Procedure CR2032 - Processing and Controlling Prenumbered Receipts at Non-University Park Locations
Office of the Corporate Controller
Policy Steward facilitating procedure: Associate Vice President for Finance and Corporate Controller
Table of Contents:
- ORDERING PRE-NUMBERED RECEIPTS FROM SYSTEMS & PROCEDURES
- VERIFICATION OF THE PRE-NUMBERED RECEIPTS
- COST OF PRE-NUMBERED RECEIPTS
- PRE-NUMBERED RECEIPT INVENTORY RECORDS
- USE OF PRE-NUMBERED RECEIPTS
- AUDIT COORDINATION - FINANCIAL AND PROCEDURAL
- RECORD RETENTION, DISPOSITION, AND DESTRUCTION
- CONTACT INFORMATION
- CROSS REFERENCES
In order to provide for written documentation of cash and checks received, bound books of University Pre-numbered Receipts are to be used at all University locations. This form will be used for all situations except where an existing University receipt is used at the time of transaction such as the Student Estimated Bill, SGA Pre-numbered Receipt, cash registers, etc.
These books of Pre-numbered Receipts are distributed to each Financial Officer by Systems and Procedures upon request. The Financial Officer will distribute the books locally. For audit control, each Pre-numbered Receipt book must be assigned to a specific individual. Only under rare circumstances may more than one individual use the same book. If the Financial Office feels that it is absolutely necessary for multiple individuals to share the same book, one of those persons must be identified as taking the responsibility for the use of the book. No more than four (4) individuals may share one book.
When additional books must be issued on a temporary basis, as in peak work periods, they must be assigned individually and the recipient's name recorded. Partially used books must be returned to the Financial Officer at the end of such temporary work periods, and the book signed back in to inventory by the Financial Officer.
All requests for Pre-numbered Receipts must be made to Systems and Procedures by a Financial Officer.
Upon receiving the request, Systems and Procedures will contact the printer and specify the location, quantity of forms, and number series that are required. Systems and Procedures will draft a letter of acknowledgment and send it to the Financial Officer asking that he/she verify that the shipment was received in good order and that the Pre-numbered Receipts were printed with the correct number series.
As soon as the Pre-numbered Receipts are available, the printer will ship them directly to the Financial Officer at the specified location.
Upon receipt of the shipment, the Financial Officer must first verify that the proper quantity, number series, and location name was received. This verification process must be done promptly. Any damages due to shipping must be immediately reported to the shipper.
When the Systems and Procedures' letter of acknowledgment is received, the Financial Officer is to sign the letter and return it to Systems and Procedures. Any damages or discrepancies between the packing list, the shipment, and the original order are to be reported to Systems and Procedures on that letter.
Problem Resolution - Upon notification of a problem, Systems and Procedures will contact the Financial Officer and give special instructions as to the resolution of any discrepancies.
Financial Officers at non-University Park locations will reimburse Systems and Procedures for the actual cost of all Pre-numbered Receipts. Upon notification by the Printer that an order has been shipped, Systems and Procedures will notify the user area of the total cost. Payment is to be made to Systems and Procedures by an Interdepartmental Transfer.
Financial Officers are required to maintain accurate inventory records of the supply and use of Pre-numbered Receipts. At a minimum, these records must readily provide the following information:
- The number series of the Pre-numbered Receipts that have been received from Systems and Procedures.
- The number series of the Pre-numbered Receipts that have been issued to the various areas under the Financial Officer's responsibility.
- The series number of each Pre-numbered Receipt that has been used (i.e., given to a person making a payment).
A sample log sheet for recording the issuance and return of Pre-numbered Receipts to the user areas appears as Exhibit "A." A numbered log sheet that can be used to track the use of individual Pre-numbered Receipts issued appears as Exhibit "B." .
Current instructions and parameters for the use of Pre-numbered Receipts can be found on GURU, and Policy FN01 in the University Policy Manual.
It is especially important that each Pre-numbered Receipt be traceable to an AIS posting or to a Report of Cash Receipts.
The Financial Officer is responsible for monitoring the use of Pre-numbered Receipts on a continual basis. The spot-checking of number series is not acceptable.
The following are to be retained for the current fiscal year plus two (2) years, or until released by the University Auditing Department, whichever occurs first:
- The Pre-numbered Receipt
- 1st carbon (yellow) and 2nd carbon (pink),
- The Pre-numbered Receipt packing lists,
- The Systems and Procedures letter of acknowledgment, and
- All Pre-numbered Receipt Inventory Records.
The Financial Officer is responsible for ensuring that procedures pertaining to the accountability and safeguarding of all cash receipts, cash funds, and other assets are established and followed in accordance with approved University policies and procedures. Regular audits relating to advances, cash, travel, equipment accountability, and other expenditures provide a means to protect University assets. The Financial Officer is responsible for working with Internal Audit when audits are being performed in the administrative area, as well as performing an annual audit that is submitted to the Assistant Controller.
Record retention must be managed in accordance with Policy AD35 - University Archives and Records Management , and records schedules approved by the Records Management Advisory Committee, Office of General Counsel, and Office of the President. These retention requirements are the University's retention criteria, either derived or based upon federal, state, and local statute or regulations, industry standards, and business needs. Retention beyond recommended time periods require justifiable reasons and warrant review by the Records Management Officer or designee. All documents must be maintained in such a manner so as to provide ease of access for review, and to provide a suitable audit trail for all transactions.
- Documents subject to a Legal Hold (see AD35, Legal Hold). A legal hold will remain in effect until it is released in writing by the Office of General Counsel.
- Documents under audit or review, either internally or externally. The retention period extends until released by the Corporate Controller's Office. The Financial Officer will be notified regarding any accounts which are under audit; the Financial Officer will be responsible for contacting the department.
Additional questions may be directed to the University Archivist or the Records Management Officer.
For questions, additional details, or to request changes to this procedures, please contact the Associate Controller.
- Policy AD22 - Health Insurance Portability and Accountability Act
- Policy AD35 - University Archives and Records Management
- Policy FN01 - Processing Cash Revenues
- Blue/White Shredding Program
Date Approved: 10/31/1998
Most recent changes:
- Dated: 11/06/90 - Rev. 1a (Minor revision)
Revision History (and effective dates:)
- Revision I - dated 10/26/88
- Original - dated 06/14/71