Cashiering

POLICY STATEMENT
 
The purpose of the cashiering function in Student Business Services is to safeguard funds received on behalf of Delta State University and to ensure they are properly accounted for and receipted.  Departments involved with this process are Student Business Services, University Accounting, and the University Police Department.
 
DEFINITIONS
 
Cash deposits: Those deposits including cash and any cash medium, e.g. checks, money orders, cashiers checks, credit cards and/or traveler’s checks
 
 
PROCEDURES and RESPONSIBILITIES
 
Cash deposits and receipts totaling $1,000 or more are to be receipted with Student Business Services on a daily basis. All deposits less than $1,000.00 are to be receipted with Student Business Services on a weekly basis. Except for the cash designated as petty cash, all cash and cash medium are to be receipted through Student Business Services.  There are no exceptions. Each department is responsible for ensuring that proper documentation (pre-numbered receipts, cash register tapes, etc.) supports all cash medium transactions. All documentation is subject to audit and verification. All departments on Delta State University’s campus are required to request a police escort for any deposits over $250 in cash.
 
All cash and cash medium received on behalf of students for payment of tuition and fees, including continuing education courses, international travel courses, student organization memberships, or similar activities, should be deposited in the student’s account or a designated fund at Student Business Services.  Individual faculty and/or administrators developing a course requiring international travel should contact Student Business Services for proper procedures.  Individual faculty and/or administrators are not authorized to collect funds from students.  The process of collecting funds from students is the responsibility of Student Business Services.
 
Third party checks, checks not made directly to Delta State University, will not be accepted. Exceptions will be handled through Student Business Services. Student Business Services is the only department that can cash a check. There is a limit on the amount that can be cashed per person per day. Any check returned to Delta State University because of insufficient funds or a denial to pay from the bank on which the check is drawn will be charged back to the student account or designated fund, including an insufficient check charge. The returned check can only be paid with a money order, cashier’s check, or cash. The person writing the check will be notified within a 24 hour period that the check has been returned. The person writing the check will have thirty days from the date of the notification to reimburse Delta State University for the insufficient check. If the check is not paid in full, it will be turned over to Justice Court, the Attorney General or to a collection agency for collection depending upon the amount of the check and the status of the individual’s account with Delta State University.
 
 
 
RELATED DOCUMENTS
  • Student Business Services Procedures Manual
Print Friendly