Background
Fiduciary Responsibility
The University placed a special trust in you when it delegated to you the task of handling University cash and checks. You now have what is called a fiduciary responsibility. This term means that you are now acting in the University's behalf and must do so in a responsible way. And this means using good cash handling practices to:
- Account for and deposit in a timely way all cash, checks received, and credit card recordings.
- Protect University cash, checks and credit card recordings from loss or theft.
- Make sure that funds/monies received are used for University purposes.
Good cash handling and control practices are the subject of this course. The main point is that as an approved cash handler, you must start implementing cash control practices the moment you receive cash until it is accounted for with proper documentation, and deposited appropriately.
Last Revised 4/18/2006