Systems and Procedures
A Division of The Corporate Controller's Office
IN

Procedure RS2003 - Stone Valley Recreational Area Cash Sales and Accountability

Auxiliary Recreation Services

Policy Steward facilitating procedure: Director, Auxiliary Services

Table of Contents:


GENERAL:

Stone Valley Recreation Area is one of the University's five Auxiliary Recreation Services.

Stone Valley is a scenic educational and recreational area owned by The Pennsylvania State University, located 12 miles south of University Park. See Exhibit "A" for a map of the area. Facilities are available for outdoor schools, workshops, camps, seminars, and other educational activities, as well as boating, fishing, hiking, picnicking, ice skating and cross country skiing. Cabins, lodges, boats and a picnic shelter are available for rent.

Eleven rental cabins, located adjacent to the public use area near the Mineral Industries Office, are available year-round. The Civil Engineering (C.E.) Lodge is also available for rent year-round, and includes tent platforms with the rental. The other Lodge at the Stone Valley Recreation Area (referred to hereafter as "SVRA") is the Forestry Lodge, which houses the Shaver's Creek Environmental Center. Shaver's Creek Environmental Center is a separate function covered under University Procedure HD2008. There is a Boat Rental Office on the eastern shore of the lake, and a Boathouse on the opposite shore. In addition to boating-related fees income, these locations also sell limited food items and fishing supplies. The center of operations at SVRA is the Mineral Industries (M.I.) Office. The Supervisor, Assistant Supervisors and Secretary's offices are located in M.I., along with SVRA's computer system, safe, and other administrative necessities.

Sales at all locations are made according to posted prices, and income is collected, recorded, reconciled and deposited per procedural guidelines specified in this documentation. Fees are charged for the use of the various facilities, and damage deposits are required with facility rentals. A current approved schedule of all Stone Valley Recreation Area fees, charges, and deposits is on file in the Supervisor's Office.

All local accounting and report-generating functions are computerized via an on-site micro-computer located in the Mineral Industries Office. Electronic cash registers are used at three cash collection points: the M.I. Office, the Rental Building and the Boathouse. The Supervisor reserves the option of using either a fourth cash register or pre-numbered Entrance Fee Tickets at the Entrance Gates. Details on computer cash register operations are covered in the appropriate sections that follow.

The Supervisor at SVRA is responsible for all operations at the facility. In the Supervisor's absence, the Assistant Supervisors assume most of these responsibilities. Therefore, we have identified this split functional responsibility throughout the procedure in all situations where it occurs.

The Bookstore Business Office performs the accounting functions for all of the Auxiliary Recreation Services.

PROCEDURE:

SOURCE OF INCOME

There are four locations where recreation fees are collected:

At the Mineral Industries (M.I.) Office, cash is collected for the sale of Entrance Fee tickets, Boat Launching, Storage Permits, Season Memberships, and cabin rentals (and deposits). All items are recorded on a cash register at the M.I. Office, for which a change fund is maintained. The Office also has a safe used exclusively for keeping cash receipts, change funds, pre-numbered tickets, etc.. Change funds and pre-numbered tickets/receipts for all locations are signed out from the safe at the beginning of each day by the Supervisor/Assistant Supervisors. A log is maintained for transfer of accountability (covered in detail later).

Entrance fees are collected at the Entrance Gates either by the sale of Entrance Fee tickets, or by the use of an electronic cash register (and issue of cash register receipts).

At the Rental Building, located near the M.I. Office, cash is collected for boat rental fees (canoes, rowboats, paddle boats, sailboats), sailing lessons and tests, Daily Launch Permits, cross country ski rentals and lessons, confection items and fishing supplies. All fees and sales at this location are recorded on a cash register when collected. A change fund is also maintained for this register. The cash receipts, change fund, and pre-numbered tickets and/or audit stubs are secured in the M.I. Office safe at the end of each day following the daily reconciliation.

The Boathouse also receives cash for Entrance Fee tickets, confection items, fishing supplies, Daily Launch Permits, boat rentals, and sailing lessons/tests. All fees and sales are recorded on a cash register, and a change fund is maintained for the register.

In addition to these four locations, three soda and two juice machines also generate income at SVRA. One soda machine is located at the Rental Building, another at the Boathouse, and the third at the Civil Engineering Lodge. One juice machine is located at the Rental Building, and the other at the Boathouse. Receipts from the soda, juice, and ice machines are collected as necessary, recorded on either the Rental Building or M.I. Office cash registers, and included in the appropriate Cash Income Reports. The cash receipts for these four locations (including receipts from the soda, juice, and ice machines) are deposited at the designated bank, and the receipts reported through the Penn State Bookstore Business Office.

OPERATIONAL GUIDELINES

NOTE: This section is intended to outline specific operational policies and practices used at SVRA which need to be defined in detail prior to the main discourse of this procedure. Later, the following guidelines will be referenced to add clarification where needed.

Cash Register Operations

As mentioned previously, SVRA uses four cash registers: one in the M.I. Office, a second in the Rental Building, a third in the Boathouse, and the fourth is used at the discretion of the Supervisor at either (or both, if a fifth cash register is available) Entrance Gate(s). All registers are electronic and have an internal sales journal (audit tape) that records all transactions, as well as other features required to assure adequate financial control and audit trails. All cash received for goods and services available throughout SVRA (including parking and soda machine receipts) is recorded on one of the four registers. The registers have a sufficient number of "department" keys to permit the use of an individual key for each sales (item) category at SVRA.

The Supervisor/Assistant Supervisors at SVRA are responsible for providing employee cashiers with appropriate cash register operating instructions. If the amount shown on the "X" tapes does not exceed Policy FN01 deposit parameters, the "X" Tape and cash are reconciled and secured in the safe overnight. If an "over/short" condition exists on any day an "X" tape is run, the amount is noted on the tape and initialed by the Supervisor or appropriate Assistant Supervisor.

At the end of each day, the Supervisor or an Assistant Supervisor will clear the registers and print out the "department" totals using the register's control key to obtain appropriate details.

The "Z" report tape, which is a management report printed by the register, is printed each day that receipts reach FN01 deposit parameters. When cleared, the cash register department totals return to zero and the non-resettable clearing sequence numbers are advanced. These numbers are recorded on the Cash Income Reports for each location. When the internal audit tape runs out, the Supervisor replaces it.

Access to the "X" and "Z" report control keys is limited to the Supervisor and Assistant Supervisors only.

All "X" and "Z" Report clearing tapes and appropriate tickets, stubs, and other support information are filed in the Supervisor's Office at SVRA. All such documents must be held as specified later in this procedure, under the heading "Audit/Record Retention."

Boathouse Cash Handling

The Boathouse is open only on weekends during the boating season. Cash control is maintained with pre-numbered tickets and a cash register. Rental Agreements, confection items and fishing supplies are individually recorded at the point of sale (separate cash register keys), and are reported daily on the Incoming Detail Report for the Boathouse (Exhibit "B"). Confection and fishing stock is subject to weekly inventory by designated SVRA employees, verifying sales totals. This is covered in detail under the "Weekly Reconciliation" heading.

Change Funds

The change funds used at SVRA are signed out from the Assistant Director of Finance in the Bookstore Building. The Supervisor of the Stone Valley Recreation Area is designated as the custodian and is responsible for the handling and safekeeping of the funds.

Transfer of accountability from management to cashier is effected when change funds are removed from the M.I. Office safe and issued by the Supervisor/ Assistant Supervisors (prior to opening) each day. The Supervisor, Assistant Supervisors, and Secretary are the only individuals who have access to the safe. The cashier signs a "Change Fund Check Out/In" (Exhibit "C") log sheet that is maintained for this purpose. Also, a "Incoming Detail Form" (Exhibit "B") is prepared for the Rental Building and Boathouse at the beginning of each day by entering the date, beginning ticket numbers, etc.

At closing, the transfer from cashier back to management is accomplished when the Supervisor/Assistant Supervisors examines and initials the Daily Accounting Forms as receipts are collected from each location. This information is then key-entered into the computer system to prepare the appropriate set of Cash Income Reports (Exhibit "D") for the day. This information is subsequently recorded on a Report of Cash Receipts form prior to deposit.

Check Acceptance Policy

Checks may be accepted only for the payment of fees and sales at Stone Valley, in accordance with University Policy FN01, and the requirements outlined in this section.

A sign or placard will be posted in a prominent place at all locations where cash is collected. This sign must list the following information:

  1. A valid Penn State I.D. Card (students), or current driver's license (non-students), is required to use a check as a means of payment.
  2. All checks must be made payable to "The Pennsylvania State University" for the exact amount only.
  3. There will be a $10.00 fee for any checks returned by the bank.

When a patron wishes to pay by check, it must be prepared according to the above instructions. The Stone Valley cashier accepting the check will examine the patron’s identification and verify the data on the check: date, payee, amount, and signature. If all information is correct, the Supervisor or Assistant Supervisors are contacted to approve the check. All checks, regardless of amount, must be approved by one of these individuals prior to acceptance. When approved, the check is restrictively endorsed per University Policy FN01.

When a check is returned by the bank as invalid, SVRA is notified by the Bursar’s Office. It is SVRA’s responsibility to collect amounts due the University. (See Procedure #CR2001, “Processing Returned Checks at University Park.”) The fee (and returned check amount) must be collected before the facilities can be used again by the patron.

COLLECTION OF FEES, DEPOSITS, AND SALES INCOME

Entrance Fees

A “per person” Entrance Fee (also referred to as “service” fee) is charged for access to the facilities at SVRA on Saturdays, Sundays, and Holidays only. The collection of these fees is coordinated through (and change funds are signed out from) the Mineral Industries Office. The fee is charged to bicycle riders and “walkers” as well as motor vehicles.

There are two main parking areas - one near the M. I. Office and the other behind the Boathouse. Users must pass through a gate at each location.

The Supervisor reserves the option to collect the fee either by the sale of pre-numbered tickets, or by using a cash register at either site (or both sites when a fifth cash register is available).

Ticket Option - An SVRA cashier (wage-payroll) is stationed at each gate entrance. These cashiers sell consecutively pre-numbered Entrance Fee Tickets (Exhibit "E"). Different color and number series tickets are used for each parking area, and colors for both areas are changed from Saturdays to Sundays. One-half of the ticket is issued to the user, and the (“audit”) stub is held to be turned in as support with all unsold tickets and cash to the M. I. Office at the end of each day. The beginning and ending series numbers on the tickets are used in completing the Incoming Detail Form (Exhibit "B") and M. I. Office Cash Income Reports (Exhibit "D-1".)

Each cashier maintains a separate “cash box” and block of tickets to simplify the reconciliation process. Entrance Fee receipts from both locations are run through either the Rental Building or M. I. Office registers in one single dollar entry, and the daily reconciliation (audit stubs and unsold tickets to cash) is done by the Supervisor or an Assistant Supervisor in the presence of the cashiers.

Cash Register Option - At the entrance gates, the Supervisor has the option of using a fourth cash register to record Entrance Fees, instead of selling pre-numbered Entrance Fee Tickets. When the cash register method is used, the cashier rings the entrance fee into the cash register and the customer is provided a cash register receipt.

Group Rates - Special circumstances may require a different fee structure. For example, bus-load groups (that are not part of a “special program” where all fees are paid in advance) are charged a “per person” fee which may differ from the usual fee charged by SVRA. In these instances, the cashier, after consulting the Supervisor or an Assistant Supervisor, writes the total amount collected on both halves of the ticket and processes it normally. The reason for this variance will be noted on the appropriate Cash Income Report. This special fee does not exceed the fees approved by the Corporate Controller.

Concession Items

Concession items (confections and fishing supplies) are available to patrons over the counter at the Rental Building and at the Boathouse. Soda and juices are available in coin-operated machines at both of these locations. All sales of these items at both locations (except soda and juice) are rung into the registers at the point of sale.

All soda and juice machine receipts are entered into the M. I. Office or Rental Building register at the end of each day that they are replenished. Soda and juice inventory is stocked at the Rental Building, and entries are made on a Soda Inventory Control Sheet (Exhibit "F") when deliveries are received and machines are replenished. Transfers to the Boathouse and ice machines, when made, are also recorded on the Weekly Concession Report Form (Exhibit "G" covered later). All soda and juice machine operations are performed by SVRA employees under the direct supervision of the Supervisor or an Assistant Supervisor.

Purchase Orders for “Resale” items, such as concession items, are prepared as Standing Orders each year according to established University procedures. At the end of each month, an invoice is sent by each vendor to the Department of Purchasing Services, which in turn forwards them to the Bookstore Business Office for payment processing after verifying receipt by SVRA.

Season Memberships

Season memberships (Exhibit "H") are available for families and individuals and may be purchased at the M. I. Office by completing a Season Pass Registration Form and paying the appropriate fee. Pre-numbered season memberships are valid for one year from the date of purchase and offer the member free entrance to the facility and discounts on the services provided.

Fees collected are rung into the cash register under the “Miscellaneous” key and the patron is given the cash register receipt. The season pass number is written on the registration form and the forms are filed in numeric order in the M. I. Office.

The Supervisor and/or the secretary maintain(s) a computerized log for season memberships, and receipts are reported on the Cash Income Report (Exhibit "D-1") for the M. I. Office.

Cabin, Lodge, and Pavilion Deposits and Rentals

The M. I. Office at SVRA keeps reservation schedules so that one cabin or lodge is not rented to two individuals or organizations at the same time. Cabin rentals and advance-payment deposits are remitted to the Supervisor at the M. I. Office. Damage and key deposits are collected at SVRA, as described below.

Cabin rentals must be paid in full in advance for the fall season.

Individuals must complete a two-part Cabin Rental Agreement (Exhibit "I") before registering at SVRA. This may be accomplished by mail, when paying the deposit (or full payment), or upon arrival at the camp site. The customer keeps the yellow copy and returns the white copy by mail or in person with his/her deposit or full payment.

Payment for lodge and pavilion rentals are taken by the M. I. Office. The minimum lodge and pavilion rentals must be paid in advance at the M. I. Office. The Secretary at the Office will collect any charges in excess of the respective minimums by contacting the representative of the group after the date of the lodge rental. If the customer cancels a reservation of the lodge, pavilion, or cabin(s), the renter is given the opportunity to pick an alternate available date. Refunds are made only in extenuating circumstances at the discretion of the Supervisor.

When payment is received from cabin and lodge renters or pavilion users, the Secretary rings the amount into the M. I. cash register and provides the customer with a cash register receipt. The patrons are instructed to provide it to the Supervisor/Assistant Supervisors.

The Supervisor/Assistant Supervisors will use the patron’s receipt to verify the reservation and also to compute the final bill for cabins if the total amount has not been prepaid. All amounts collected for cabin advance-payment deposits and rentals are listed on the M. I. Office Cash Income Report on the appropriate line.

A damage deposit is collected by the cashier (per the current approved rate schedule) each time a non-University individual or group rents the C. E. Lodge. The deposits are collected at SVRA when the patron or group arrive and are secured in the safe only until an examination of the particular facility can be performed by an SVRA employee at “check out” time.

Historically, damages occur in only about 1% of the rental situations. For this reason, and to avoid the delay in processing a refund through the Bursar, the damage (and key) deposit checks are kept out of the reconciliation/deposit process and are returned to the patrons to be voided if no damage or loss is found when they leave.

In order to adequately control the collection of deposits, the patron must provide a check made payable to The Pennsylvania State University, for the amount of the deposit. (Cash will only be accepted at the discretion of the Supervisor.) This must be a separate check, and the deposit cannot be included on the same check with the rental fee. The Supervisor at SVRA will hold all damage deposits in the M. I. Office safe until the check-out inspection is performed. If no damage is found, the damage deposit is returned to the patron.

When damage is discovered, the entire deposit is retained until the necessary repairs are made. In this situation, the Patron’s check is held and deposited with other SVRA income for that day. The income is recorded on the local reconciling documents and the Report of Cash Receipts as “Retained Deposits.” The Supervisor will issue, to the patron, a Pre-numbered Receipt for the full amount of the deposit in the same manner as specified above in the “Issuing Receipts” section. If the deposit amount exceeds the cost of repairs, the difference is refunded to the patron via a Refund Request.

If damages exceed the deposit, the patron is billed for the excess amount.

Boat Launching and Storing Fees

SVRA patrons are charged a fee to launch and/or store their own boats. Daily launch fees are collected by SVRA employees at the Rental Building and Boathouse, while season launch and storage fees are collected at the M. I. Office (only).

Daily Boat Launching Permits are pre-numbered two-part forms (Exhibit "J"). When sold, both parts are date stamped. The larger part is to be attached to the patron’s boat and the stub portion is retained by the Supervisor/Assistant Supervisors as support for the Cash Income Report (Exhibit "D-3"). The beginning and ending number series used for the day are entered on the Incoming Detail Form and Rental Building/Boathouse Cash Income Reports (Exhibits "B" and Exhibit "D-3").

Season Launch (Exhibit "K") and Season Storage Permits (Exhibit "L") are issued upon completion of a permit application and paying the appropriate fee. The permits issued are stickers that are attached to the patron’s boat. Different colors are used for the Launching and Storage Permits, and the colors are changed each year. When a student purchases a Permit, the Stone Valley cashier making the sale will ask to see a valid student ID card to verify current registration in order to obtain the reduced rate. A Storage Permit Agreement or Season Launch Agreement is prepared for Stone Valley’s records, which includes the purchaser’s name, address, boat registration number and type of Permit issued. These are filed numerically by permit number, for the season.

All of these fees collected at the Rental Building, Boathouse and M. I. Office are entered in the cash registers when Permits are issued. At the time of clearing a register, in addition to the “Z” report information obtained, a daily Incoming Detail Report (Exhibit "C") is completed by the Rental Building/Boathouse/M. I. Office employee. This form is reconciled against the cash-in-drawer and “Z” Report at the end of each day, and is the basis for the preparation of the Rental Building/Boathouse/M. I. Office daily Cash Income Report (Exhibit "D") generated by the Computer System.

The beginning and ending numbers of Season Launch and Season Storage Permits issued will be entered on the appropriate daily Cash Income Report.

Boat Rentals

Several types of boats are available for rent to both students and non-students at the Boat Rental Building and Boathouse. These include canoes, row boats, paddle boats, and several classes of sail boats. SVRA cashiers must verify the current student registration of all patrons renting boats at student rates. Only qualified operators holding current Sailing Cards may rent sailboats.

When a patron rents a boat, both copies of a two-part Boat Rental Agreement (Exhibit "M") are inserted in a time clock and imprinted with the “Time Out.” The employee will mark the type of rented (student or other), the type and number of the boat rented, and other required information on the form. Each renter is required by law to list his or her name and address in the space indicated on the ticket. The original (top-white) is retained in a “hold” file, and the carbon copy (yellow) is given to the boat renter. A current PSU ID card or vehicle operator’s license is retained with the file copy until the patron returns.

When the renter returns the boat, he or she will submit the yellow copy to the employee. The appropriate Boat Rental Agreement is pulled from the hold file, inserted in the time clock, and is imprinted with the “Time In.” The amount due is computed and both copies of the form are inserted in the cash register and imprinted with the total dollar amount. The renter pays this amount and is given the cash register receipt. The yellow copy of the Agreement (also imprinted) is attached to the original and is retained in the office until the end of the day, and filed in the M. I. Office in numeric sequence with the other Boat Rental Agreements.

Sailing Lessons

Boat Rental Agreements are also used to account for sailing lessons. The words “Sailing Lessons” are written at the bottom of the form and the appropriate rate is noted.

For private sailing lessons, the time clock is used to compute the amounts due, as explained earlier for Boat Rentals. A flat rate is charged for group sailing lessons. A separate register key is used and the amounts received for sailing lessons are entered on the line provided on the appropriate Cash Income Report. Also, as outlined previously, the originals and the yellow copies of the Agreements are turned in at the end of each day.

Stone Valley employees working as sailing instructors are paid on the wage payroll according to existing payroll procedures. A Wage Payroll Card is completed electronically via WAGC in IBIS.

Special Programs

During the year, a number of Special Programs are held at SVRA. These are of two basic types:

  1. Programs sponsored by SVRA in conjunction with an outside agency.
  2. Programs sponsored independently by an outside agency or a University department other than SVRA.

When SVRA sponsors a special program, costs are estimated and the fee is established by the Supervisor. These fees may vary from program to program and must be approved by the Corporate Controller. The fee is collected when the participants arrive, or if pre-arranged, the cooperating agency is billed at a later date. When fees are collected upon arrival, an employee at SVRA will prepare a Pre-numbered Receipt for each payment received. The original is given to the participant, and the second copy is attached to the Financial Officer’s copy of the Report of Cash Receipts when it is prepared. The third copy is retained as an audit copy at SVRA.

The M. I. Office change fund is utilized and a separate Report of Cash Receipts is prepared by the Supervisor in accordance with the instructions on page 1.1 of the General Forms Usage Guide to report special program receipts. The Pre-numbered Receipt series issued is entered on the Report of Cash Receipts and the money is transferred by the Supervisor to the designated depository via a locked bag with the regular deposit (covered later).

The Office at SVRA will use the University Park Invoice Form to bill agencies when arrangements have been made to handle the program in this manner. The Invoice is completed in original and four copies. Department number 327-15, Fees Income, 1003, Object Code 029 is credited for the amount billed.

When a special program is sponsored independently by an Agency or department other than SVRA, it is treated in the same manner as an individual renting the facilities in that the Lodge and Pavilion rentals must be prepaid, and an advance deposit is required for cabins.

Cross-Country Ski and Skate Rentals

Cross-country ski equipment and ice skates are available for rent during the winter months. This includes boots, skis, poles, and skates. An SVRA employee at the Rental Office is to verify current student status by requesting a valid ID card for all student patrons in order for the student to receive the reduced rate.

Appropriate information is entered on a pre-numbered two-part Ski and Skate Rental Agreement (Exhibit "N") for each patron or group. A time clock imprinted copy is torn off and given to the patron (or a representative of the group) and serves as the patron’s copy of the legally-binding agreement. A current vehicle operator’s license, or student ID is requested and held at the register until the equipment is returned. All damaged or lost equipment must be paid for when the patron returns.

When the patron returns, he or she should present the yellow copy of the Agreement to the employee. The “Time In” is imprinted and the fee due is computed. Equipment is checked at this point for damage. If damage or loss is noted, the appropriate amount is determined and added to the amount due. In the event that it is not settled at that time (or the equipment is not returned), full recourse under the law is pursued by SVRA using the information on the operator’s license (or student ID).

The total amount due is computed and both copies of the form are inserted in the cash register and imprinted with the dollar amount. The amount is rung on the register and the patron is provided a cash register receipt. The yellow copy is attached to the original and retained until the end of the day for reconciliation.

RECONCILING AND REPORTING INCOME

Internal Cash Income Reports

Separate internal Cash Income Reports are prepared by the SVRA Supervisor/Assistant Supervisors/Secretary for each location as follows:

Each day that receipts reach FN-1 deposit limits, or at least weekly, an internal Cash Income Report (Exhibit "D") and Report of Cash Receipts (discussed later) is prepared.

The Cash Income Reports are generated by the computer based on data key-entered from the Incoming Detail Forms (Exhibit "B") (Rental Building and Boathouse) and cash register audit tapes/management reports. The “Z” Reports providing the computer “department” sales from each register plus the Pre-numbered Receipts equals the “cash in drawer” totals to be reconciled with the physical cash counts.

NOTE: During the week, if register “X” tape totals do not meet FN01 deposit parameters, the amount in the drawer is counted and compared to the “X” tape totals. Any cash difference is marked on the “X” tape, and the tape, cash and change fund are locked in the M. I. Office safe overnight.

To prepare the internal Cash Income Reports in each area, the cash from each register is counted in the presence of the cashier, and the individual income category (department) amounts less change funds is entered as appropriate. All daily accounting forms, cash and support documents (ticket stubs, unsold tickets, audit tapes, etc.) are collected from each location at the end of the day by the Supervisor/Assistant Supervisors when the registers are cleared. All cash and unsold tickets are locked in the M. I. Office safe after the reconciliations are done.

Following data input, each Cash Income Report is printed out, dated and reviewed for accuracy prior to signing by the Supervisor/Assistant Supervisors (and other person preparing form, if appropriate).

Weekly Reconciliation/Physical Inventory

A Weekly Concessions Report (Exhibit "G") is completed each Monday. It is a control document used to verify computed sales on the Cash Income Reports with an actual item count provided by a regular physical inventory.

Inventory of the concession items and fishing supplies at the Boathouse and Rental Building is taken weekly to expedite reordering. The inventories are performed by taking an actual physical count of items in stock. This is done by an SVRA employee under the direct supervision (and in the presence of ) the Supervisor or an Assistant Supervisor.

All entries on this form (except “Cost/Item” and “Totals”) are in units. The current “Original Inventory” is the previous week’s “Ending Inventory” figure. Each item category, the unit cost, and sale price are key-entered from work sheets, and the totals are calculated by the computer.

Packing Lists and Receiving Reports for inventory received are kept for a week in order to complete the reconciliation. These documents are then forwarded to the Bookstore Business Office for processing and payment against the invoices.

When all this information has been key-entered, the computer will generate the completed Weekly Concession Report. The Supervisor/Assistant Supervisors will perform a reconciliation of the items for resale (concessions) by comparing the “actual” totals from this form with the “computed” totals from the set of Cash Income Reports for the time period involved (this total is provided by the Weekly Concessions Report - Exhibit "G" - covered in detail below).

The “Total - All Concessions” dollar figure (at the bottom of the Weekly Concession Report) should equal the “Total - From Cash Report” figure for the period. If the totals do not agree, the variance is calculated by the computer and listed as “Total - Over/Short.” These variances are closely monitored, and if necessary, corrective action is taken by SVRA management by performing daily inventories until the problem is rectified.

DEPOSITING AND REPORTING RECEIPTS

Deposits

When the total of cash and checks on hand reaches the prescribed limits as stated in University Policy FN01 (or at least weekly), the Supervisor/Assistant Supervisors will prepare the receipts for deposit. The Supervisor/Assistant Supervisors deposit the cash receipts at the designated bank and obtain a validated copy of the deposit slip.

All receipts are deposited in accordance with Policy FN01 in the University Policy Manual, and per Procedure CR2005 - Depositing Cash Revenues.

Report of Cash Receipts

Upon completing the internal Cash Income Reports, the Supervisor/Assistant Supervisors at the Mineral Industries Office prepares a Report of Cash Receipts using the data provided on the internal Cash Income Reports. One copy of each Report of Cash Receipts is retained with all corresponding support attached, and the set is filed by the Supervisor at Stone Valley. A numerical sequence is maintained for Reports of Cash Receipts.

The remaining copies of the Report of Cash Receipts and a validated deposit slip are taken to the Bookstore Business Office.

Cash Receipts Summary

With each Report of Cash Receipts (which may contain more than one Internal Cash Income Report) and after all Cash Income Report Reconciliations have been completed, the Supervisor/Assistant Supervisors will prepare a Cash Receipts Summary (Exhibit "O"). Income Reports from all locations are arranged in chronological order, and figures in the respective columns are key-entered on the Cash Receipts Summary screen. Daily total overages or shortages are entered in the appropriate space and are totaled for the report period at the bottom of the sheet by the computer. The form is to be signed and approved as indicated.

PROCESSING RETURNED CHECKS

See Procedure CR2002 - Processing Returned Checks.

AUDIT COORDINATION - FINANCIAL AND PROCEDURAL

Periodically, the Financial Officer verifies the numerical sequence of the three part Pre-numbered Receipts, tickets, passes, permits, reset numbers, etc.. This is done by comparing sequential Reports of Cash Receipts and balancing dollar totals to the copies of the receipts and other information attached to the RCR.

The Assistant Director of Finance (Bookstore) and Supervisor are responsible for monthly reconciliations to the Central Accounting Records to ensure that the monthly fiscal reports reflect that income was properly credited per this procedure.

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, DISPOSITION AND DESTRUCTION:

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.

Upon expiration of a stated period of time, documents must be discarded and/or destroyed, unless permission is granted by Records Management Officer or designee to retain the records. Archival records created more than 20 years prior to the current date must be reviewed before destruction. Units should also contact the University Archivist before discarding any document which may be of permanent or historical value to the University. To safeguard the privacy of individuals, documents that contain salary information, personally identifiable information (PII), or student records must also be shredded. See Policy AD53 - Privacy Policy and AD22 - Health Insurance Portability and Accountability Act for additional information regarding privacy and the protection of an individual's personal information. For documents that must be shredded, departments may arrange for Blue Bag service by contacting the Blue/White Shredding Program of the Office of Physical Plant. Exceptions to the practice are as follows:

Additional questions may be directed to the University Archivist or the Records Management Officer.

EXHIBITS:

CONTACT INFORMATION:

For questions, additional detail, or to request changes to this procedure, please contact the Financial Officer, Aux Rec Services.

CROSS REFERENCES:


Procedure Status:

Date Approved: 01/06/92

Most recent changes:

Revision History (and effective dates:)