Cashiering and Cash Handling Guidelines

Certain basic internal control principles must be adhered to in regards to collecting and accounting for cash and cash equivalents.

These basic principles are articulated below.

Relevant Files

Key Objectives

Accountability

Ensures that:

  • CSU employees who process and/or handle cash and cash equivalents can be held responsible in fulfilling their duties
  • Accountability is present when the following three (3) areas are addressed:
    1. Knowledge of who has or had access to, and why he/she has or had access to, cash and cash equivalents.
    2. Knowledge of where cash or cash equivalent assets are at all times.
    3. Knowledge of what transpired from the beginning of a cash handling process to the conclusion of the process.

Separation of Duties

Ensures that:

  • Employees involved in the handling of cash and cash equivalents are, at all times, protected from physical harm
  • Cash and cash equivalents are, at all times, protected from loss or misuse
  • Technology resources (i.e. hardware and confidential payment information) are, at all times, protected from loss, corruption or compromise to confidentiality

Security (Physical and Information)

Ensure that:

  • Employees involved in the handling of cash and cash equivalents are, at all times, protected from physical harm
  • Cash and cash equivalents are, at all times, protected from loss or misuse
  • Technology resources (i.e. hardware and confidential payment information) are, at all times, protected from loss, corruption or compromise to confidentiality

Reconciliation of Accounts

Provides:

  • Assurance that cash and cash equivalents collected and reported as deposited are deposited accurately and timely into authorized CSU bank accounts
  • Assurance that general ledger recordings/transactions are accurate