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CSU POLICY

Section 3000 Policies

Policy Number:  3101.02

Policy Title: Campus Administration of Systemwide Cash Management Policy

Policy Effective Date: April 1, 2011

Last Revision Date:  
(see revision history)

POLICY OBJECTIVE

It is the policy of the CSU that each campus shall establish written procedures to implement Systemwide cash management policies in a manner that meets core objectives of the University.

POLICY STATEMENT

Each Campus President is responsible for conducting all Campus cash management activities in accordance with the policies and procedures established by the Executive Vice Chancellor/Chief Financial Officer and /or his/her delegates.

The President may delegate the responsibility for all cash management operations on the Campus to the Campus Chief Financial Officer (Campus CFO).

The Campus President is responsible for directing the campus CFO to open and maintain bank accounts within the CSU centralized banking system in accordance with ICSUAM policy 3101.03.

The Campus CFO or his/her delegate is responsible for implementing this policy on a Campus level and managing the process for authorizing and documenting all variances from established procedures when warranted by local circumstances.

The Campus CFO or delegate may assign appropriate authorities to a Cash Handling Coordinator.

The Cash Handling Coordinator shall be responsible for:

• Categorizing Cash Handling Units and individuals performing functions related to cash handling accounting.
• Arranging for the preparation, documentation and implementation of operating procedures in accordance with this document.
• Documenting variances from these policies and procedures when warranted by local circumstances.
• Serving as the central point of contact for implementing systemwide policies and appropriate procedures on campus.
• Creating or dismantling of approved cashiering/ sub-cashiering locations.
• Creation or dismantling of all approved physical locations, websites, 3rd party processors, or any channel accepting credit card payments.
• Ensuring that the person or persons properly authorized to sign checks, drafts, or other orders for payment of money or to approve/ release electronic transfers of funds against CSU checking accounts is covered by a fidelity bond.
• Performing an annual documented review of compliance with these policies and procedures and informing the Campus CFO of risks associated with each Campus cash-handling unit.

APPLICABILITY AND AREAS OF RESPONSIBILITY

 

REVISION HISTORY

 

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

 

Related Principles:

 

Sound Business Practices:

 

Laws, State Codes, Regulations and Mandates: