Ohio Administrative Code › Title 3341 - Bowling Green State University › Chapter 3341-6 - Compliance with Occupational Safety and Health Standards › Section 3341-6-12 - Cash collection and handling policy

Current through all regulations passed and filed
			 through July 1, 2024
(A)
								Policy statement and purpose
Cash and checks should not be collected
				by departments as a routine procedure. The collection of cash and checks is the
				prime responsibility of the bursar's office and should be done at the bursar's
				office when practical. It is appropriate, in limited situations, that monies be
				collected by departments of the university other than the bursar's office. In
				such cases, prior authorization by the university treasurer is required. All
				cash and checks collected by a departmental/university activity that has used
				or been supported by university resources must be deposited to a university
				account. Such university activities where cash and checks may be collected
				include: performances, competitions, merchandise sales, and social
				activities.
(B)
								Policy
The following cash and check collection
				procedures must be followed, if your department has been authorized to accept
				university monies:
(1)
									All cash and checks collected by a department must be
			 deposited on a timely (generally daily) basis in the bursar's office, unless
			 prior arrangements have been made to use the night deposit facility at a
			 university-designated bank.
(2)
									Checks accepted
			 for payment are to be made payable to Bowling Green state university and
			 immediately stamped "for deposit only--Bowling Green state university general
			 fund" (or other specifically authorized account). Departments are not
			 authorized to cash checks.
(3)
									If possible, a
			 cash register will be used to record the collection of cash and checks. When no
			 cash register is available, pre-numbered receipt forms must be used to record
			 the collection of cash and checks. The procedure to be followed when using the
			 recommended three-part pre-numbered forms is:
(a)
										A copy of the
			 receipt is to be given to the customer. Receipts must be completed indicating
			 the date, customer's name, services rendered or items purchased, and the amount
			 of sale. A separate line is to be used indicating Ohio sales tax collected (if
			 applicable).
(b)
										A copy of the receipt is to be transmitted by the
			 department to the bursar's office together with the monies
			 collected.
(c)
										A copy of the receipt must be retained for departmental
			 files.
(4)
									Any other method of recording the collection of cash
			 and checks must be approved by the business office and reviewed by the internal
			 auditing office prior to implementation.
(5)
									No cash collected
			 shall be expended for departmental/university activities or expenses -- (petty
			 cash funds must be established for this purpose). Individuals responsible for
			 accepting cash and checks may be held personally liable for shortages of funds
			 either through theft, loss or improper disbursement.
(a)
										Occasionally
			 donors will send contributions to the university that might more appropriately
			 be deposited with the Bowling Green state university foundation. These
			 contributions can be deposited with the foundation as long as they do not
			 represent receipts from an activity supported by university
			 resources.
(6)
									Deposits
(a)
										Cash and checks shall be deposited daily unless the
			 amount of collections is small (less than fifty dollars weekly), in which case
			 deposits may be made weekly.
(b)
										When a deposit is
			 made at the bursar's office, attach an adding machine
tape (or other listing) to the copies
				of the pre-numbered receipts. This tape reflects
(i)
											the total amount of goods or services sold, excluding
			 sales tax, )
(ii)
											"the total amount of
			 sales tax, and
(iii)
											the total
			 for the monies being deposited. The bursar's office will enter into an income
			 budget (to be identified by the department) the total amount deposited for
			 goods and services. The amount of sales tax collected will be credited to a
			 balance sheet account.
(c)
										The bursar's
			 office will provide the department with a receipt that will reflect the
			 validated total of the deposit. This deposit receipt should be attached to the
			 department's receipt forms (third copy of the pre-numbered receipts) and should
			 be retained in the departmental files.
(d)
										For units
			 authorized to deposit cash and checks with the bank, a transmittal sheet must
			 accompany the deposit. Transmittal sheets are picked up at the bank by the
			 bursar's office along with the bank's teller deposit receipt and the copy of
			 the BGSU deposit ticket. The bursar's office will make the appropriate entries
			 as noted above. The second (yellow) copy of the bursar's receipt will be sent
			 to the department for verification of the deposit and its
			 recordings.
(7)
									Security of funds
All undeposited funds must be
				maintained in a locked cash box and when not in use shall be kept in a secure
				place, preferably a fireproof safe, to prevent loss. Funds are to be secured
				only in university buildings. Funds are not to be taken home or stored at a
				private residence or in a motor vehicle. Funds, even grouped funds, over one
				thousand dollars must be stored in a fireproof safe in an alarmed room. Any
				further questions regarding security should be directed to public safety,
				investigations division.
(8)
									Audit
			 procedures
All cash accounts are subject to audit
				by the internal auditing office and the external auditors--audits may be
				scheduled or unannounced. If a cash register is used, keep tapes with a copy of
				the deposit slips from the bursar's office. All voided receipts must be
				retained by the department for reference during audits.
(9)
									Loss of
			 university funds
Cash losses shall be reported by the
				custodian to the budget administrator, public safety, and internal auditing
				immediately so that a complete investigation and report can be made of the
				circumstances involved. When the required documentation and security procedures
				have been in place and a theft or mysterious disappearance of cash/checks
				occurs, a five hundred dollar deductible per incident will apply. The five
				hundred dollar deductible or the total loss, whichever is less, will be charged
				to the departmental budget. The remainder of the loss may be reimbursed to the
				department by the risk management department upon notification from internal
				auditing.
If one or more of the following
				conditions are identified during internal auditing's review of the cash loss,
				the custodian may be held personally responsible for the total
				loss:
(a)
										The collection activity has not been properly
			 authorized.
(b)
										The monies collected have been commingled with personal
			 funds, petty cash funds, change funds, and/or BGSU foundation
			 funds.
(c)
										Current, complete records of monies collected and
			 deposits have not been maintained.
(d)
										All monies
			 collected have not been accounted for and reconciled to
			 deposits.
(e)
										Monies collected have not been deposited with the
			 bursar's office or bank on a timely (generally daily) basis.
(f)
										Undeposited cash
			 and checks have not been secured in a locked cash box and/or fireproof
			 safe.
(g)
										Expenditures have been made from the monies
			 collected.
(10)
									Loss of personal funds
Contact public safety when there is a
				loss of personal funds so that an investigation and report can be made of the
				circumstances. However, neither individuals nor departments will be reimbursed
				for the loss of personal funds. Personal funds include flower funds, coffee
				funds, and the like. Contact internal auditing for an audit of the loss if
				there is a question whether the funds are personal or university
				funds.
Date: July 1, 2014