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Cash Receipts Policy

Introduction

Department heads and managers within the California State University (CSU) system that collect State funds are primarily responsible for ensuring that adequate control procedures have been put in place and are maintained, in order to secure University collections and change funds. As a tool and reference guide, the "Cash Receipts: Policy and Procedures Manual" is provided as a means of establishing control standards relative to cash handling.

Background

As a result of FISMA audit findings in 1999, the campuses of the California State University were asked to evaluate their cash handling requirements. Each campus was directed to compile a cash receipts manual that would address State and CSU rules and regulations. This manual has been developed for all Universities to utilize as a uniform and consistent process in sustaining the guidelines needed to meet accounting and auditing requirements.

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Purpose of the Manual

The purpose of the "Cash Receipts: Policy and Procedures Manual" is to:

1. Ensure that controls are established over all forms of payments (cash, checks, credit cards, waivers, and Electronic Fund Transfers (EFT);
2. Ensure that payments are deposited promptly in University bank accounts;
3. Ensure that cash receipts are protected from misappropriations;
4. Ensure that physical access to cash receipts and cash receipt records are limited to authorized personnel;
5. Properly inform and train university and satellite cashiers regarding the rules, regulations, and internal controls about cash collections;
6. Provide a uniform set of accounting rules and regulations to cashiers and accounting personnel in the areas of cash receipts, reconciliations, refunds and waivers;
7. Improve personal relations between Accounting Services and the campus community involved in cash collections; and
8. Eliminate audit findings by complying with state audit regulation.

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Principles of the Manual

1. All procedures must be consistent with law and CSU policy, including the following:
   1. The Government Code, as it applies to the CSU
   2. The Education Code, as it applies to the CSU
   3. The annual budget act and related legislation, as it applies to the CSU
   4. Title 5 of the California Administrative Code, as it applies to the CSU
   5. Standing Orders of the CSU Trustees
   6. CSU Executive Orders
   7. Other official statements of policy issued by the CSU Trustees, the CSU Chancellor or their designees
2. Procedures should be explicit as to whether the actions contained therein are required, suggested or merely examples of a possible approach.
3. Required procedures should be limited to the minimum necessary for compliance with law and policy, for adequate internal control, or for sound management practice, as agreed upon by the campuses (e.g. via declaration by CABO or the FOA).

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