Receiving Cash or Checks on Behalf of SPPS

Receiving Cash or Checks on Behalf of SPPS

Who Completes This Task: All Employees Who Receive Money on Behalf of SPPS

Process

When a program or school receives money, it must be handled in a way that prevents loss or the appearance of impropriety.

Criteria

• Staff person receives cash or check

Expectations

• Do not use cash received to pay for anything; all cash must be deposited
• All funds should be deposited in the same form received
• Checks can only be cashed by the organization or entity they are written out to
• Keep cash and checks secure
  • A desk drawer (locked or unlocked) is not secure
• If a large amount of coin is received, two staff bring it to US Bank with a deposit slip
  • Both staff sign the deposit slip
  • Complete a Receipts to 360 Colborne Form
  • Send form and bank receipt to Accounts Receivable (AR)
• If checks are returned to the site with a Bad Check Notification form, the site should attempt to collect the check amount plus any bank service charges

Steps - Gifts or Donations

1. Verify gift vs grant
2. Bring funds to the clerk
3. Review the gift policy
4. Complete the Gift Acceptance Form
   
   1. Send to AR
5. Clerk ensures a thank you note is sent to donor

Steps - Funds From a Company or Organization

1. Complete the Receipts to 360 Colborne Form
2. Deliver form, funds and documentation to AR

Steps - Funds From Students or Families (in a School Setting)

1. Keep a personal log of funds received
   1. Use any format that works
   2. Must be saved until the deposit is fully handled by AR
2. Daily, count the funds received and fill out a Receipts to Deposit Form
3. Scan or make a copy of the Receipts to 360 Colborne Form for your records
   1. Original form goes with funds in a security bag
4. Bring the sealed security bag to the assigned location at your site

Steps - All Other Money Received

1. Contact AR if you receive funds that don’t match the sources above

See the Receiving Cash or Checks Flowchart  for a visual representation of this process

Documentation Required

• Bank receipt if a large amount of coin was received and deposited
• Gift acceptance form, if needed
• Personal log
  • Retain until the deposit is recorded in the general ledger
• Receipts to 360 Colborne form, if used
• Receipts to Deposit form, if used