Cash and Check Handling

Responsible Officer: Vice President for Business Affairs and Controller

Sponsoring Department: Accounting Services

Revision Date: 06 March 2008

Errors or changes to: aim@uta.edu

Procedures
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    Deposits of Receipts by Departments

    1. UT System Administration Policy UTS166, Cash Management and Cash Handling Policy, requires that money from all sources received by the University will be deposited in the Bursar's Office on a daily basis if the receipts of cash and/or checks total $500.00 or more, and twice a week if these receipts total less than $500.00. The department should make out a Departmental Deposit (Form 2-7) to accompany the deposit. The Departmental Deposit Slip should indicate the account number and title to receive credit along with the appropriate object code(s) and amount(s). A brief description of the deposit should be placed on the deposit slip.

    2. The cashier will verify the amount of the deposit with the deposit slip, stamp it PAID, and return one copy to the individual making the deposit. Departmental personnel should reconcile the cashier's receipt to the monthly Statement of Account.

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      Collection of Cash (or Checks) and Cash Receipt Books

      1. Cash deposited with the university must be accompanied by a UTA Cash Receipt from the departmental cash receipts book available from the Bursar's Office. (See Cash Receipt (Form 2-11) for an example). The cash receipt books are in four parts. The top copy (white) is given to the individual who makes a payment to the department. The second copy (blue) is submitted along with the cash and a departmental deposit slip to the Bursar's Office. The third copy (green) is retained by the department as their record of the transaction. The fourth copy (yellow) remains in the cash receipt book. Departments who have numerous cash transactions, such as concession sales or cash register sales, may total up their cash and make a single cash receipt to accompany the cash being deposited at the Bursar's Office. Departments needing escort assistance should work directly with the UTA Police Department. The departmental representative making the deposit must wait for the completion of the transaction at the Bursar's Office.

        A new cash receipt book will be issued by the Bursar's office upon presentation of the depleted book.

      2. Cash, checks, or receipts left at the Bursar's Office with no departmental representative will not be processed and will remain in a sealed envelope until a departmental representative is present.

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        Check Handling

        1. University of Texas at Arlington should be stamped or written on the payee line of any check that does not have UTA, UT-Arlington, University of Texas at Arlington, or any other description that does not describe this university.

        2. The official Restrictive Endorsement Stamp (Form 2-9) will also be impressed immediately on the trailing edge of every check received.

        3. A log of checks received through the mail must be maintained to reflect the following information:

          • Received From
          • Reason for check
          • Amount of check
          • Date received and initials of employee receiving the check
          • Account number credited
          • University cash receipt number (if appropriate)
          • Date of receipt

          Logs will remain in departmental files for review by auditors. Daily Check Log (Form 2-10) is an acceptable format for maintaining logs of check received via the mail.