Q: How often do I need to prepare my department deposit?
A: BUS 49 and UCSF Campus Administrative Policy require that collections must be deposited at least weekly, or whenever collections exceed $500.
(BUS-49 requires that deposits must be validated and prepared under dual custody at all times in a safe and secure area).
Q: How do I ensure proper segregation of duties for cash handling?
A: BUS 49 states that different individuals should be assigned to perform the following functions:
In a smaller department, it may not be feasible to fully segregate all of the cash-related duties. In these circumstances, the department may rely on compensating controls to mitigate the risk that cash is misappropriated (e.g., increased monitoring). These situations should be discussed with the campus or medical center cash coordinator
Q: Who has to be fingerprinted and/or background checked?
A: All employees whose duties include the handling of cash must be subjected to a background check for criminal convictions in accordance with BUS-49. Proof of completion of the background check must be maintained on file in the appropriate HR Service Center.
Q: How often do my safe combinations need to be changed?
A: BUS 49 requires that A safe’s combination must be changed whenever a person who knows the combination leaves the employ of a cash handling unit. In addition, the combination must be changed at least once a year. Documentation must be maintained showing the date and the reason for the combination changes.
Q: Do I have to provide receipts to all patients/customers for all transactions?
A: BUS 49 states that an official University cash receipt shall be recorded for each collection. A copy of the receipt shall be provided to payers making an in-person payment and to payers making currency and coin payments through the mail.
Q: I have a change fund that I don’t need, can I close it?
A: Yes! Un-utilized change funds should be closed to lower risk of loss or mishandling. Contact either Kevin Leung (campus) or Deborah Don (Medical Center) and request to have the change fund collected.
Q: How often do I have to audit my petty cash and/or change fund?
A: BUS 49 requires that unannounced cash counts of petty cash and change funds be performed at least quarterly, by someone other than the fund custodian.
Q: What kind of safe should I use to store my cash and cash equivalents?
A: Policy requires the use of lockable receptacles or burglarproof/fire resistant safes to store cash based on the following limits:
Up to $1,000 must be stored in a lockable receptacle
From $1,001 to $2,500 in a safe
From $2,501 to $25,000 in a steel-door safe, with a door thickness of not less than 1 inch and wall thickness of not less than ½ inch.
From $25,001 to $250,000 in a class TL-15 composite safe or better
Over $250,000 in a class TL-30 steel or better safe.
Q: How can I help to ensure that my unit has appropriate internal controls over cash and cash equivalents?
A: Perform self-assessment utilizing an Internal Control Questionnaire (Coming Soon).
Q: How should I handle payment received via postal mail?
A: Payments received in the mail must be opened under dual custody and recorded in the department’s records. Checks should be immediately endorsed. Receipts for payments received via mail will be provided upon request.
Q: I am a cash collector. What training(s) am I required to take?
A: All new cash handlers and cash depositors are required to take the online course “UCSF Cash Policy Highlights” at the UC Learning Center. In addition, they are required to take the training yearly as a refresher. Required training: http://controller.ucsf.edu/cash_handling/training.asp
Q: I am a depositor. What kind of training am I required to take?
A: Cash depositors are required to take the online course “UCSF Cash Policy Highlights” at the UC Learning Center. In addition, they are required to take the training yearly. For required training, see http://controller.ucsf.edu/cash_handling/training.asp
Q: How do I report a cash shortage or loss?
A: Known or suspected misappropriations or mysterious disappearances of cash totaling $100 or more must be reported promptly to Audit Services, the UCSF Police Department, and the Campus Cash Coordinator.