UMES Administrative Affairs Manual
A. Purpose. This statement sets forth University policies and procedures for the handling and depositing of cash and other receipts.
1. Any and all departments receiving cash or checks from any source are required to deposit those items with the Cashier's Office, J.T. Williams Building, within 24 hours of receipt.
2. Receipt of non-cash gifts is to be reported to the University Development Office, J.T. Williams Building.
3. No person may accept gifts or grants in the name of the university without prior approval from the University Development Office.
4. No school, department, or activity of the university may open a bank account for its own use.
5. No currency or coin is to be transmitted through either campus mail or the United States mail. All such deposits must be hand carried to the Cashier's Office. A police escort is always available upon request, but must always be used for deposits containing cash in excess of $500.
6. All departments receiving cash must record receipt immediately. Those departments and activities that receive cash as a part of their normal day-to-day operation must obtain a cash receipt book from the Office of the Comptroller.
No department or division of the University of Maryland has authority to purchase or obtain other types of cash receipt forms.
1. The normal distribution of the cash receipt form is as follows:
a. Original (white): To be detached at the time the funds are collected and given to the person making payment.
b. 1st copy (yellow): To be detached and taken to the Cashier's Office together with the funds, unless other procedures are installed by the Comptroller.
c. 2nd copy (pink): A non-perforated copy, which permanently remains in the receipt book to serve as a numerical file on receipts.
2. Normally, all cash receipts should be deposited on a daily basis, together with a covering transmittal (see form in cash receipts book) to the Cashier's Office. In the event adequate facilities exist in the department to safeguard funds and the amounts involved are nominal ($25 or less), it will be acceptable to make a deposit on Friday each week. However, all funds on hand as of the close of each fiscal year (June 30th) should be deposited on the first working day in July.
The purpose for having the receipt forms prenumbered is to establish a basis of accountability. Therefore, no erasures or corrections should be made on any cash receipt. In the event a receipt form is improperly prepared (for any reason), it should be marked "void" and all three parts of the form retained in the receipt book. Each voided cash receipt form should be identified by citing the individual number within the series of receipt numbers covered by each transmittal and deposit.
3. In the event that a cash receipt book is issued for temporary usage (ie. the department does not regularly handle monies but is conducting a special function which necessitates the collection of cash receipts), the cash receipt book should be returned to the Office of the Comptroller as promptly as possible after the need is no longer valid. A release of accountability will be issued by the Office of the Comptroller.
4. The Cashier will check the money to assure it is correct. Will verify that the checks and money orders are properly written and endorsed and that the transmittal is correctly filled out and agrees with the money and receipts presented.
5. The Cashier will prepare a four-part receipt on the receipting equipment. The original must be given to the individual making the deposit.
6. The Cashier will determine if the 24 hour deposit policy has been adhered to by reviewing the receipt dates.