6600 - DEPOSIT OF PUBLIC FUNDS: CASH COLLECTION POINTS

Monies received at cash collection points throughout the ESC shall be deposited in accordance with this policy. Cash collection points are any areas within a school where money flows into the ESC. Currently identified cash collection points are admission fees to athletic events, lunchroom sales, classroom fees, student activities/fundraisers, and miscellaneous money coming through the Treasurer/CFO’s Office such as grants, interest, donations, sale of fixed assets, and taxes.

Persons who receive monies at cash collection points shall identify any discrepancies in cash receipts or ticket sales. Each seller shall provide a written explanation of each discrepancy to their immediate supervisor, who shall report all findings to the Treasurer/CFO. All discrepancies, even those rectified, shall be reported to the Treasurer/CFO. Such reported information shall be used in performance evaluation and adjudicated in accordance with ESC procedures or as provided by law.

Acceptance of check or credit card overpayment to provide cash back is prohibited.

Persons who receive monies at cash collection points in the ESC are required to deposit all monies received with the Treasurer/CFO on the next day of receipt. Persons who receive money at cash collection points are responsible for its safekeeping until the money is deposited with the Treasurer/CFO. Ordinarily, the money shall be secured in a locked desk, file cabinet, safe, or other secure room on school property, and it shall never be taken home. The Treasurer/CFO is directed to develop, distribute, and implement procedures addressing the provision of receipts (where applicable) to the payee(s), and proper segregation of duties for the receipting, depositing, recording, and reporting of cash. These procedures should be particularized to each cash collection point and should include flowcharts as appropriate. The procedures should further address the need for completion of timely bank reconciliations so that “unreconciled differences” can be identified and resolved.

All moneys collected shall be receipted, accounted for, and deposited with the Treasurer/CFO or properly designated depository every twenty-four (24) hours. In the event that the person in charge of an activity is unable to deposit the money within twenty-four (24) hours, the money shall be accounted for and deposited in the building safe of each ESC building. If a safe is not available, then the money shall be deposited in the Treasurer/CFO Office’s safe. If the amount does not exceed $1,000.00, the money can be held no longer than three (3) business days after receipt before being deposited. If the amount is more than $1,000.00, or the money cannot be adequately safeguarded, it shall be deposited on the next business day following the date of receipt.

No more than $50.00 shall be left overnight in an ESC building if that building does not have a safe.

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