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To download a PDF version of this policy, please click below.

Overview and Purpose

In order to be in compliance with University of Washington and state policy, UW Tacoma Cashier’s Office is aligning its cash handling policy with that set out by UW Banking and Account Operations (BA&O).

To download a PDF version of the UW policy, please click here.

UW Tacoma Department Specific Internal Controls

Each department is responsible for implementing, documenting, and maintaining sufficient internal controls and procedures to comply with the requirements of this policy.

Definition

For purposes of this policy, the word “cash”, covers all physical monetary items such as cash, coins, checks, money orders, traveler’s cheques, etc., excluding debit/credit cards.

Cash Deposits

Applies to all departments that deposit cash to University of Washington bank accounts

  • Record all cash received at the time of receipt.

    • Must keep a record of every type and amount of cash received.

    • The record must be reconciled to the deposits made by the department.

    • The record must record the following:

      • Date of receipt

      • Amount of receipt

      • Who sent the funds

      • Who recorded the funds received

      • What type of funds were received

  • All checks need to be made payable to University of Washington.

    All checks must be payable to University of Washington for acceptance:

    • Abbreviations of University of Washington are acceptable (i.e. UW, UofW, Univ of Wa, UWT, UW Tacoma).

    • Checks payable to University of Washington AND department name is acceptable.

    • Checks payable only to department name are NOT acceptable (i.e. School of x).

    • Checks payable to "Washington University" are NOT acceptable.

    • All unacceptable checks must be referred back to the maker and request that a new check is made payable to University of Washington.

  • Frequency of deposits must adhere to SAAM 85.50.20.

    • If the total amount exceeds $500, deposit all cash by the next business day.

    • If the total amount is under $500, deposit all cash at a minimum of once per week.

  • Endorse all checks with a UW endorsement stamp at the time of receipt.

    • Obtaining a UW endorsement stamp must go through uwtcash@uw.edu.

    • Each department is allowed one endorsement stamp free of charge.

      • Department budgets will be charged for any additional orders.

  • Cash Transmittal Forms (CTs):

    • Complete a CT form and paper clip the cash to the form.

  • Transportation of Deposits

    • Checks can be sent through campus mail or placed in the Dougan drop box located across from DOU 176. Cash cannot be sent through campus mail.  It can be placed in the drop box, or call 253-692-4669 to set up a time for pickup.

  • Deposits that relate to Grants/Contracts (GCA) and Gifts/Donations (Advancement) must be made by the following methods:

    • Grants and Contract Budget Deposits

      • Send all payments received to GCA via campus mail at Box 354966.

      • Reference a budget number and/or eGC1 number.

      • Attach all supporting documentation for the payment.

    • Gifts/Donation Budget Deposits

    • All departments are required to campus mail payments within 1 business day of receipt.

Transportation of Cash

Applies to all departments that transport cash from one location to another. This includes transportation to/from UW locations, or to/from a third party such as banks and cash vault.

  • Always store cash in a sealed bag and/or locked bag when transporting cash for any purpose.

    • ​​​​​​​Keep a receipt of the cash inside the bag for accountability purposes.

    • Departments can order locked bags through department supply orders.

      • Locked bags can be purchased through most office supply stores.

      • If the Cashier’s Office will be receiving the locked bag, you must supply the Cashier’s Office with a copy of the key.

  • Segregation of duties is required when transporting cash.

    • A minimum of two personnel are required to demonstrate proper accountability.

      • One person should count the cash that is placed inside the bag and place the receipt inside the bag.

        • This can be a 10-key tape that includes the deposit total and initials of the department staff member submitting the deposit.

      • When the bag reaches its destination, minimum of two personnel is required to open the bag and reconcile the cash to the receipt inside the bag.
        • One of the two personnel can include the person transporting the cash.

  • Do not leave cash unattended if transporting by  vehicle.

    • ​​​​​​​Do not leave the cash bag in a parked car or in checked luggage if traveling by plane/train/etc.

    • Maintain physical possession of the cash bag at all times.

    • Responsibility for lost/stolen cash falls on the department.

  • Contact Campus Safety if further assistance is required to transport cash across campus.

Storing Cash

Applies to all departments that store cash on premises.

  • Store cash in a secure and locked area at all times.

    • ​​​​​​​Restrict access to cash to as few personnel as possible.

    • Keep combinations/passwords/keys to cash storage in a safe place.

    • Only provide combination/passwords/keys to authorized personnel.

    • A cash safe/vault is the recommended method for storing cash amounts over $500.

    • Obtain a fireproof cash safe/vault.

    • Store the cash safe/vault behind a locked door.

    • A cash box with security lock is sufficient for cash amounts under $500.

      • If possible, obtain a fireproof cash box with security lock.

      • Place the cash box in a locked cabinet or drawer.

      • Locate the locked cabinet or drawer behind locked door.

    • Security cameras are highly recommended as a means of monitoring activity at any location where cash is being stored.

  • Departments must establish segregation of duties in regards to accessing the cash vault/safe/box.

    • Establish custodian(s) of the cash vault/safe/box.

    • Keep access to combination and/or keys to the storage unit at a minimum.

    • An individual other than the custodian must reconcile the cash stored in vault/safe/box on a monthly basis.

  • Never leave the cash storage vault/safe/box unattended when it is unlocked.

    • Always lock the cash storage vault/safe/box when vacating the area.

    • Only access the cash storage vault/safe/box when performing a required monetary activity, for example:

      • Making change or replenishing the cash register

      • Preparing a deposit

      • Storing change or any excess cash

      • Performing a cash audit

Revised July 26, 2019