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Finance & Accounting

BPM-208 Cash Receipts

Revised December 20, 2004

Scope

This policy applies only to those departments not specifically authorized by the campus business office as cash receiving locations. These departments fall under the line of functional authority and responsibility defined in Section 101 of the Cash Receipts Manual. Departments which are authorized as cash receiving locations are subject to the more detailed provisions set forth in the Cash Receipts Manual.

Depositing Cash Receipts

All funds must be transferred to a money transmittal location or the campus cashier's office the same day they are received. If that is not possible, the appropriate money transmittal location or the cashier's office must be contacted for handling instructions.

Non-Gift Funds

All non-gift funds must be deposited immediately with the Cashier's Office (see Recording Cash Receipts below).

 

Gift Funds

Until such time as procedures have been developed for the deposit of departmental gifts, all gift funds, including securities, must be transferred immediately to the campus Development Office. At that time, these procedures will be revised so that departments will deposit their own monetary gifts and report all necessary information to the Campus Development Office for completion of their records.

Recording Cash Receipts

Cash receipts deposited with the campus Cashier's Office must be recorded on a Cash Receipts Report (CRR). The campus Cashier's Office, or appropriate money transmittal location, will provide guidance to the department for preparation of the CRR. A general overview on how to prepare a CRR is provided on the Office of the Controller website.

Transferring Funds

All funds being transferred to the campus Cashier's Office or the campus Development Office must be hand carried or delivered by the appropriate escort service.

The campus business office may waive this requirement by authorizing the mailing of checks or money orders; however, under no circumstances may currency or coin be mailed.

Foreign Funds

All foreign funds or U.S. dollars drawn on a foreign bank must be transferred to the Cashier's office and not included on a CRR. These funds must be submitted separately to the bank for conversion or collection. Adjustments to the deposit amount will be made by the bank for conversion fees. Cashiers will prepare the CRR. (Reference - CRM304 Foreign Funds-Exchange & Deposit).

Checks

All checks must be restrictively endorsed immediately upon receipt, in the following manner:

FOR DEPOSIT ONLY

THE CURATORS OF THE

UNIVERSITY OF MISSOURI

(Department Name)

(Account Number)