B-9. Cash Controls
The director of Accounting Services has been given the responsibility by the chancellor and vice chancellor for Administrative Affairs to enforce the policies and procedures for controlling, accounting for, and safeguarding cash at this campus. Any department receiving income must comply with University policy FIN-TRE-VI-120, and must contact the Accounting Services for approval of the activity prior to undertaking any actions.
Specifically, Accounting Services is responsible for
- collecting all fees and receipting of all other income;
- issuing all refunds;
- preparing bank deposits;
- issuing change funds to sub-stations;
- assessment of student fees.
To deposit cash and check revenue, the department will use the cash receipt (CR) document in KFS. For assistance with completing this document, contact Accounting Services or utilize the KFS Support Documentation for individual documents on the FMS website.
When depositing income, the Office of the Bursar requires proof of sales documentation to be submitted with the cash receipt document and will hold the deposit in safekeeping until the documentation is provided before processing the deposit into the department’s account. Below is a summary of what is required when depositing money with the bursar office.
PLEASE NOTE: Departments should never retain copies of any checks.
- Paper copy of the KFS cash receipt documentation
- Cash and check related to the revenue
- Sales reconciliation sheet only required when a cash drawer is used
- Proof of sales and/or assessment of revenue
PROOF OF SALES EXAMPLES:
- Entertainment Events: Departments use a roll of pre-numbered tickets. Tickets can be purchased or are available in the bursar office. This would be appropriate at events where a small fee is charged, for example a $2 per person entry fee.
- Merchandise/Material Fee-Based Events: Departments must use multiple copy pre-numbered receipts. Receipts can be purchased or are available in the bursar office. This would be appropriate at events where, for example, a material entry fee of $20 per person is charged or when selling T-shirts or other types of goods sold over time. If the deposit includes sales of goods, the department must also turn in a copy of the purchase invoice for the products purchased for resale and all receipts of goods sold. This documentation must reconcile to the cash receipt amount.
- Cash Register Tapes: Departments can use cash register and register tapes associated with sales.
- Registration and Conferences: Departments must turn in a list of attendees or a sign-in sheet from the event.