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Cash Handling (Policy 6010)

University Policy 6010

Download a Printable Version of Policy 6010

Effective Date

July 1981

Last Revision Date

April 2019

Responsible Party

Chief Financial and Operating Officer and Vice President for Finance and Operations, (208) 426-1200
Controller, (208) 426-1951

Scope and Audience

This policy applies to all Boise State University faculty, staff, students, organizations, and individuals who handle Cash receipts or accept payment in any form on behalf of the University. The scope includes activities at all locations at which University business is conducted. This policy does not apply to payment cards such as credit or debit cards which are addressed by University Policy 6340 (Payment Card Industry Data Standard Security – PCI DSS).

Additional Authority

  • University Policy 12020 (Exclusion from Campus)
  • University Policy 11010 (Gift Solicitation and Management)
  • University Policy 5100 (Sponsored Projects and Charitable Gifts)

1. Policy Purpose

To establish policy for the handling, receiving, transporting and depositing of Cash.

2. Policy Statement

The intent of this policy is to ensure the proper handling of Cash. This includes promoting appropriate security and stewardship of funds and ensuring accurate financial reporting.

3. Definitions

3.1 Cash

Includes coin, currency, checks, money orders and traveler’s checks.

3.2 Official Records

The Official Record of the University is Oracle Financials Cloud.

4. Responsibilities and Procedures

4.1 Department Responsibilities

a. Departments handling Cash are responsible for ensuring that all reasonable efforts are made to safeguard Cash against loss, theft, or misappropriation.

b. Departments must prepare and deliver the deposit according to procedure provided by the Controller’s Office.

c. Departments are required to record the deposit within one day of when the deposit is made. The depositing department will be notified of any discrepancies between departmental deposits and Cash deposited.

d. Departments are required to perform reconciliations of their deposits to the Official Record of the University on a monthly basis, promptly identifying and correcting any discrepancies.

e. Separation of duties is required between the person receiving Cash and the person responsible for approving the accounting records.

4.2 University Financial Services Responsibilities

a. The Payment and Disbursement Center (P&D) is responsible for receiving departmental funds and accepting student payments.

b. P&D may rescind a department’s authority to handle Cash for violations of this policy.

4.3 University Employee Responsibilities

Employees collecting Cash on behalf of the University are prohibited from using non-University checking accounts.

4.4 Charitable Gifts

Charitable Gifts will be routed through the University Foundation. See University Policies 11010 (Gift Solicitation and Management) and 5100 (Sponsored Projects and Charitable Gifts) for additional detail.

5. Related Information

Cash Handling Procedure Guide

University Policy 6340 (Payment Card Industry Data Standard Security –PCI DSS)

Revision History

April 2006; October 2007; June 2015; April 2019