UCSF Helen Diller Family Comprehensive Cancer Center (HDFCCC) Cash and Cash Equivalents Handling Policies and Procedures

Transcription

1 UCSF Helen Diller Family Comprehensive Cancer Center (HDFCCC) Cash and Cash Equivalents Handling Policies and Procedures INTRODUCTION The UCSF HDFCCC will strive to maintain financial policies that comply with UCSF policies and guidelines and all applicable laws and regulations. We establish these departmental policies and procedures to ensure proper cash handling, accountability, and internal controls. I. PURPOSE The establishment of the following policies and procedures are part of the internal control principles for cash and cash equivalents handling and processing, and defines roles and responsibilities related to receipt, safeguarding, reporting, and recordkeeping for all University cash and cash equivalents. The purpose is to ensure that these important University assets are protected, accurately and timely processed, and properly reported. II. DEFINITION Cash Checks, currency, coin, credit card recordings, bank notes, traveler s checks, official checks, and money orders. Checks Any check payable to UC Regents including personal and business checks, cashier s checks, official checks, money orders, and traveler s checks. Cash Handlers Any employee engaged in a cash handling function Cash Handling Station central area of the department that handles cash and/or deposits. Dual Custody A task or an asset performed or held in the control of two people. CCC Cash and Cash Equivalents Handling Policies and Procedures 1 of 5

2 III. POLICY A. Accountability All HDFCCC Cash Handlers and Petty Cash Fund Custodians should have a thorough understanding and adhere to the cash policies and procedures set forth in the UCSF cash policies. Any violation or non-compliance with the UCSF cash policies and procedures can lead to disciplinary actions up to and including termination of employment. The set forth policies and procedures are established to enable better internal controls for cash and cash equivalents that identify: 1. Which individuals receive cash and cash equivalents and for what purpose 2. Where cash or cash equivalents are at all times; and 3. What transpired from the beginning to the conclusion of a cash handling process 4. Each individual who receives or has custody of University cash and cash equivalents must be held responsible for cash and cash equivalents under his or her control. B. Requirements 1. All Cash handlers are considered to be "critical employees" and must undergo fingerprinting. Fingerprinting records must be kept in the employee s personnel file. 2. Cash handler must take the mandatory and yearly refresher trainings. (Please see below Training section.) 3. People who open mail are considered Cash Handlers and must be fingerprinted as well. Mail should be opened by two people and checks must be endorsed immediately. 4. Deposit check with double custody. Do not transport deposit to bank. All deposits must be made in a building drop safe location. CCC Cash and Cash Equivalents Handling Policies and Procedures 2 of 5

3 C. Separation of Duties To ensure that receiving, collection, depositing, recording and accounting cash handling duties are not handled by a single individual, at least two qualified individuals must be assigned to carry out key duties of the cash handling process. D. Security Concerns 1. Individuals who handle cash and cash equivalents shall be protected from physical harm. 2. Cash and cash equivalents in the custody of the unit are protected from loss. Cash and cash equivalents that are kept overnight must be locked in a secure place. The amount of funds held overnight should be minimized. 3. All checks must be deposited within 2 working days upon receipt. All receipts, deposits and transactions must be recorded by using the Departmental Check and Cash Log (see attached Log). Specific accounting procedures must be followed for depositing and recording cash and equivalents to ensure proper internal controls and separation of duties. 4. Technology resources involved in processing cash and cash equivalents (i.e., hardware and confidential personal information) are protected from loss, corruption, or compromise to confidentiality. E. Training 1. The online class UCSF Cash Policy Highlights is mandatory every fiscal year by all Cash Handlers. 2. Cash Deposit Basics is a 3-hour classroom training. This class is for Cash Handlers that make deposits. Register for the class at IV. PROCEDURES CCC Cash and Cash Equivalents Handling Policies and Procedures 3 of 5

4 A. Role and Responsibilities Cash Handlers here are defined as any employees engaged in a cash handling function. For the HDFCCC, Cash Handlers are employees who handle checks, cash and deposits. Faculty Assistants shall be considered Cash Handlers if they engage or perform one of the functions mentioned above. For example, a Cash Handler is an employee who opens mail containing checks. Within the finance team, the individuals who process and deposit cash and cash equivalents are considered Cash Handlers. Accounts Managers are analysts who manage a fund portfolio and maintain control to ensure that all cash and cash equivalents are deposited into the correct account. Ledger Reconcilers are members of the finance team who review and reconcile deposit slips and logs to the Weblinks general ledger. The HDFCCC Cash Coordinator is responsible for ensuring that these policies and procedures are implemented and current. The Cash Coordinator is the point of contact for all issues related to Cash and Cash Equivalents. The Director of Administration has overall responsibility for the cash handling process. B. Reconciliation Per SAS 112 audit requirements, monthly reconciliation of deposit records must be performed to ensure that all deposits are deposited into a University depository account and properly recorded on the general ledger. The purpose is to ensure that Cash and Cash equivalents received, deposited, and reported are in an accurate and timely manner and transactions for such activities posted to general ledgers are reconciled. Any discrepancies must be disclosed to the appropriate authorities and resolved immediately. All unexplained fund losses must be reported to HDFCCC Cash Coordinator, who in turn will coordinate required notification to the UCSF Police, the Campus Cashiering Coordinator and the School of Medicine Controller's Office within 24 hours. V. OTHER INFORMATION CCC Cash and Cash Equivalents Handling Policies and Procedures 4 of 5

5 Should there be any changes in depositors, back up depositors, and journal preparers, the HDFCCC Cash Coordinator should be contacted. The Cash Coordinator is responsible for maintaining an updated list of approved Cash Handlers and the training record. In case of an emergency or disaster, the departmental Cash Coordinator will coordinate and work with the campus Controller's Office Cash & Controls Unit to advise cash handlers regarding how to respond Who to Contact Questions concerning cash policy and handling should be directed to Daniel Chao, the HDFCCC Cash Coordinator at (415) or The Campus Cash Coordinator and Petty Cash Coordinator is Toni Sims. She is available at (415) or References Tools, policies and procedures may be found at the Controller's Office websites under Cash & Controls at and CCC Cash and Cash Equivalents Handling Policies and Procedures 5 of 5