Receipting/Depositing Collected Monies Policy

Controller's Office Policy CO 08 95

Purpose: Procedures for the receipting and depositing of collected monies to maintain Financial Control.

Scope: Applies to all employees or organizations acting on behalf of The University of North Carolina at Pembroke.

Policy: All funds collected at locations outside the Cashier's Office, with the exception of UNCP approved receipting equipment currently in the Bookstore, GPAC, and University Center, shall be receipted by UNCP receipt books and deposited with the University Cashier's Office.

Procedures for the use of receipt books:

1. UNCP receipt books and endorsement stamps are issued to employees by the Cashier’s Office. The employee who is issued a receipt book will receive a copy of this policy and also sign a copy of the policy accepting personal responsibility for the receipt book and the collections until the receipt book is returned to, and the monies are receipted in, the Cashier's Office. If multiple books are needed, and sufficient justification is provided, the employee signing for the books will remain personally responsible for all books, regardless of who actually issues the receipts.

2. Money collected should be kept in a secure location and no personal checks shall be cashed out of or expenses paid from receipt money. Employees shall not commingle personal monies with receipt book monies.

3. Receipts must be completed with date, name of person paying, amount, what is being paid (fax, transcript, etc.) and the signature of the employee collecting the money. Receipts must be written in the receipt book so that all three parts of the treated receipts are completed at one time and are identical. The three-part receipts are distributed as follows:

(a) The white copy (original) is given to individual making payment.

(b) The pink copy is attached to the deposit form that is filed with the Cashier's validated receipt. Receipts are to remain in numerical order.

(c) The yellow copy remains attached in receipt book

4. Checks must be restrictively endorsed at the time of receipt using the stamps provided by the Cashier’s Office.

5. Credit Card receipts must be accompanied by credit card information. Payment by credit card shall be noted on the applicable receipts.

6. All 3 parts of voided receipts must be left in the receipt book -- white, pink, and yellow -- clearly marked VOID on all 3 parts with the signature of person voiding the receipt and the signature of the supervisor/advisor with a brief explanation. If the white copy is not with the voided pink and yellow copies, the department will be charged with a shortage for the amount of the receipt.

7. Receipts shall be deposited in the Cashier's Office at least weekly and no later than 3 p.m. on Friday. Any day that receipts consist of $150.00 or more in CASH (not including checks), a deposit must be made that day for all receipts. This procedure must be followed even if it requires deposits every day.

8. A completed deposit forms include date, fund and account numbers, amount, description of type of funds receipted (transcript, fax, etc.), total deposited, person making the deposit, comments if desired, ending receipt number from prior deposit, from and to receipt numbers covered by this deposit, and a breakdown of type of collections – total cash and checks with a subtotal before adding credit cards followed by a grand total.

9. Receipt books issued for special events will be returned when the deposit is made at the Cashier's Office, but no later than the first work day after the event. If an exception is needed, please request this in advance.

10. Receipt books/collections are subject to periodic audits by the Internal Auditor and the Office of State Auditor as well as the examination by the Cashier’s Office at the time of deposit and book return.

11. By UNCP Executive Order, the Controller is required to report non-compliance of any cash management policy to the appropriate vice chancellor, the Chancellor, and the Vice Chancellor for Business Affairs. This reporting will be by copy of an email sent to the employee not in compliance.

12. Certification of employee receiving UNCP receipt book:

Signature _________________________________

Date _________________________________

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