Any settlement for losses resulting from the improper handling of cash on the part of an employee will be reduced by the amount of a deductible, which varies from time to time. Shortage of funds resulting from an employee's improper safeguarding or due to misuse becomes the liability of that individual and must be repaid by him or her. No part of any funds collected may be used to pay bills or expenses of any kind, nor may the funds be deposited other than with the OBA Cashier, unless authorization has been received for the use of a bank depository or direct deposit to a University bank account. The Office of Business and Financial Services approves and controls the printing and the format of report forms for units authorized to collect cash. The Office of Business and Financial Services is available for consultation and review of unit procedures.
Units are responsible for training designated employees in fund handling policies and procedures.
It is the responsibility of all authorized cash handling units to exercise reasonable care in screening cash transactions for counterfeit currency. If a questionable bill is received, the unit should retain possession of the bill and contact the University Police immediately. Do not return the bill to the payor. Additional information regarding counterfeit currency is available from the OBFS Cashier's Office. Each unit authorized to collect cash is responsible for exercising internal controls consistent with its approved, written internal procedures.