Link: Click to go to Montana State University-Northern's Home page
Administrative Policy and Procedures Manual
Section 800: Financial Affairs
810 Cashier Activity
Effective: February 2013
Review Date: February 2015
Responsible Party: Director of Business Services

The MSU-Northern Office of Business Services oversees receipt of funds for the University. Normal business hours are from 8:00 am - 5:00 pm Monday through Friday. Other hours may be designated for special purposes.

The basic cashier function of the Office of Business Services is to receive and record payments from students and all other income for MSU-Northern departments and projects. In order to retain a segregation of duties, another member of the office will be responsible for making deposits collected from the cashier(s).

Refer to Montana Operations Manual (MOM) 399 The Internal Control Guidebook, 325 Cash Accounting , 326 Non-Treasury Cash Accounts.

Departmental Change Funds

  1. Change funds will be established only in those cases where a department need is demonstrated. Change funds are to be used to provide change in situations where customers are paying for purchasing a product or paying admission to an event. They are not to be used for cashing personal checks or for personal loans. At the start of each day, the account should contain only the authorized amount.
     
  2. Permanent funds will be requested from the State Treasury while small temporary funds are provided by Business Services. Permanent funds will be established only upon approval by the Director of Business Services.
     
  3. Business Services will conduct periodic unannounced audit reviews of change funds and will maintain documentation of those audits.
     
  4. Each cash change account should be physically segregated, and must be adequately secured. When a cash change account is not in use, or is unattended for even a brief time, it must be appropriately secured. At a minimum, a lockable strong box must be used, which must be secured in a locked drawer or cabinet at all times.
     
  5. The number of people permitted access to a cash change fund should be kept to a minimum. A list of individuals with access to the change funds must be maintained by Business Services.

Refer to MOM 326 Non-Treasury Cash Accounts

Payment of Student Accounts

Students may go to MYINFO to pay their charges on the web by credit card or e-check, pay with credit card over the phone, or they may come to Business Services pay by check, cash, credit card, or a combination.

Funds Collected at Locations Other Than Business Services

Checks must be endorsed at the time of initial receipt. Contact Business Services if your department needs a stamp for endorsing checks.

There are various types of collection of funds that occur. These are the requirements for each type of collection:

  1. Cash register or POS System sales
    1. Reconcile and deposit funds with Business Services daily
    2. Include reconciliation sheet verified by reports from register or system
    3. Settle credit card sales daily
       
  2. Admission to events
    1. Numbered tickets are checked out from Business Services
    2. Tickets must be torn off for each paid entry to the event
    3. Reconciliation sheet completed, balancing to number of tickets sold
    4. Funds will be deposited with Business Services on the next business day following the event.
       
  3. Concessions
    1. Beginning and ending inventory will be used to calculate amount that should be deposited.
    2. Inventory sheet will be completed and signed, then included with deposit
    3. Funds will be deposited with Business Services on the next business day following the event.
    4. Ending inventory from previous event should be compared to beginning inventory of next event to ensure product inventory is consistent.
       
  4. Student Fundraising Activities
    1. Receipts are not required
    2. Timely deposit of funds in Business Services is required
    3. Reconciliation sheet with funds counted and verified must accompany deposit
    4. Clubs are not allowed to open bank accounts outside of MSU-Northern
       
  5. Extended University and Related Training
    1. Only students with payment up front are registered for classes.
    2. Only checks and credit cards are acceptable payment for class registration.
    3. All payments and class registrations are reconciled by the departments and processed through the Business Services.
       
  6. Other Funds Collected
    1. Examples: Athletic Camps, Housing deposits, Recreational Services and Student Health Service
      1. Sequentially numbered receipts must be used.
        1. Receipts available for check-out from Business Services.
      2. Receipt must be written at time funds are received, with the original given to the payer.

Departments are required to deposit all cash and checks daily if the amount is $200 or more. If less than $200, deposits must be made at least weekly.

Funds should be secure at all times. Keys and combinations to safekeeping facilities should be secured at all times. At least two people should have knowledge of location of keys or a safe's combination, and a list of those people is to be maintained in Business Services. Keys and/or combinations should be changed when persons having knowledge or possession of them leave MSU-Northern's employment.

Refer to MOM 325 Cash Accounting, V. Internal Controls

Top