Operating Policies and Procedures Manual

Effective Date:  07/01/97
Policy Number:  05-11
Section:  Finance and Administration
Subject:  Cash Receipts 

POLICY

All cash and checks received by a department shall be deposited regularly at the cashier's window in the Student Union.  All income for deposit must be hand carried to the cashier's window regardless of the amount to be deposited.  The cashing of checks made payable to Arkansas State University is expressly prohibited.

1. All monetary gifts to the university which are received by a department shall be forwarded immediately to the Development Office.

2. All departmental monies shall be receipted by an official university receipt and deposited daily except when specifically authorized otherwise by the treasurer. Receipt books may be purchased for $9.00 at the cashier's office in the Student Union.

1. Deposits are made at the cashier's window in the Student Union.
   1. The following information must be provided with each deposit:
      1. Name of individual to whom receipt should be written.

      2. If employee or student, provide identification number.

      3. Description of each entry on the receipt.

      4. Account number(s) to which deposit should be credited.

      5. Amount of deposit.

   2. Where individual deposits are specifically applicable to different funds, descriptions and amounts allocated to each fund must be clearly set forth.

2. All deposits are to be made intact at the cashier's window; no part may be used for any other purpose such as making refunds, providing cash for establishing change funds or paying bills or expenses of any kind.

3. Each check should be restrictively endorsed (for deposit only) by the department.  Endorsement may be by stamp or in writing.

4. The university account number the check is to be deposited into should be recorded on the back of the check.

5. A tape of the total of the checks being deposited should be included with the cash transmittal.

6. If the net deposit (gross receipts less full amount of change fund) differs from gross cash receipts as determined from receipts written or sales slip totals, the difference is reported as a cash shortage or overage.
1. Use of any funds for the purpose of adjusting cash for deposit to agree with total cash sales or receipt is prohibited.
7. If a check is either presented or mailed, the cashier should compare the check against the following requirements:
   1. Made payable to Arkansas State University

   2. Current date, not postdated

   3. Legible

   4. Written in ink, not pencil

   5. Signed

   6. Payer's address printed or written on check

   7. Unaltered

   8. Intact, not torn or mutilated

      Note:  Checks not meeting the above requirements are unacceptable and another check should be obtained.

8. If a check is presented, identification is required.

9. Money orders or traveler's checks must be endorsed in the cashier's presence.