1.17 Cash Handling

SCOPE OF COVERAGE OF THIS REGULATION:

This regulation covers all Maricopa County Community College District (MCCCD) employees or offices (including, but not limited to:  all employees – Board-Aproved or part-time, cashiers offices, performing arts centers, athletic facilities, program offices, etc.) that accept payment for any MCCCD services or donations (including, but not limited to:  tuition, fees, dues, event tickets, etc.).  Cash is defined as coins, currency, checks, money orders, credit cards, electronic funds transfers, and all cash equivalents (including, but not limited to:  tokens, gift cards, tuition waivers, parking tickets, stamps).

GENERAL STANDARDS:

1. To ensure strong internal controls over cash handling, to safeguard against loss and to meet our obligation to the community as stewards of public resources, the following elements of internal controls must be adhered to:

   1. Proper segregation of duties (i.e., dual controls)

   2. Specific safeguards for handling, transporting and storing cash

   3. Specific safeguards for deposits

   4. Independent reconciliation of deposit documents to receipts

   5. Management oversight and review of cash handling processes and personnel

2. Each college and the District Office are required to establish written procedures for all locations that handle cash.  Such procedures shall ensure compliance with all of the required internal control elements identified in A.  Such procedures shall address all control elements identified in A by reflecting the space, physical configuration, staff and other particulars of each location.

3. The District’s Business Services division will review such written procedures for potential areas of concern relating to the required internal control elements.  Such concerns will be noted and communicated back to the applicable College/District Office for further action.

4. On or about January 1st of each year, each college and the District Office are to review the written procedures relating to cash handling.  If significant changes are required, such changes are to be reviewed by the District’s Business Services division as in C. above.

5. The District’s Internal Audit and Management Advisory Services Department may test the written procedures for compliance in accordance with their established audit plan.

6. If inappropriate activity is suspected or determined (i.e., a pattern of cash shortages, forgery or alterations of checks, misapplication of tuition waivers, loss or damage to securities, computer fraud, etc.), the college or District Office staff should immediately notify their appropriate Vice President or Vice Chancellor, who should then notify Risk Management and Internal Audit and Management Advisory Services of any real or potential losses.  The notifications stated above are critical as MCCCD has a limited discovery period in which to report such activity to our insurance carrier.

7. If it is suspected that a theft has occurred, the appropriate law enforcement authorities must be notified.

8. Annually, each employee responsible for handling cash will be required to complete an acknowledgement that they have read and agree to abide by established procedures for proper handling of cash.

9. Annually, each Vice President or senior level administrator with supervisory or management responsibility for any and all areas that handle cash and the college President and Vice Chancellors with any and all responsibility for cash shall  complete an acknowledgement that they will enforce the established procedures for the proper handling of cash.

10. The Vice Chancellor for Business Services shall develop, make available and has the authority to require training as may be appropriate for any and all persons handling cash or supervising these individuals at the colleges, District Office or any district location.

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Adopted by the Governing Board on February 27, 2007.
Motion No. 9412

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