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CRM 411 - Minimizing and Reconstructing Losses

Practices to Reduce and Reconstruct Losses:

Separating Checks and Credit Card Sales Slips From Cash - Checks and credit card sales slips must be kept separate from cash.

Recording Checks - All checks must be logged or microfilmed if the accounting detail does not contain sufficient information to obtain replacement checks.

Maintaining Minimum Necessary Funds - Individual Cashier operating funds must be kept to an absolute practical level at all times, and all other funds must be kept in locked safes.

Excess cash accumulated during the day must be reduced by making more than one credit or safekeeping deposit per day.

To reduce excess funds in individual safes on the campus overnight or over long weekends or holidays, funds must be transferred to the Campus Cashiers Office.

Limiting Access and Visibility - Access to areas where money is counted or handled must be restricted to those persons directly involved. Visibility by the general public must be restricted for those areas where large volume money-counting activities take place.

Securing the Premises - At night, sufficient lights must be left on at all times to permit visibility. Any dark office should be investigated and reported to the police.

Security checks should be made by police foot patrol and patrol cars during their tour of duty. Security watchmen should make periodic floor and room inspections.

Opening and Closing Precautions -

  • Two persons must be present at all openings and closings.
  • Unattended Cashier stations must be closed and the registers locked, with the key removed, when a Cashier closes down for a relief period.
  • Cash registers are not left with the total amount of receipts showing in the cash register window. The cash register must be cleared to zeros, or the window must be covered. If the register is empty, the drawer must be left open.
  • All doors, windows, or other entrances must be securely locked and all alarms turned on.

created: 02-28-97