POLICY No. BAA-A02

 

INTERNAL/ DEPARTMENTAL POLICY AND PROCEDURE

 

TITLE:

Controller’s Office: General Money Counting Procedures

 

EFFECTIVE DATE

:

 

April 16, 2008

 

CANCELLATION:

None

 

DIVISION:

BUSINESS AND ADMINISTRATIVE AFFAIRS (BAA)

  

 

CATEGORY:

General Business and Administrative Affairs (A)

 

RESPONSIBLE

DEPARTMENT:

Controller’s Office

 

 

 

PROCEDURES & SPECIFIC INFORMATION

 

1.

Purpose

 

To publish procedures for counting and depositing money by designated Delgado

Community College.

 

 

2.

Applicability

 

This policy and its procedures apply to Bursar’s Office staff and/or any other individual

designated by the Controller’s Office to count and deposit money for the College.

 

 

3.

Responsibility and Procedures

 

  

A. The responsibility of counting and depositing money resides with the Bursar staff

and/or any other individual designated by the Delgado Community College’s

Controller’s Office.

 

B. In accordance with Louisiana Community and Technical College System policy

on cash management, all employees handling cash or check receipts must be

bonded by the State of Louisiana through the Office of Risk Management.

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C. The following procedures are to be followed to ensure both the protection of the

College and of those individuals involved in counting and depositing money for

the College:

1. Two employees designated by the Controller or his/her designee are to

carry the monetary contents to a room for counting that is considered to

be an adequate and safe room and/or area for counting. Bringing cash to

a private home for counting is prohibited. In the event of counting

contaminated funds such as in the situation that arose after Hurricane

Katrina, persons responsible for counting should ensure that the area is

also properly ventilated and that proper attire is worn in order to prevent

health risks.

 

 

2. A summary report outlining the various denominations that have been

counted must be prepared, signed and dated by the two employees

assigned to counting.

 

3. A deposit slip is to be prepared. The College’s contracted armored car

services are to bring the deposit directly to the appropriate bank. If

contracted armored car services are not available for the campus or site,

the Controller’s designated employee and a Campus Police Officer are to

bring the deposit directly to the bank. In the event of contaminated funds

(i.e., flood damage, etc.), the Controller or his/her designee is to contact

the local bank branch to determine the bank’s procedures for handling

such deposits.

 

4. A copy of the deposit slip and the summary report are given to the

Controller’s Office - General Accounting Department for entry into the

accounting system.

 

5. When possible, persons in the above steps should be rotated periodically.

 

 

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Reference:

 

LCTCS Policy 5.013 “Cash Management and Investment”

 

Review Process:

Bursar’s Office 3/17/08

Assistant Vice Chancellor/Controller 3/18/08

Business and Administrative Affairs Council 4/16/08

 

Approved:

Signature 4/16/08

 

  

  

  

A.C. Eagan, III

Vice Chancellor for Business and Administrative Affairs