Cash and Cash Equivalents - UCSF Helen Diller Family ...

Rev. 11/10/2008
UCSF Helen Diller Family Comprehensive Cancer Center
(HDFCCC)
Cash and Cash Equivalents
Handling Policies and Procedures
INTRODUCTION
The UCSF HDFCCC will strive to maintain financial policies that comply with
UCSF policies and guidelines and all applicable laws and regulations. We
establish these departmental policies and procedures to ensure proper cash
handling, accountability, and internal controls.
I. PURPOSE
The establishment of the following policies and procedures are part of the
internal control principles for cash and cash equivalents handling and processing,
and defines roles and responsibilities related to receipt, safeguarding, reporting,
and recordkeeping for all University cash and cash equivalents. The purpose is
to ensure that these important University assets are protected, accurately and
timely processed, and properly reported.
II. DEFINITION
Cash – Checks, currency, coin, credit card recordings, bank notes, traveler’s
checks, official checks, and money orders.
Checks – Any check payable to UC Regents including personal and business
checks, cashier’s checks, official checks, money orders, and traveler’s checks.
Cash Handlers – Any employee engaged in a cash handling function
Cash Handling Station – central area of the department that handles cash and/or
deposits.
Dual Custody – A task or an asset performed or held in the control of two people.
CCC Cash and Cash Equivalents Handling Policies and Procedures 1 of 5

Rev. 11/10/2008
III. POLICY
A. Accountability
All HDFCCC Cash Handlers and Petty Cash Fund Custodians should have a
thorough understanding and adhere to the cash policies and procedures set forth
in the UCSF cash policies. Any violation or non-compliance with the UCSF cash
policies and procedures can lead to disciplinary actions up to and including
termination of employment.
The set forth policies and procedures are established to enable better internal
controls for cash and cash equivalents that identify:
1. Which individuals receive cash and cash equivalents and for what purpose
2. Where cash or cash equivalents are at all times; and
3. What transpired from the beginning to the conclusion of a cash handling
process
4. Each individual who receives or has custody of University cash and cash
equivalents must be held responsible for cash and cash equivalents under
his or her control.
B. Requirements
1. All Cash handlers are considered to be "critical employees" and must
undergo fingerprinting. Fingerprinting records must be kept in the
employee’s personnel file.
2. Cash handler must take the mandatory and yearly refresher trainings.
(Please see below Training section.)
3. People who open mail are considered Cash Handlers and must be
fingerprinted as well. Mail should be opened by two people and checks
must be endorsed immediately.
4. Deposit check with double custody. Do not transport deposit to bank. All
deposits must be made in a building drop safe location.
CCC Cash and Cash Equivalents Handling Policies and Procedures 2 of 5

Rev. 11/10/2008
C. Separation of Duties
To ensure that receiving, collection, depositing, recording and accounting cash
handling duties are not handled by a single individual, at least two qualified
individuals must be assigned to carry out key duties of the cash handling
process.
D. Security Concerns
1. Individuals who handle cash and cash equivalents shall be protected from
physical harm.
2. Cash and cash equivalents in the custody of the unit are protected from
loss. Cash and cash equivalents that are kept overnight must be locked in
a secure place. The amount of funds held overnight should be minimized.
3. All checks must be deposited within 2 working days upon receipt. All
receipts, deposits and transactions must be recorded by using the
Departmental Check and Cash Log (see attached Log). Specific
accounting procedures must be followed for depositing and recording cash
and equivalents to ensure proper internal controls and separation of
duties.
4. Technology resources involved in processing cash and cash equivalents
(i.e., hardware and confidential personal information) are protected from
loss, corruption, or compromise to confidentiality.
E. Training
1. The online class “UCSF Cash Policy Highlights” is mandatory every fiscal
year by all Cash Handlers.
2. “Cash Deposit Basics” is a 3-hour classroom training. This class is for
Cash Handlers that make deposits. Register for the class at
http://training.ucsf.edu
IV. PROCEDURES
CCC Cash and Cash Equivalents Handling Policies and Procedures 3 of 5

Rev. 11/10/2008
A. Role and Responsibilities
• Cash Handlers here are defined as any employees engaged in a cash
handling function. For the HDFCCC, Cash Handlers are employees who
handle checks, cash and deposits.
• Faculty Assistants shall be considered Cash Handlers if they engage or
perform one of the functions mentioned above. For example, a Cash
Handler is an employee who opens mail containing checks.
• Within the finance team, the individuals who process and deposit cash
and cash equivalents are considered Cash Handlers.
• Accounts Managers are analysts who manage a fund portfolio and
maintain control to ensure that all cash and cash equivalents are
deposited into the correct account.
• Ledger Reconcilers are members of the finance team who review and
reconcile deposit slips and logs to the Weblinks general ledger.
• The HDFCCC Cash Coordinator is responsible for ensuring that these
policies and procedures are implemented and current. The Cash
Coordinator is the point of contact for all issues related to Cash and Cash
Equivalents.
• The Director of Administration has overall responsibility for the cash
handling process.
B. Reconciliation
• Per SAS 112 audit requirements, monthly reconciliation of deposit records
must be performed to ensure that all deposits are deposited into a
University depository account and properly recorded on the general
ledger.
• The purpose is to ensure that Cash and Cash equivalents received,
deposited, and reported are in an accurate and timely manner and
transactions for such activities posted to general ledgers are reconciled.
Any discrepancies must be disclosed to the appropriate authorities and
resolved immediately. All unexplained fund losses must be reported to
HDFCCC Cash Coordinator, who in turn will coordinate required
notification to the UCSF Police, the Campus Cashiering Coordinator and
the School of Medicine Controller's Office within 24 hours.
V. OTHER INFORMATION
CCC Cash and Cash Equivalents Handling Policies and Procedures 4 of 5

Rev. 11/10/2008
Should there be any changes in depositors, back up depositors, and journal
preparers, the HDFCCC Cash Coordinator should be contacted. The Cash
Coordinator is responsible for maintaining an updated list of approved Cash
Handlers and the training record.
In case of an emergency or disaster, the departmental Cash Coordinator will
coordinate and work with the campus Controller's Office Cash & Controls Unit to
advise cash handlers regarding how to respond
Who to Contact
Questions concerning cash policy and handling should be directed to Daniel
Chao, the HDFCCC Cash Coordinator at (415) 353-9620 or dchao@cc.ucsf.edu.
The Campus Cash Coordinator and Petty Cash Coordinator is Toni Sims. She is
available at (415) 502-8432 or tsims@accounting.ucsf.edu.
References
Tools, policies and procedures may be found at the Controller's Office websites
under Cash & Controls at
http://acctg.ucsf.edu/cash_controls/index.htm and
http://acctg.ucsf.edu/cash_controls/contacts/index.htm
CCC Cash and Cash Equivalents Handling Policies and Procedures 5 of 5