Cash Receipts
TBR Policy Reference: 4:01:01:10
Approved by: Bruce Blanding
Original Date Effective: 2010-02-08
Purpose
The policy for cash receipts is designed to provide the timely deposit of cash in accordance with accepted standards of internal control and TBR Policy 4:01:01:10.
Payments
All payments received on behalf of the College must be receipted in the Business Office or its Centers in Lexington, Savannah, and Humboldt. All checks in payment of amounts due the College should be made payable to Jackson State Community College, or JSCC, and should be mailed directly to the Business Office or Centers by the maker when possible. All such checks should indicate the account to be credited. All checks and cash received on behalf of the College, not mailed directly to the Business Office or Centers, should be turned in to the Business Office or Centers no later than the beginning of the following business day. Checks should not be made payable to departments, department heads, or any College official or employee designated by name. If checks are received with the payee improperly designated they should be returned to the maker unless it is for an employee honorarium or made payable to a JSCC student club. In these cases they should be appropriately endorsed for deposit only - JSCC before transmitting them to the Business Office or Centers. All receipts must be deposited intact. No expenditures may be made from cash receipts, and no receipts may be retained within a department for departmental use. No separate official or semi-official funds (other than official Petty Cash Funds) may be maintained in any department unless same has been reported to and approved by the Vice President for Financial and Administrative Affairs.
Custody and Safekeeping of Receipts
Department heads should see that proper safekeeping facilities are available and that proper safeguards are taken to protect official funds until transmitted to the Business Office. Currency should never be transmitted through the campus mail. Combinations to safes should be changed whenever employees having the combinations are terminated. Cash should not be left in cash registers overnight.
Bank Deposits
JSCC Business Services and each of the Centers will deposit cash receipts by the end of the next business day in the appropriate bank account. JSCC Business Services will perform the internal control procedures necessary to verify deposits against the financial accounts.