received and the

corresponding Cashier procedures are as follows:

A. 3rd party vendor delivers directly from Enterprise Units.

1. A completed Deposit Transmittal form must be with the deposits.

B. Cashier receives deposit from a non-enterprise unit:

1. The depositor presents the deposit slip and funds to the vault cashier.

(Appendix 370-D)

2. The cashier verifies the funds and gives or emails the depositor a cash

receipt. (Appendix 370-E)

C. All departments collecting monies on behalf of the Foundation must deposit the funds

in a timely manner, as follows:

1. Units receiving more than $500.00 per day in cash, check or credit card

receipts are required to bring their deposits to the Foundation cashier, the next

business day or picked up per 3rd party vendor’s transport schedule.

2. Units receiving less than $500.00 per day in cash, check or credit card

receipt are required to bring their deposits when they accumulate $500.00, or

weekly, whichever comes first, to the Foundation Cashier.

3. Units are required to deposit all cash, checks and credit card receipt at least

weekly, regardless of the amount collected.

4. If the staff fails to meet any of the above criteria, the Foundation Accounts

Specialist will notify the unit’s manager/staff via email with a CC: to the

Manager of Enterprise Accounting and Unit Director.

If the delay in depositing funds continues, the Unit Director will be notified,

with a CC: to the Chief Financial Officer, Executive Director, Manager of

Enterprise Accounting and Dean (Vice President for Academic Affairs or

Administrative Affairs if applicable).

If the delay in depositing funds still continues, a meeting will be held with the

Unit Director(s), Chief Financial Officer, Manager of Enterprise

Accounting, and Dean (Vice President for Academic Affairs or

Administrative Affairs if applicable) to discuss and resolve the issue.

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5. Under no circumstances are deposits to be forwarded to the Foundation Vault

Cashier’s Office through Campus mail.

370.4 PREPARING THE BANK DEPOSIT

A. Campus Center and Bronco Student Center respectively have several bags per

unit, which make one deposit each. Other unit’s deposits, i.e. Kellogg West, Los

Olivos, etc., are treated as individual deposits. The total of each unit’s deposits are

entered on the daily cash log.

B. One set of bank deposit forms is completed for all cash deposits. The Foundation’s

yellow copy is given to the Accounts Specialist. For checks, an adding machine

tape should be run and the total should be entered as the control total in the Desktop

Deposit system. Checks are scanned through the system and a deposit confirmation

sheet is printed and the total should match the adding machine tape. An adding

machine tape of the cash by denomination should be added to the total deposit.

The white and pink copies are placed with the deposit money in the deposits bag.

The tape of checks and a Deposit Confirmation sheet, and the scanned checks are

placed in a separate bag and kept in the safe for 3 months before being destroyed.

Loose coin should be put into a coin envelope or small sealed bag.

C. The bank deposit bag is sealed. The amount on the bag is usually equal to the total

for the cash log, the exception is a deposit that is picked up and transported directly to

the bank following a special event.

D. This total should then be listed f o r the 3rd party vendor pick up.

E. When the 3rd party vendor arrives for the daily deposits he signs the log designating

the total amount of the day’s deposits.

370.5 CASHIER’S CHANGE FUND POLICY AND PROCEDURES

The Cashier’s Change Fund is used for providing all necessary cash for authorized

register change funds, purchase of coin and necessary cashing of checks. A specific

amount is authorized and documented and the Change Fund must always balance to

$18,000 in the safe. It is not to be used for any expenditure other than reimbursing other

register funds and change. This Change Fund is the only authorized means of providing

coin and currency from the cash room without the specific approval of the Manager of

Enterprise Accounting. It is the Cashier’s responsibility to account for all transactions

through this fund and maintain the appropriate mix of coin and currency for normal

operations. When requesting currency from the bank the coin order limit is $10,000.

A. Procedure to Order Currency and Coin

1. The Change Fund is inspected daily for checks and any overabundance of

certain denominations of coin and currency. The Cashier completes a coin

order form (370-G) to order the required denominations of coin and currency.

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One copy of the Coin Order form is attached to the cashiers daily vault

cash count for reconciling the change fund. (Appendix 370-C)

2. The completed Coin Order form is given to the Accounts Specialist who will

call in the order to the bank by the 10:30 a.m. deadline.

B. Receiving Change Order from the Armored Vehicle Courier

1. It must be verified that the correct amount is received immediately while the

courier is still in the cash room.

C. Preparing Register Banks from Change Fund for Enterprise Units

1. The changing of the register bank amount is documented by writing down on

the Deposit Transmittal the exact amount (by denomination) going to the

Cashier. This amount is for buying back coin and small currency to begin

the new register. It is a change fund revolving amount, not part of the deposit.

Banks will be made up according to each individual register’s specifications.

Most units keep their register banks on site in a secured safe.

2. A Change Order form (Appendix 370-H) is completed showing the exact

denominations going “From Cashier” and indicating to whom it goes. The

person picking up the register banks must sign the Sign out Log.

3. The Change Order form is placed in the Change Fund as a “Cash Out”

document for later reconciliation.

D. Making Change

1. Both sides of a Change Order form are completed, i.e., what monies were

given out and what was taken in.

2. The Change Order form is placed with the Change Fund for later

reconciliation.

E. Personal and Petty Cash Check Cashing Procedure

1. Personal checks of not more than $50.00 will be cashed for currently

employed, central office, full-time Foundation employees working in

Building #55 by the vault cashier during regular business hours.

2. Foundation issued petty cash reimbursement checks will be cashed by the

vault cashier during regular business hours.

F. Daily Reconciliation of Vault

At the close of business every day, Change Fund monies are counted by the vault

cashier and verified by the Manager of Enterprise Accounting or his/her designee.

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Using the Cashier’s Daily Cash Count form, the total of cash should equal the

Proof total at the bottom of the form: yesterday’s cash, plus the coin order received

from the bank (Cash In), less cash deposited to pay for today’s cash/coin order

(Cash Out).

370.6 SECURITY OF VAULT ROOM & SAFES

A. At the close of each business day, the cash vault, Cashier’s window, cash room

door and all safes must be secured.

B. The Manager of Enterprise Accounting must be notified if the vault and or safes

are left open for any reason.

C. All keys and combinations must be continuously safeguarded.

D. Only authorized persons are allowed into the vault room. The authorized persons

are maintained on a vault room/safe access list which is kept on the inside door of the

vault room. This list shows who has access to the vault room and who has access to the

safe combinations.

E. The alarm system must be functioning. The red light on the movement sensor

should go on when a person passes in front of the beam. The silent alarm button and

fire extinguisher should be kept unobstructed at all times.

370.7 COMBINATION/KEY(S) FOR SAFE

A. When an individual having knowledge of the combination/key(s) leaves or no

longer requires the combination/key(s) in the performance of his or her duties the

combination/key(s) must be changed and a record of the vendor used and date last

changed must be kept on the list of who has access to the vault room or safe, see list

discussed under 370.6D.

B. An accurate record must be maintained by the Authorized Signor/Unit Director,

or their designee of when the vault/safe combination and/or key(s) were last changed.

370.8 CHECK ACCEPTANCE PROCEDURES

This section relates to checks presented in payment for goods or services or as a donation to the

Foundation.

ACCEPTING CHECKS:

Subject to limitations or exceptions stated below, checks are accepted by the Foundation in

exchange for goods or services provided.

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A. CONDITIONS FOR ACCEPTANCE:

To be accepted, each check presented must:

1. Be payable to the Cal Poly Pomona Foundation Inc. except for a check payable to unit

with a DBA (Doing Business As) name.

2. Be recently dated - no postdated or stale dated (i.e., dating no earlier than 30 days prior to

the day of acceptance), if so the checks will be brought to the attention of the Authorized

Signer/Unit Director via email by the Foundation cashier, see section 370.3 for further

details.

3. Be properly signed or endorsed “for deposit only” by the presenter.

4. Be in agreement as to numeric and written amounts.

5. Be legibly written in ink or typed.

6. Have Federal Reserve routing codes printed as part of the MICR encoding at the bottom

of the check.

7. Not be altered or grossly mutilated.

8. Not have any unreasonable restrictions placed on the face which excessively limit its

application.

9. Contain sufficient information to permit tracing the presenter (e.g. address, telephone

number, etc.).

10. Checks and Cash Equivalents bearing the legend “Payable/Paid in Full” are not to be

accepted.

B. VERIFYING PRESENTER IDENTIFICATION:

IDENTIFICATION REQUIRED -Some form of identification, preferably one having a

picture, must be checked to verify the identification of each presenter of a check. NOTE

- The Cashier verifying the identification must initial the check.

C. RESTRICTIVE ENDORSEMENT AND OTHER INFORMATION REQUIRED:

ON ALL CHECKS ACCEPTED -before deposited with the Foundation cashier. All

checks must be restrictively endorsed immediately or by the close of each business day.

Endorsed check(s) held overnight must be located in a safe or vault in a secure location

until deposited with the Foundation. If the total deposit is $500 or more the funds must be

deposited in the Foundation the next business day or picked up per 3rd party vendor’s

transport schedule. If the total deposit is less than $500 the funds must be deposited in

the Foundation within a week or sent with the next 3rd Party Vendor’s scheduled pick-up..

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D. DISCREPANCY BETWEEN NUMERIC AND WRITTEN AMOUNTS:

When the numeric and written amounts on a check do not agree, a new check should be

requested. If a corrected check cannot be obtained, the check should clear based on the

written amount. The written amount is entered above the numeric amount and circled.

370.9 RETURNED CHECK PROCESSING

A. Checks may be returned unpaid by the banking system for a number of reasons; the

primary causes of returns are non-sufficient funds, account closed and stop

payment. Returned checks must be controlled during the process of attempting to

collect on the returned amount.

B. When the Financial System Department receives a notice of returned check from the

bank, it is forwarded to the Accounts Receivable Specialist in the Accounting

Department. The Accounts Receivable Specialist will send all returned checks to the

Authorized Signer/Unit Director. The unit director has the responsibility of following

up with the maker of the check or requesting the maker be sent to collections.

C. NSF checks greater than one year old will be written off with the prior approval of

the Chief Financial Officer and Executive Director. All Pledge/donation returned

checks are referred to development for their follow-up.

370.10 COUNTERFEIT CURRENCY

When a counterfeit note is received, the Cashier should:

1. Notify Campus Police by phone to pick up the counterfeit note.

2. Email Unit Director, with a CC: to the Executive Director, Chief Financial Officer, and

Manager of Enterprise Accounting.

370.11 SEPARATION OF RESPONSIBILITIES

A. Separation of duties must be maintained when cash is received. No single person

should have complete control over the entire process of receiving, processing

applying a payment, preparing the bank deposit and verifying the deposit.

B. The Cashier responsible for collecting cash, issuing cash receipts, and preparing the

departmental deposit shall be someone other than the person verifying the deposit.

Deposit verification is the responsibility of the Accounts Specialist and Manager of

Enterprise Accounting.

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370.12 RECORDING TO THE GENERAL LEDGER

A. Bank deposits must be reviewed, approved and recorded to the general ledger in a

timely manner. All bank deposits must be accounted for in the general ledger during

the appropriate month.

B. The Cashier with cash handling responsibilities cannot prepare and post journal

entries. The Accounts Specialist is responsible for preparing journal entries. All

journal entries must be reviewed, approved, and posted by the Manager of Enterprise

Accounting or their designee. The preparer and reviewer/approver must be different

persons.

370.13 GIFT PROCESSING & ANNUAL FUND DEPOSITS

Donations made to the Foundation and the University are processed through the Gift Processing

and Annual Fund departments. All donations are recorded in Gift Processing’s Raiser’s Edge

system.

Cash Receipts are produced as follows:

1. Each day donations are made to the Gift Processing department and to the Annual Fund, a

deposit transmittal is printed from their system. The cash is submitted directly to the

Foundation cashier in person. Checks are scanned through the Wells Fargo desktop deposit

system directly to the bank.

2. Each deposit is documented in the cashier’s log by both the depositor and the cashier.

3. The Executive Director of Advancement has the authority to sign for all donations &

Fundraising deposits that are processed by the cashier.

4. The cash is sorted by denomination. The currency, coin and checks are counted and listed on

the daily cash log.

5. The amounts of the deposits are verified with the deposit slips that are submitted with the

deposits.

6. Currency is deposited to the bank as per guidelines specified in section 370.4 - Preparing the

Bank Deposit.

7. The deposit transmittals are sent to the Accounts Specialist for processing of the cash

receipts.

8. The Accounts Specialist will verify cash, check and credit card totals from the deposit

transmittal to the cash log, the check deposit reports, and to the credit card batch

settlements.

9. Any discrepancies are discussed with Gift Processing.

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10. The Accounting Specialist processes the batch through the GL and prints the cash receipts.

Copies of the receipts are kept by the accounting department and the other set of receipts are

sent back to Gift Processing or Annual Fund for their reconciliation. Receipts over $25K are

distributed to FDN Internal Managers for review.

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Appendix 370-B

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Appendix 370-C

Department: Date:

Delivered By: Extension:

Prepared By:

Authorized Signer Signature:

CA CK CC

* YOU MUST COMPLETE THE ABOVE PRIOR TO DEPOSITING AT THE FOUNDATION'S CASHIER *

Cal Poly Pomona Foundation Inc. CR-370

** All departments collecting monies on behalf of the Foundation must deposit the funds timely defined as follows:   Projects receiving

more than $100.00 per day are required to make deposits with the Foundation cashier, the next business day. Projects receiving less than

$100.00 per day are required to make deposits when they accumulate $100.00, or weekly, whichever comes first with the Foundation

Cashier. Projects are required to deposit all cash and checks at least weekly, regardless of the amount collected. To review foundation

cash receipt procedures click this link:

CAL POLY POMONA FOUNDATION, INC.

DEPOSIT SLIP

Payment Type

Project

Code

To assist us with our review of this deposit, please provide a

detailed description of the revenue, such as purpose, benefit and

attach any supporting documents. Please refer to page two of this

deposit slip for the types of revenue allowed per Executive Order

105 2 and the corresponding object codes.

Object

CodeAmount

Detailed Description:

$ Total

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Appendix 370-E

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Appendix 370-F

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Appendix 370-G

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Appendix 370-H