UC IRVINE ADMINISTRATIVE POLICIES & PROCEDURES

Expedited Funds Availability Act, Regulation CC, Check Endorsement Standards

UC Business and Finance Bulletins

BUS-49, Policy for Handling Cash and Cash Equivalents

UC Accounting Manual

Section C-173-14, Campus Cash Collection Deposits

UCI Administrative Policies and Procedures
Section 700-06, Guidelines for Reporting Improper Activities and for Filing Complaints of Retaliation for Reporting Improper Activities
Section 704-13, Check Endorsement Procedures

Contact: Cashier's Office at (949) 824-6916

A. Cashiering Responsibilities

University employees who receive and handle cash and securities must follow and maintain the appropriate safeguarding, reporting, and audit controls as stated in the endorsement standards released by the Federal Reserve Board under the Expedited Funds Availability Act, Regulation CC and UC Business and Finance Bulletin BUS-49, Cashiering Responsibilities and Guidelines.

B. Payments

1. Check Payments

a. Accepting Checks

Checks received by campus departments must:
• be made payable to The Regents of the University of California, or UC Regents
• have a complete address
• show a current date (not be back dated for more than five days or post dated)
• display the payer’s bank branch information and personal account number imprinted on the check by the bank.

b. Endorsing Checks

Checks should be endorsed upon receipt in accordance with Section 704-13, Campus Cashiering Check Endorsement Standards - Procedure.

2. Cash Payments

Cash payments (currency and coin) received by campus departments should be verified in the presence of the payer whenever possible, and a receipt should be issued documenting the transaction.

C. Depositing Cash Receipts

1. Sub-Cashier Deposits

Sub-cashier collections are to be submitted to the Central Cashier in a tamper-proof security envelope (contact the Central Cashier for ordering information). Whenever possible, all deposits should be verified by two employees before submitting to the Central Cashier.

a. Checks

Checks are to be endorsed and bundled in batches of 250 or less, with a tape or list of each check and batch total.

b. Currency

Currency is to be submitted with the portrait face up and the bills facing the same direction. It should be banded by denomination with the appropriate currency straps in increments of 100. Any remaining currency should be rubber-banded together. A tape or list with the cash breakdown and total should accompany the bundled currency.

c. Coin

Loose coin is to be counted and placed in an envelope with the amount indicated on the outside. If the coin amount is equal to or exceeds $25, it should be packed and sealed in a small bank bag provided by the Central Cashier with the dollar amount written on the outside.

d. Reporting by a Subcashiering Station

A Cash Collection Report is to be used for reporting subcashier deposit and account activity, and should be completed with supporting details attached. Sample forms may be requested from the Central Cashier and replicated on a desktop computer. One copy of the report is required per deposit. A breakdown indicating the check, cash, and coin totals should be listed on the report for deposit verification by the Central Cashier.

Reductions of recorded cash accountability; i.e., "voids" or "refunds," are to be supported with a copy of the document involved, explained, and approved in writing by the supervisor.

2. Major Cashier Deposits

Collections directly submitted to the University’s depository bank must be verified by two employees and prepared as separate deposits by type:

• Checks
• Cash (currency and coin)
• Coin, if the coin amount is equal to or exceeds $25.00.

a. Check Deposits

All checks submitted to the University’s depository bank are to be prepared in batches of 250 or less, and are to be endorsed and MICR encoded for the amount they are written for. A bank Batch Header encoded with the total dollar amount of the check batch, and a tape listing each check and the batch total should be placed on top of the Batch Header and attached to the top of the check batch. Multiple check batches that make up the check deposit may be sent to the bank as one deposit total.

b. Cash Deposits

Currency is to be verified and banded by denomination with the appropriate currency straps in increments of 100. Any remaining currency should be rubber banded together. Loose coin should be counted and placed in an envelope with the amount indicated on the outside. If the coin amount is equal to or exceeds $25, it should be sent as a separate deposit. Two tapes should be prepared, noting the denomination amounts, coin, and grand total of the deposit.

c. Coin Deposits

A separate coin deposit should be prepared when the amount of coin is equal to or exceeds $25. Loose coin should be placed in a canvas coin bag and sealed with an address tag attached.

d. Deposit Tickets and Carrier Receipts

Each major cashiering station should have a supply of pre-numbered Corporate Deposit Carrier receipt books, and multi-part pre-numbered bank deposit tickets with its department name and location code (for check deposits) imprinted on them. The carrier receipt(s) and the deposit ticket(s) are to be completed for each deposit, cash and/or check, submitted to the University’s depository bank. Cash deposit tickets completed for coin deposits should be placed in envelopes marked "IMPORTANT" supplied by the bank. The armored carrier’s signature is required on the receipt(s) at the time the deposits are picked-up for transport.

Deposit tickets, armored carrier receipt books, coin and other bank supplies may be ordered from the Central Cashier. Order in advance of supply depletion and allow ample time for shipping.

3. Departmental Deposits

Income/payments directly received by departments may be deposited to the Central Cashier in person if depositing cash, or through inter-campus mail if depositing checks. Deposits must include a Deposit Advice form. Those sent through inter-campus mail should be placed in special deposit bags marked "EXPEDITED CHECK DEPOSIT NO CASH." These can be ordered online from Distribution & Document Management. To ensure same day delivery, deposits should be dropped in the white mail boxes marked "Special Mail" found in various locations on campus. Pick-up times are posted on the outside of the mail boxes.

A Deposit Advice form is used to record deposit and account distribution. A sample form in Excel format may be requested from the Central Cashier and replicated on a desktop computer. Cash and check deposits should be reported on separate Deposit Advice forms. One copy is required per deposit. A tape or list indicating the check total is to accompany all check deposits. Questions regarding the completion of this form should be directed to the Central Cashier.

D. Prospective Cashiering Employees

E. Reporting Losses