Procedure PK2005 - Parking Meter Collection
Auxiliary & Business Services - Transportation Services
Policy Steward facilitating procedure: Associate Vice President for Auxiliary & Business Services
Table of Contents:
- CASH COLLECTION
- COUNTING, RECORDING AND DEPOSITING
- NON-U.S. COINS AND OTHER OBJECTS
- AUDIT COORDINATION - FINANCIAL AND PROCEDURAL
- RECORD RETENTION, DISPOSITION AND DESTRUCTION
- CONTACT INFORMATION
- CROSS REFERENCES
The Office of Business Services has several lots which have parking meters. This procedure establishes the fiscal controls necessary for the collected monies, as well as documents the disposition of non-U.S. coins and other objects.
Cash collected is not to be intermingled with petty cash funds, nor is it to be used for making purchases normally made from petty cash funds. Refer to Policy FN04.
Cash collected is not to be used for making personal cash advances to employees, or for cashing checks.
Refunds are not issued for parking meters.
The budget administrator and those assigned and authorized as designates are responsible for: accounting for parking meter keys; overseeing the operation of the parking meters; and verifying that funds are properly deposited and recorded.
The Parking Office utilizes Meter Trax software to monitor meter usage and revenue generated by individual meters.
On a scheduled basis (of no less than once a week with the exception of the December holiday), the meter collector collects the monies from the parking meters. The parking meters contain a locked coin box which is removed by inserting a key in the parking meter.
Prior to the Meter Collector removing the locked box, an electronic read of the monetary contents is performed by the Meter Collector. A hand-held unit is aligned with the sensor eye on the meter and the information is transferred to the hand-held unit.
The Meter Collector then removes the locked coin box and empties it by locking the coin box into a wheeled coin collector.
In the rare circumstance that the coin box is full, there exists a possibility that when the Meter Collector removes the coin box, several coins will fall into the parking meter. When this occurs, the Meter Collector will place the coins into the coin box. Due to the construction of the coin box, it is possible for coins to be placed into the coin box, but impossible for coins to be removed other than by locking the coin box into the coin collector.
After the coins are dropped into the wheeled coin collector, the coin box is removed, thereby locking the coin collector and the coin box. The locked coin box is returned to the parking meter, and the parking meter is locked. At no time during the collection process does anyone have access to the monies that are in the coin box or the coin collector.
When all parking meter coin boxes in each individual lot have been emptied, the wheeled coin collector is returned to the Parking Office by the Meter Collector. In the presence of the Meter Collector, the wheeled coin collector is unlocked with a key, which is maintained by the Parking Office Manager. The monies are identified by lot, placed in a secured bag, and stored in the Parking Office safe. Collection of all parking meter revenue is completed the same day.
In addition, the Parking Office staff also downloads the stored information taken at each meter from the hand-held meter sensor unit into the Meter Trax software. This information is used to compare to the actual revenue collected.
In the presence of a second parking office employee, the Meter Collector or other employee removes all secured bags (one for each lot, including one for all the 40 minute meters) from the Parking Office safe, and empties the monies into the coin counter bin one bag at a time. Upon visual inspection, all non-U.S. coins and other objects are removed (see section regarding Non-U.S. Coins and Other Objects). Each bag is counted twice for verification, and the amount recorded on the Meter Monies Collection Slip (Exhibit "A" ) for each applicable lot.
When all the individual bags have been counted and recorded, the individual amounts are totaled and recorded. All monies are then recounted through the coin counter, and the total of the coin counter must agree with the total recorded on the Meter Monies Collection Slip and the Meter Trax software.. Any variance must be resolved by the Parking Office Manager.
Monthly, all Meter Monies Collection Slips are totaled and the amounts for each lot are recorded on the Meter Monies Collection Summary (Exhibit "B" ). The Slips are attached to the Summary as support documents.
All monies must be deposited according to University Policy FN01. The total monies are recorded on a bank deposit slip, secured in a deposit bag, and placed in a safe until transferred for deposit.
The deposit is made according to Procedure CR2005 - Depositing Cash Revenues. All monies are transferred in a secured deposit bag according to Procedure CR2004 - Accountability for Transfer of Items of Value (except equipment).
All non-U.S. coins (except Canadian) and other objects (e.g., bingo chips, soda pull tabs, etc.) are removed from the coin counter bin during the visual inspection and placed in a bag for further inspection/concurrence from the Parking Office Manager. With the exception of Canadian coins, all other foreign coins and objects are transferred to Salvage and Surplus via the Report of Disposition or Permanent Transfer of Tangible Assets.
All Canadian coins removed from the coin counter bin during the visual inspection are placed in a secured bag and placed in the Parking Office safe.
Conversion - There exists a verbal agreement with the Parking and Transit Services Manager at McMaster University, Hamilton, Ontario, Canada for conversion of the Canadian coins. Periodically (at least once a year), the Parking Office will Federal Express the Canadian coins to the Parking and Transit Services Manager at McMaster University. The Parking and Transit Services Manager will arrange for the conversion of the Canadian coins for a draft in U.S. currency at the current exchange rate, and mail the draft to the Parking Office.
Recording - When the Parking Office receives the draft, a Meter Monies Collection Slip is completed by recording the amount of the draft in the "Total" section with an explanation detailed in the Comments section.
A Report of Cash Receipts (ROCR) is prepared for all monies collected and deposited, including the cash draft for Canadian coins. The ROCR is processed according to the instructions available from the OAS on-line IBIS documentation.
The Director of Finance and Administrative Services compares the ROCR to the validated bank deposit ticket to verify that all monies collected were properly deposited. The Meter Monies Collection Slip is filed by date. Any discrepancies are resolved by the Parking Office Manager or budget administrator.
At least once a year, a trend analysis is performed under the direction of the Financial Officer to ensure the integrity of the local record keeping system. Results of the reconciliation are reviewed by the Financial Officer.
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 detail, or to request changes to this procedure, please contact the Financial Officer, Finance & Business Business Operations.
- Policy AD22 - Health Insurance Portability and Accountability Act
- Policy AD35 - University Archives and Records Management
- Policy FN01 - Processing Cash Revenues
- Policy FN04 - Petty Cash and Change Funds
- Procedure CR2004 - Accountability for Transfer of Items of Value (except equipment)
- Procedure CR2005 - Depositing Cash Revenues
- Blue/White Shredding Program
Date Approved: 01/17/00
Most recent changes:
- Revision 2 - Dated 11/15/99 (previously was SY2005)
Revision History (and effective dates:)
- Revision 1 - Dated 11/24/93
- Original - Dated 02/03/93