Cash Receipts Manual
CRM 401 - Risk Classifications
Determining Risk Classifications :
Responsibility of Campus Business Services - Campus Business Services must evaluate each operation that receives, stores or disburses money for the University and assign a risk classification based on a number of factors:
- Amount of money accumulated.
- Environmental factors.
- Hours of operation.
- Past loss experience.
- Number of employees.
Classification of Risk -
- High Risk - Any operation which consistently accumulates over $25,000 in cash and other securities daily or, regardless of the amount, is considered subject to a high incidence of loss based on environmental factors, loss experience or operating hours.
- Medium-High Risk - Any operation which consistently accumulates over $10,000 but not more than $25,000 in cash and other securities daily or, regardless of the amount, is considered subject to more than a medium incidence of loss based on environmental factors, loss experience or operating hours.
- Medium Risk - Any operation which consistently accumulates over $1,000 but not more than $10,000 in cash and securities daily or, regardless of the amount, is subject to more than a minimum incidence of loss based on environmental factors.
- Low Risk - Any operation where cash and other securities of not more than $1,000 are stored, including small petty cash or change funds.
Minimum Security and Safekeeping Standards:
Campus Business Services must determine, implement and enforce security standards for each cash handling operation on the basis of the assigned risk classification.
For Operations Classified as High Risk -
- Safes protected with capacitance burglar alarms connected with the University Police Department.
- Area alarms to protect all doors, windows and other entrances.
- A Class ER or TL-30 burglary-proof safe.
- A hold-up alarm system that can be activated at the counter and at a supervisor's desk.
- Other deterrents required by Campus Business Services, such as camera surveillance equipment.
- Cashier cages which meet the construction standards required or determined appropriate by Campus Business Services for high risk cash handling locations. After review of the location, the need for bullet-proof cages should be determined by Campus Business Services.
For Operations Classified as Medium-High Risk -
- A Class ER or TL-15 burglary proof safe.
- Adequate construction standards as established for medium-high risk cash handling locations.
- A manual hold-up panic alarm system with buttons for activating the system located at the counter and at a supervisor's desk.
Note - Employees should be carefully instructed on the use of these alarms.
- An alarm system to protect all doors, windows and other entrances against burglary.
For Operations Classified as Medium Risk -
- A locking safe, chest or cabinet rated fire resistant and equipped with at least one combination lock.
For Operations Classified as Low Risk -
- A storage container equipped with at least one locking device which cannot be easily removed from the premises or which can be secured in a larger, locking device (desk, vault, etc.).
created: 02-28-97
