Training Presentation Morongo Unified School District Cash Handling Training Presentation

What is included in “Cash Handling” ? It’s not just “cash”. Cash includes the following forms of money: Coin Currency Checks/Traveler’s Checks Money Orders Credit Card Transactions Cash Equivalents Tokens Tickets Stamps Gift Certificates/Cards

WHY? First, lets talk about risk and controls…. Who or what is at risk? The Money You WHY?

Risk? When this occurs with Money-- Cash is stolen Cash is lost Statement of Account doesn’t agree with department/units internal records You can expect the following results when cash control is inadequate-- No audit trail Finger pointing/Accusations Lost revenues Accountability Internal Audit and Investigation

Risk and Controls!! Remember – In the cash collecting process, YOU are just as important as the cash……….. The controls (rules) that we will discuss are designed to protect both YOU and the cash you are handling.

“Collecting the cash” Recording of cash? Upon receipt: Complete Enter money* into receipt books provided by the district. Do not use store purchased receipt books. (If you are out please call Sandi at 4255 to request additional receipt books. Give receipt* Sites must provide the person paying the monies a receipt. Complete RECEIPT COPIES WHO GETS? WHITE COPY PERSON PAYING THE MONEY YELLOW COPY ACCOUNTING DEPT WITH THE MONEY PINK COPY STAYS AT SITE FOR YOUR RECORDS

“Collecting the cash” Recording of cash? Upon receipt (continued): Use receipts in sequence. If a mistake is made write void on the receipt with an explanation and turn yellow copy into district office. Be sure to complete the receipt in full with a full signature (initials are not enough). The amount on the receipts MUST match the recap and amount of cash. Any discrepancies must be investigated, resolved and explained to the district office.

Balance Deposit Reconcile “Now that we have collected the $$$$$$, what do we do with it?” Secure Balance Deposit Reconcile Let’s go back to Our checklist......

How is the cash going to be secured? “Securing the cash” How is the cash going to be secured? Whether your department uses a safe or a locked cash box, it is very important to change the combination on a regular basis, at least once a year and when someone leaves the unit who knows the combination. Most important to use GOOD JUDGEMENT! If you use keys/combination to access the safe, cash box, or a locked drawer, then make sure that the keys/combination are kept in a secure, secret place.

Transporting Cash OK…… If you have responsibility for taking the money deposits to the District Office please use good common sense. Secure the cash and checks in a locked cash pouch. (BUSINESS OFFICE HAS KEY) Don’t be conspicuous. To assist you in this, use a backpack, plastic sack or other ordinary receptacle to transport the deposit. Don’t take the same route or go at exactly the same time every day – don’t be predictable! OK……

(This is an audit exception if not followed) Sending to District Cash must be submitted to the district on a weekly basis (or if your deposit exceeds $200). (This is an audit exception if not followed) No short-cuts!!!