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Handbook of Business Procedures

Date published: 
Last revised: 
Issued by: 

April 25, 2005
June 11, 2009
Cash Management

 

Part 6. Cash Handling - Table of Contents


6.5. DEPOSITS

A. Persons Authorized to Make Deposits

Only authorized departmental representatives transport deposits. Department heads authorize representatives according to department policy. Departments prepare daily cash reconciliation reports. A consolidated cash report is prepared by someone other than the preparer of the daily cash reconciliation reports.

B. Frequency of Deposits

Deposits should be made daily if they are equal to or greater than $500. Deposits should be made at least weekly even if the accumulated total is less than $500.

C. Means of Deposit

1. In Person

Deposits containing cash must be made in person at the Cashier's Office by a departmental representative. A locked bag must be used, and a receipt must be obtained. At the time the bag is opened and counted, a departmental representative must be present to verify the count. A receipt for the deposit (VC1 document) will be given to the departmental representative.

If a deposit or combined deposits contain more than $5,000 cash, you must have a UT police escort. For cash amounts under $5,000 a departmental/center supervisor or other employee may accompany the courier if the department chooses.

University of Texas Police Department

2. By Campus Mail

Campus mail may be used if the deposit does not contain cash and is less than $100. Departments depositing by campus mail must retain a list of checks in the deposit by name, number, and amount.

3. By U.S. Mail

U.S. mail may be used for deposits from off-campus activities if the deposit does not contain cash. Departments depositing by U.S. mail must retain a list of checks in the deposit by name, number, and amount.

Cashier's Office Location and Contact Information

 

 

Part 6. Cash Handling - Table of Contents