Revenue

Cash Handling

Separation of Duties

• Separate duties of receiving and handling cash payments, reconciling the source documents to the deposit, and posting the payments and adjustments to customer accounts

Approval and Documentation

• Ensure voids, paid-outs and adjustments are properly approved and documented.
• Establish accountability for all forms of revenue received such as using cash receipt books or logs, cash registers or tickets.

Reconciliation and Review

• Use cashier-validated cash transmittal or bank-validated deposit slips when reconciling deposits to the monthly financial records (e.g. Budget Activity Report).
• Reconcile source documents (e.g. pre-numbered cash receipts, logs, cash register tapes) to validated cash transmittals or bank deposit slips.
• Account for the sequential “Z” readings of cash register machines, or non-resettable cumulative totals during the reconciliation process.

Safeguarding

• Endorse checks upon receipt.
• Store cash (includes checks and credit card slips) in a locked secure location.
• Restrict access to cash to the minimum number of authorized employees.
• Change the safe combination when employees leave the unit.
• Perform unannounced cash counts.

Billings

Separation of Duties

• Separate duties of receiving and handling cash payments, reconciling the source documents to the deposit, and posting the payments and adjustments to customer accounts.

Approval and Documentation

• Ensure billing adjustments are properly approved and supported.

References:

Administrative Policy Statement 31.1

Cash Management