Creighton University

Accounting Policies

POLICY TITLE:

Cash Safeguards and Controls

POLICY NUMBER:

GNPL 01

DATE ISSUED: 

July 1, 1993

DATE REVISED:


Cash and checks made payable to Creighton University and/or its various departments are periodically collected in the departments and during special events. All cash and checks should be deposited with the University Business Office on the same day they are collected and, if this is not possible, on the next business day following their receipt. Checks should be restrictively endorsed "For Deposit Only" upon receipt.

All cash and checks received should be counted and verified by more than one individual. However, a single individual should be held fully accountable for all cash and checks received by an individual department. If monies cannot be deposited on the same day they are collected, the department should provide a locked environment with minimal access and close controls over keys and/or combinations (file cabinet, safe, etc.) to store the funds until deposited. University funds should not be taken home by individuals (as a security measure and for the safety of the individual).