COLLEGE STATION INDEPENDENT SCHOOL DISTRICT QUICK REFERENCE GUIDE FOR CASH HANDLING, DEPOSITS, AND PETTY CASH

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1 QUICK REFERENCE GUIDE FOR CASH HANDLING, DEPOSITS, AND PETTY CASH Contact the business office ( or if you have any questions about these procedures and to order more deposit slips, receipt books, locking bank bags, or deposit stamps CASH HANDLING 1. Receipts always create a receipt for any cash, check, or money order received 2. Dual Control Always count cash in front of the person giving it to you. 3. Count Sheet use Daily Deposit Form to help prepare deposit slips 4. Make Deposits Daily Our facilities are not designed to safeguard money overnight. 5. Campus Mail Never send cash or checks via Campus Mail 6. Deposit All Money Collected Do not make change, cash checks, or exchange checks for cash from cash received 7. Purchases Do not use cash from fundraisers or donations to purchase items. DEPOSITS 1. Leave one copy of the deposit slip in the deposit book 2. Deposit slips should include the following: a. Date and amount of the deposit b. Budget code and Account code to be credited for the deposit c. Brief description of the deposit d. Receipt numbers for funds included in the deposit e. 1 st initial and last name of person filling out deposit slip particularly if it is not the school secretary. This helps the Business Office know who to contact if there is a question about the deposit. f. Use bank provided endorsement stamp for all checks being deposited PETTY CASH 1. Send Reconciliation Report to Business Office monthly (around the 15 th ) even if you have not had any Petty Cash expenditures since the last Reconciliation. 2. DON T reimburse Sales Tax. 3. DON T reimburse for Gift Cards. 4. DON T reimburse for items over $50 5. DON T cash or exchange checks from Petty Cash funds. 6. DO make change from Petty Cash funds. 7. DO make sure all receipts are signed. 8. DO follow same vendor guidelines as any other Accounts Payable purchases. Page 1 of 1 Revised 8/7/2014

2 DEPOSIT PROCEDURES Bank Deposits 1. Use bank provided deposit slips. The Business Office will reorder when needed. Reordering may take up to three weeks and there will be no charge. 2. Deposit slips should include the following: (see example below) a. Date and amount of the deposit b. Budget code and Account code to be credited for the deposit c. Brief description of the deposit d. Receipt numbers for funds included in the deposit e. 1 st initial and last name of person filling out deposit slip particularly if it is not the school secretary. This helps the Business Office know who to contact if there is a question about the deposit. f. Use bank provided endorsement stamp for all checks being deposited 3. Put the deposit in a locking bank bag. If you have several deposits to send put them in individual envelopes or paper clip the items for each deposit together before placing them in the locking bank bag. 4. Call or Jennifer Hairell (5449) and one of the Purchasing couriers will take the deposit to bank. 5. Business Office will send a copy of the bank encoded deposit slip to you. WHO FILLED OUT DEPOSIT SLIP DESCRIPTION BUDGET CODE RECEIPT NUMBER 4-Part Deposit Slips 1. Keep one copy in the deposit book. You can reference this later if there is a question about the deposit and you have not received the validated copy back from the Business Office. 2. Send the remaining three copies to the bank. The bank will process the deposit and return two of the copies to the Business Office. 3. The Business Office will then return the bank validated deposit slip to you and keep the other for their records. Page 1 of 1 Revised 8/7/2014

3 CASH HANDLING 1. Receipts always create a receipt for any cash, check, or money order received 2. Dual Control Always have two people present when money is being handled. It is a good practice to never allow yourself to be alone with the money. a. Both people present when the money is counted should sign the Daily Deposit Form. 3. Count Sheet use attached Daily Deposit Form to help prepare deposit slips 4. Make Deposits Daily Our facilities are not designed to safeguard money overnight. 5. Campus Mail Never send cash or checks via Campus Mail 6. Deposit All Money Collected Do not make change, cash checks, or exchange checks for cash from cash received 7. Purchases Do not use cash from fundraisers or donations to purchase items - Three-part Cash Receipts should be written for all money received immediately. One copy should be given to the payee and another copy maintained in the Cash Receipt book. The third copy should be attached to any deposit documentation and filed with a copy of the deposit slip. o Do not pre-date or pre-sign receipts o It does not matter who the money is coming from, so even if a co-worker or your boss is giving you funds write them a receipt. o When cash is received make sure to count it in front of whom ever you are receiving the money from o Money or funds must be deposited in the same denominations received. - All copies of voided cash receipts should be retained in the cash receipts book. o Staple the original receipt back in the book with a detailed note as to why the receipt was voided. o Do not alter the receipt, if a change needs to be made then void the receipt and create a new receipt. - The cashing of checks out of cash receipts, fundraising funds, fees, petty cash, or any other funds collected is prohibited. - Do not make change from cash receipts, fundraising funds, fees, petty cash or any other funds collected. - Incoming checks should be restrictively endorsed immediately upon receipt with an endorsement stamp that has the district name, the account name, and the bank account number. - Any monies received should be deposited promptly (within 3 days of receipt) in the same form receipted. Money should be secured in a locking bank bag and locked in the school safe until it can be deposited. Money stored in the safe should not be held over weekends or school holidays. The bank has night deposit boxes if necessary. Page 1 of 2 Revised 11/2013

4 - Funds should not be kept in classrooms, personal wallets or purses, or at home. - Money collected should not be used for needed items, but deposited. Checks should be written for all items purchased. - Receipt numbers and/or range of receipt numbers should be written on all deposit slips. - All monies received for deposit should be counted and receipted in the presence of the individual turning in the money and the individual turning in the money should initial the receipt. - All checks for deposit should be listed separately on a deposit slip or supported by an adding machine tape. A minimum of two adding machine (calculator) tapes should be run to ensure accuracy. A good practice is to write the number of checks deposited on the deposit slip when the checks are too numerous to list. - Post-dated checks should never be accepted. A post-dated check is a check that has been dated after the date the check is given to the payee. - Match the bank validated deposit slip with the original daily deposit back-up documents. Page 2 of 2 Revised 11/2013

5 RETURNED CHECKS Occasionally, a check which has been deposited is returned by the bank for a variety of reasons. (For example, checks may be returned for insufficient funds or a closed account.) When a check is returned by the bank, follow the procedures below. 1. If the NSF check is written toward the General Fund (199-) or campus Activity Funds (461-), the Business Office will: a. Send a copy of the returned check to the applicable campus or department for their records b. Notify the writer of the returned check via letter and request that the funds be redeemed via cash or money order c. Collect the funds via cash or money order only. d. The funds will be deposited into the appropriate budget code and account code i. General Fund 199Y NSF ii. Activity Fund 461Y ORG NSF e. Collect the $15.00 returned check fee via cash or money order only and deposit into the appropriate budget and account code i. General Fund 199Y FEE ii. Activity Fund 461Y ORG FEE f. If the check was deposited more than 30 days after it was written the $15.00 returned check fee can be waived. 2. If the check is for a Trust & Agency account, the school/department secretary will: a. Receive a copy of the returned check from the Business Office b. Notify the writer of the returned check c. Request that the funds be redeemed with cash or money order. d. Deposit the collected funds into the bank account that the NSF check was originally written toward. e. Collect the $15.00 returned check fee cash or money order only and deposit the fee into the bank account that the check was written toward. f. If the check was deposited more than 30 days after it was written the $15.00 returned check fee can be waived. Page 1 of 1 Revised 8/7/2014

6 DAILY DEPOSIT FORM Date: Campus/Department: Contact Name: Bank Account Funds Deposited Into: Description of Deposit: Budget Code: _ _ _ _ Coins Currency Qty. Qty. Pennies x 0.01 = Ones x 1.00 = Nickles x 0.05 = Fives x 5.00 = Dimes x 0.10 = Tens x 1 = Quarters x 0.25 = Twenties x 2 = Halves x 0.50 = Other = Sub Total Sub Total TOTAL CASH $ TOTAL CHECKS $ TOTAL AMOUNT OF DEPOSIT $ Receipt Numbers in Deposit Prepared by: Verified by: