CASH COLLECTION PROCEDURE STATEMENT
The University of West Florida's cash collection procedures require each area receiving cash to be approved by the Associate Vice President for Finance/Controller and to be verified as an authorized cash collection site. A cash collection site is defined as a department which handles cash on a regular basis. While there are departments with collections of cash that are not recognized as official cash collection sites, they must follow the same cash handling procedures that apply to the cash collection sites. All cash collection sites that accept payment of any type (cash, check, debit/credit cards, etc.) must comply with the guidelines and procedures issued by the Associate Vice President for Finance/Controller.
WHO SHOULD KNOW THESE PROCEDURES?
Any University employee entrusted with the responsibility of receipt, deposit, and/or reconciliation of cash for university related activities. Annual review of the Cash Collection_DepositandTraining (ppsx) and the Cash Collection_Dept Policy (pdf) by current employees is required. New employees must comply with these requirements prior to starting cash handling duties.
HOW DO I GET APPROVAL FOR CASH TRANMITTALS?
Complete the Cash Collection_DepositandTraining (ppsx) and review the Cash Collection_Dept Policy (pdf). Return the signed acknowledgement form at the end of the Policy along with the Request for Transmittal of Collections (pdf) to Linda Howard in Building 20E or email@example.com
A department that desires the privilege of becoming a cash collection site must submit a written request asking for authority to be established as a new cash collection site. Each department must abide by The University of West Florida's Cash Collection Policy which addresses cash handling responsibilities. Eash cash collection site is responsible for the reconciliation of all deposits. Each cash collection site is also responsible for conducting an annual Cash Collection_Self Audit (pdf).
For departments who accept payments via credit card, information regarding Payment Card Industry Data Security Standards compliance can be found on Financial Services Credit Cards web page.
REVIEW AND APPROVAL OF CASH COLLECTION SITES
Review and approval of new cash collection sites are conducted by the Associate Vice President for Finance/Controller. Periodic reviews of cash collection sites may be conducted by the Office of Internal Auditing and Management Consulting. Departments not complying with approved procedures may lose the right to function as a cash collection site. Requests to become a cash collection site should be submitted as indicated below:
Associate Vice President of Finance/Controller
Financial Services Office, Building 20E
Attn: Linda Howard, Assistant Controller