Current through all regulations passed and filed through March 18, 2024
(A)
Oversight and
authority
(1)
Shawnee state university shall manage the handling and
depositing of all forms of currency including cash and other receipts in
accordance with accepted fiscal regulatory standards.
(2)
The oversight
authority for this effort resides with the vice president for finance and
administration or designee. The office of the controller is charged with
establishing appropriate controls for the effective day-to-day handling of
currency.
(3)
The office of the controller is the only entity
authorized to open and/or operate a Shawnee state university bank account. All
others, including student organizations, are prohibited from opening a separate
bank account which utilizes the name or tax identification number of Shawnee
state university.
(B)
Collection/handling of money
(1)
Requests for
approval to charge admission, or to collect money, in any form, must be
obtained in writing from the office of the controller. Such requests must be
submitted through the administrative chain of officials and authorized by the
appropriate vice president or president (for direct reports).
(2)
Per section
9.38 of
the Revised Code, all university departments or individuals receiving cash,
checks or credit card payments from any source are required to deposit such
funds in the bursar's office within twenty four hours of receipt or on the next
business day.
(3)
University representatives receiving cash must maintain
auditable records and follow procedures set by the office of the controller
(e.g., retain copies of deposit receipts, deposit transmittal forms,
etc.).
(C)
Credit cards
University offices interested in accepting
credit card payments must obtain approval from the office of the controller
prior to executing any agreements related to the acceptance and/or handling of
credit card payments following established procurement
guidelines
(D)
Charitable gifts
All charitable gifts to Shawnee state
university are to be forwarded to the Shawnee state university development
foundation (SSUDF) following the established timelines in accordance with
university and SSUDF guidelines.
(E)
Procedures
Procedures for cash management and related
functions shall be established and made available at the office of the
controller's website.
Replaces: 3362-4-11
