Departmental Deposit Procedures Handling of University Funds Tarleton State University Created April 2018

Collection of Funds The responsible party from each department will need to read thru our procedures on collecting any kind of funds, provided here and understand how to write receipts and make deposits with Business Services. Any department here at TSU that takes any form of payments must first check out a receipt book from Business Services. The responsible party or a trained employee/student will take payments and write the customer a receipt from the book. Then prepare a deposit that they will bring to the cashiers in Business Services. All deposits must be made daily if $200 or more otherwise every 3 days. Deposits must be made by 3:00 p.m. everyday. Additional information and cash handling training is provided in Business Services or at https://www.tarleton.edu/business/facultystaff/documents/Deposits.pdf

Making the Deposit Start at the bottom of the receipt book, fill line every line, & bring receipt books to cashiers in Business Services for every deposit. Tear out the pink copies and add them up for a total. If multiple receipt books are brought in at the same time, please separate checks and cash accordingly and provide a balance form (details below) for each book. If you need to void a receipt make sure you bring the WHITE and PINK copies to the cashier and write VOID on them. Copies must be in numerical order. Make sure all checks are made payable to TSU. Checks must be endorsed with “deposit only” and the account/code number you are depositing the funds into MUST be written on the back. ***white= customer, pink= cashiers, gold= dept, yellow= book

Balance Forms Depts must provide a balance form summarizing the deposit. List your account/codes & the amount that should be deposited into each, then a total of all, that should match the total of payments. List the total of each payment method, then a total of all. They should match the total from above. The grand total should equal the amounts of the pink receipts from the book as well. If your dept has a cash-working fund you must show it on your balance form in order to document balancing of receipts with any cash/check payments actually deposited. And any overages or shortages must be noted on the balance form.(If you do NOT have a working fund you do not have to show these line items)

Sundry Receipts The Cashiers will verify the deposit and write a sundry receipt for each deposit. Each Sundry has 3 copies attached to it. The white one stays with the cashier, the yellow is for your depts records and the pink is stapled to the last receipt used in the book included in the deposit.

Cash Working Funds Where cash-working funds are made available, such funds will be used only for documented and approved university business. Use of working fund for the purpose of cashing checks and/or IOU’s is STRICTLY PROHIBITED. At the end of each business day, the cash working fund should always hold the full amount of the working fund in currency and coin. Any overages or shortages calculated when preparing deposits should be documented on the balance form. If you feel that your department would benefit from a working fund, your dept. head can request one through Business Services.

Sales of Goods and Services All sales of goods and services shall be for cash or a bankable equivalent except those that cannot be predetermined, such as sponsored programs conducted under cost reimbursement arrangements. In the event that extenuating circumstances prevent compliance with these regulations, the department or similar administrative unit extending credit must fully justify and document the prevailing facts and circumstances. Approval of the Chief Fiscal Officer must be obtained by the department prior to entering into transactions or establishing methods of operation that require the extension of credit. Any extension of credit may carry with it personal liability to the State for any resulting losses to the State.

Questions??? Contact Student Account Services in Business Services at 254-968-9607