Cash handling at all University of Texas component institutions is governed by the University of Texas Board of Regents policy, UTS166 (PDF).
All employees, whose duties include cash handling, are required to take the CW 505 Cashier Training in the Compliance Training Module.
All checks received should be reviewed, endorsed, and logged immediately upon receipt.
All cash and checks should be thoroughly inspected for authenticity and accuracy following the university’s guidelines:
When accepting cash and checks you must provide the customer with a serial-numbered receipt and keep a copy for your records.
Prior to being deposited, all cash and checks must be kept in a secure/locked location. Never leave cash or other forms of money unattended or in an insecure manner.
Deposits should be made daily, if they total $500 or more or weekly if less than $500.
The cash handling and record-keeping functions should be separated. If the office is small, and separation of duties is impracticable, the supervisory personnel who do not handle cash should perform specific verification that provides for reasonable and sound internal controls.
All units must follow University guidelines for Records Retention related to "Cash Receipts and Related Records."
Each department shall have the following in a documentation file:
Last Modified: 31 October 2011
