Cash Collection and Deposit

Title: Cash Collection and Deposit
Policy Owner: Office of the Bursar
Applies to: Faculty, Staff
Campus Applicability: Storrs and Regional Campuses
Effective Date: August 19, 2014
For More Information, Contact Office of the Bursar
Contact Information: (860) 486-4830
Official Website: http://bursar.uconn.edu/

 

REASON FOR POLICY:

The purpose of this policy is to ensure compliance with Section 4-32 of the Connecticut General Statutes for accounting and depositing of any cash received by the University.

APPLIES TO:

This policy applies to any department or organization receiving funds on behalf of the University.

DEFINITIONS:

The term cashincludes currency, checks, money orders, negotiable instruments, and charge card transactions.  University funds are monies received from tuition, contracts and grants, (delivery of) revenuesfrom University services, state and federal appropriations, gifts, and all other sources of revenueor expense reimbursements, whether restricted or unrestricted as to purpose or use.

POLICY STATEMENT:

Any department or unit at the University receiving cash must deposit to the Office of the Bursar within 24 hours of receipt (Section 4-32 of the Connecticut General Statutes).

ENFORCEMENT:

Departments are responsible for complying with the policies and procedures for cash handling and depositing outlined on the Office of the Bursar website www.bursar.uconn.edu.

Any missing funds must be immediately reported to the University Police Department and the Office of the Controller. The results of the investigation will determine the subsequent actions. See also the “Policy on the Prevention and Reporting of Fraud and Fiscal Irregularities” at http://policy.uconn.edu/?p=6794.

Violations of this policy may result in appropriate disciplinary measures in accordance with University By-Laws, General Rules of Conduct for All University Employees, applicable collective bargaining agreements, and the University of Connecticut Student Conduct Code.

PROCEDURES/FORMS:

Please consult the Bursar’s website at www.bursar.uconn.edu for proper cash handling controls for your department.