Cash Control

Purpose: To provide information about cash control. The collection and control of cash at the university are key functions of the Office of Cash Management (OCM) which has helpful and important information posted online.

Departments are responsible for complying with cash control policies and procedures as outlined in this chapter and also for developing detailed written departmental operating procedures. Departments are also responsible for training designated employees in cash handling policies and procedures to address the processes and practices within the department. OCM is available for consultation and review of departmental procedures and cash handling practices. They are located in Regent Administrative Center or at cashmgmt@colorado.edu.

Overview

For purposes of this chapter, cash consists of:

  • Paper currency
  • Coin
  • Checks, credit card checks, traveler鈥檚 checks
  • Money orders
  • Credit/Debit card receipts
  • Wire transfers
  • Charge card slips
  • Gift cards or gift certificates

Typically, departments receive cash in the course of their sales activities. Cash can also be received as a result of a vendor refund due to returned goods or services. Cash may be received at the point of service, via US mail, electronically, lock box, the Automatic Clearing House (ACH), internet or payment drop boxes.

Cash operations should be limited to those departments that have the ability to physically secure the cash, implement safeguarding practices and enforce control procedures. Potential risks relative to the cash on-site, and also to the individuals handling the cash, must be continually monitored. Identified risks must receive timely mitigation.

Training

In addition to this chapter, online training is available via SkillPort on portal. In Skillsoft, navigate to 兔子先生传媒文化作品 > Finance topics > CU: Cash Control course.

Applicable Policies

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    • , APS #7003
    • , APS #4012
    • , APS #4015