Cash Operations and Security
The Office Internal Auditing Services provides assistance in assessing compliance with internal audit controls, management integrity such as separation of duties, and adequacy of compliance of safeguarding university assets. For more information please read the Cash Fund and Safety Procedures (doc) and/or visit the Forms section which provides links to the most frequently used forms.
Specific tasks include the performance of independent audits of cash operations and related processes according to the requirements outlined in the State Administrative Manual (SAM) sections 8024, 8025, 8032.4, 8080, and 8111.
A general reminder for cash funds and checks:
- Checks should be immediately endorsed/stamped on receipt and secured in a locking drawer or safe.
- Cash or checks need to be deposited within two working days of receipt along with a completed transmittal sheet.
- Cash or checks held overnight should be kept in a secured approved locked drawer or safe.
- Transportation/delivery of cash or checks should be in sealed tamper evident money bag with the tear off slip retained by the originating office.
- Deposits (coin and currency) over $3,000 must be transported under double custody (two employees).