Original Date: 10/1/1995 * Last Revision Effective: 5/6/2025
Policy Contact: Vice President, Administrative Services
Purpose
The purpose of these procedures is to ensure that cash collections are handled in a secure manner.
Procedures
According to security requirements spelled out by the office of financial management and the state auditor’s office, authorization for petty cash and change funds is approved and monitored for internal controls by the executive director of finance. The five primary areas within the college that are authorized to collect cash are:
- Student financial service cashiering;
- Athletics;
- Food services and events;
- Student business center;
- Theatre arts.
Areas of the college other than those listed above must make special arrangements with the finance office prior to any event (e.g., fund-raisers, student events, etc.) at which money will be collected.
All payments must be properly receipted, reconciled, and deposited within 24 hours.
Money from receipts in high-volume areas and offices (such as international student programs, early learning center) should be transported in locked bags by public safety staff.
Change funds (cash box money) must be stored in locked bags in a safe overnight.
Revision History
Original 10/1/1995
Revisions 3/22/2005; 5/21/2009; 9/24/2012; 10/19/2015; 10/19/2020; 5/6/2025
Approved By
President’s Cabinet
Last Updated May 7, 2025