1,061: Deposits of Cash Receipts
Last Revised: January 2010
All funds from whatever source for which the university or a university-related entity is responsible are to be deposited on a timely basis with the Cashier's Office or with the UNR Foundation accounting office, as appropriate.
Requirements and Restrictions:
- All funds received must be deposited promptly with the Cashier's Office or with the UNR Foundation accounting office.
- Receipts in excess of $500 must be deposited within 24 hours of receipt.
- Lesser amounts must be deposited within 72 hours of receipt.
- Pre-numbered receipts must be issued by the collecting department for all cash/checks received which are not subject to cash register, ticket sale, or other appropriate control.
- Checks should not be accepted for amounts in excess of the purchase or originating transaction.
- Under no circumstances shall any member of the faculty, staff or student body realize personal gain through the handling of such funds.
- Deposits received in the Cashier's Office or the UNR Foundation accounting office must be counted and receipted in the presence of the courier. Under no circumstances are funds to be left uncounted. Funds left uncounted will not be receipted and credited to the department's revenue account until a representative is present to witness the count.
- Departments with substantial cash receipts will be required to write up their own bank deposits. These deposits will be delivered to the Cashier's Office or picked up for delivery to the bank by armored car service at the department's expense. Instructions and bags for preparing deposits will be provided by the Cashier's Office.
- Cash may be secured overnight or during the weekend by delivering said funds in sealed bags to the Cashier's Office during normal business hours, or, in the case of gift deposits, to the UNR Foundation accounting office. Deposits of cash from other than local Reno departments/offices must be directly deposited into the Bank of America. Arrangements for these actions must be made through the Cashier's Office, where written instructions and deposit slips for these procedures are available. Cash collected during weekend or holiday events or functions must be secured in a safe until the cash can either be delivered to the Cashier's Office or picked up by the armored car service during normal working hours. Cash security questions should be addressed with the Controller.
- In no event should cash or coin be sent through campus mail for deposit. Checks sent through campus mail must be endorsed on the back using a university endorsement stamp.
- Neither the Cashier's Office nor the UNR Foundation accounting office will assume responsibility for funds not handled in accordance with these procedures.
- No bank accounts or investment accounts other than those specifically approved by the Board of Regents are allowable for the university or any university-related entity.
- Petty cash/change funds must be specifically approved by the Controller and recorded on the university books. Detailed petty cash/change fund procedures must be followed.
- Transport of cash in the amount of $1,000 or more must be performed by two employees.
- Supporting documentation for cash receipts is subject to the records retention schedule approved by the State Records Committee under the General Retention Schedule distributed by the Nevada State Library and Archives, Records Management Program. Generally, these records should be retained for a period of six years from the fiscal year to which they pertain. Cash receipts documentation is comprised of relevant evidence supporting the amount and the type of receipt. Such items as sales reports, receipt books, cash register tapes, close-out sheet and duplicate deposit slips would be considered supporting documentation. These records must be retained by the office or department collecting the cash receipts and preparing the deposits.
- For departments that have multiple cashiers the cash drawer must be reconciled at the end of each shift or whenever the cashier changes. The reconciled receipts for each cashier must be sealed in a tamper proof bag for deposit.
- Cash receipts must be deposited intact. Cash may not be held back to create a petty cash fund or to make purchases.