Principles & Practices
Summary / Reference
Prerequisite Conditions
Principle |
Practice |
||
| Employment history verified, background check and authorization |
Cash handlers must be specifically authorized to handle cash after verification of employment, completion of a credit check (optional) and a fingerprint/background check | ||
| Separation of duties and dual custody | Each cash handler must be assigned separate duties that require coordinating with another cash handler |
Step 1 - Accept cash/checks/credit cards
- Verify check payee is "UC Regents" or "Regents of the University of California"
- Endorse check with appropriate stamp (UC Regents)
- Give the customer a receipt
- When appropriate, show correct posting campus unit/department
Step 2 - Prepare deposit
- Prepare a deposit form as soon as total of cash, checks and credit card slips meet or exceed $500
- Practice dual custody
- Balance receipts to cash
- Keep backups of deposit forms
- Prepare journal entries as appropriate
Step 3 - Deposit
cash
- Deposit cash at least weekly or sooner
- Cashier's Office (102 Hahn) - In-person window hours are 9am - 3pm. A 24-hour depository is located outside the North entrance.
Note: Deposits made after 3pm will not be posted until the following day.
Step 4 - Reconcile deposits
- Balance to General Ledger (FWRDOLD) at month end
Step 5 - Report losses
- Report losses to supervisor
- If needed, report suspicious losses to the campus internal auditor 9-2241 or e-mail auditor@ucsc.edu
Last Revised 7/12/2006