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Adopted by President’s Cabinet 09/25/2018

Departments must be authorized by Business Affairs to accept cash and/or checks on behalf of the College. This authorization must be granted prior to accepting funds or planning events in which cash receipting will be necessary at a location other than the Business Office.

Each department or unit is responsible for the funds it receives for the College. Cash receipts must be officially recorded either by cash register or in official pre-numbered receipt books. All checks must be made payable to "East Georgia State College." Checks should not be made payable to departments, department heads or any College officials or employees designated by name. If checks are received with the payee improperly designated but yet deemed acceptable for deposit to EGSC, they should be appropriately endorsed as payable to EGSC so that they can be properly deposited to the credit of the College by the Business Office. EGSC does not accept counter checks or third party checks.

Cash receipts should never be used as a means of “petty cash” to purchase items. Established purchasing procedures must be utilized.

Cash Handling Procedures for Student Clubs and Activities

Must be in accordance with the procedures established in the Student Handbook (PDF).

Daily Cash Deposits

Funds received by departments or units of the College in Swainsboro should be deposited on a daily basis in the EGSC Business Office located in the Student Services Complex, or into the appropriate banking institution in Statesboro and/or Augusta.

As a general rule, all funds received by a department or unit should be deposited no later than the next business day following the date of receipts. For instances in which a unit receives small amounts of cash or checks (totaling less than $25) which would not warrant a daily trip to the Business Office, the funds may be held no more than five business days. Each department/unit must establish operating procedures to ensure compliance with the daily or weekly deposit requirements.

ALL CHECKS PAYABLE TO EGSC MUST BE DEPOSITED TO COLLEGE ACCOUNTS. FUNDS MAY NEVER BE DEPOSITED TO THE ACCOUNT OF AN INDIVIDUAL OR AN ACCOUNT WHICH HAS NOT BEEN SPECIFICALLY AUTHORIZED BY THE VICE PRESIDENT FOR BUSINESS AFFAIRS.

Checks and cash must be kept in secure locations at all times.

A Deposit Transmittal Form should be used as a transmittal sheet for deposits. The Deposit Transmittal Form should include the receipt numbers, the date of the deposit, the source of the funds and the total funds included in the deposit. The deposit is to be balanced to the cash, checks and charge card slips attached to the Transmittal Form. The Transmittal Form should be signed by the individual responsible for the collection of the cash receipts in the department/unit.

Receipt books are to be used for all receipting and the forms are to be distributed as follows: the original is to go to the Payer, the second copy is to be attached to the Deposit Transmittal Form and the third copy is to remain in the receipt book so that a numerical history of receipting remains intact. The cashier will maintain a log of receipt books and can identify the user department by the receipt numbers. When all the available receipts have been used in a receipt book, the completed receipt book should be returned to the Business Office. New receipt books may be obtained in the Business Office.

Custody and Safekeeping of Funds

Department heads should make certain that proper safe-keeping facilities are available and that proper safeguards are taken to protect College funds until they are appropriately deposited with the Business Office or as otherwise designated. Cash or checks payable to the College should never be transmitted through campus mail. The number of employees having access to monies stored in a department or unit should be limited. Cash should not be left unsecured overnight. If unusually large sums are on hand after normal business hours, arrangements should be made for use of the night depository located in the Business Office. A Public Safety Officer should be dispatched to transport the deposit to the proper secure location in the Business Office.

Check Cashing Privileges for Employees

As a convenience to faculty and staff, the Business Office provides check cashing privileges to EGSC employees for checks up to $25. Exception: Business Office Staff will not be allowed to cash personal checks in the Business Office.

    1. Employees may cash one personal check per week up to $25 at the Business Office counter. (Note: payroll or reimbursement checks will not be cashed at the Business Office counter.)
    2. The Business Office maintains a complete record of all returned checks written by employees.
    3. Returned checks are handled through the procedure established in the Business Affairs Policy and Procedure Manual (PDF).

Petty Cash Funds

http://myegsc.shorinji-kempo.net/pages/business-affairs

Departmental Petty Cash Fund Maintenance

    1. Cash must be held in a cash drawer or box that is locked. A key to the drawer or box must be held by the custodian, with a spare key held by the department head for emergency purposes only.
    2. For scheduled absences, the funds must be counted by the temporary custodian in the presence of the authorized custodian before the leave period begins. For unscheduled absences (when the fund is greater than $200), the funds must be counted by the temporary custodian in the presence of the department head when the leave period begins and before the funds are used in any manner. A similar cash count must be performed to return the cash to the authorized custodian. The department should maintain the cash count verifications until the next cash count is performed.
    3. Unannounced cash counts will be performed at least monthly when the fund is greater than $200. The department head should designate a person in the department to perform the cash count, preferably not the same person each time. The individual should not have access to the cash otherwise. Funds are also subject to unannounced counts by the Vice President for Business Affairs or his designee.
    4. Cash on hand plus non-reimbursed amounts should always equal the total amount of the fund. If an overage or shortage exists, the information must be provided to the Business Office immediately and be adjusted in the next reimbursement.
    5. Once a reimbursement is made to replenish the funds, the Business Office can cash the properly endorsed checks. For larger reimbursements, specific monetary denominations can be arranged upon notification of the Business Office. 
    6. If changes to the established amounts become necessary, a new establishment form must be submitted noting the existence of the current petty cash fund.
    7. Personal checks cannot be cashed or advances should not be made out of departmental petty cash funds (exception: Business Office Petty Cash fund).

Termination of Petty Cash Funds (Voluntary and Involuntary)

    1. Funds should be counted by the authorized custodian in the presence of the department head or a Business Affairs representative. In the absence of the authorized custodian, the department head may designate another employee to perform the count. Funds will be receipted by the Business Office and the department will receive an original receipt for their files. Termination of the funds will be noted on the original establishment form and a copy will be forwarded by mail.
    2. If there is evidence of repeated violations of the procedures for handling petty cash funds or if there are repeated cash shortages, the fund will be terminated by the Business Office.