Cash Handling Roles & Responsibilities

Department Level

Department Cash Handling Role Administrator

Policy:  Required Role
This person can be the Department Administrator (DA) or any other individual deemed appropriate by the Business Officer.  We recommend that this person be someone different than any of the individuals in the other roles.  However, if no other option is available, we strongly recommend that role overlap is limited to only the Local Cash Handling Control Manager or Cash Collection Point Supervisor. Overlap with other roles will be allowed if necessary provided the assignments are in compliance with the role overlap restrictions described below.

Description of Role

  • Maintain timely, accurate & effective communication with all local cash handling control managers in the department.
  • Update cash handling roles for all payment receipt locations at the sub-department level in a timely and accurate manner.

Audit Control:  None.  If role overlap is necessary, we strongly recommend that it is limited to only the Local Cash Handling Control Manager & Cash Collection Point Supervisor.

Sub-department Level

I. Local Cash Handling Control Manager

Policy:  Required Role
We recommend that this person be someone different than any of the individuals in the roles. However, if no other option is available, it may be the same person as the Cash Collection Point Supervisor.

Description of Role

  • Maintain strong internal controls for payment collections at the payment receipt location level and safeguarding against loss.
  • Annually, review local cash handling procedures and update as needed. At a minimum, resubmits procedures every 3 years to AFR for approval.
  • Notify the Departmental Cash Handling Role Administrator of staff role changes so Institutional Roles-Cash Handling can be updated.

Audit Control:  No overlap in roles except with Departmental Cash Handling Role Administrator & Cash Collection Point Supervisor.

II. Biller

Policy:  Optional Role
We recommend that this person be a different individual than any of the other roles.  However, if no other option is available, it may be the same person as Reconciler.

Description of Role

  • Create and send invoices.
  • Record sales as appropriate.
  • Update the accounts receivable system.

Audit Control:  No overlap in roles except with Reconciler.

III. Cash Collection Point Cashier

Policy: Required Role
We recommend that this person be a different individual than any of the other roles.  However, if no other option is available, it may be the same person as Deposit Preparer.

Description of Role

  • Conduct cash transactions with customers
  • Provide a receipt to customer paying in person.
  • Endorse all checks immediately upon receipt with a restrictive University of Iowa endorsement.
  • Enter transactions into accounts receivable system, cash register or cash receipt journal/log.
  • Count the cash and submit the cash & supporting documentation to the Cash Collection Point Supervisor at the end of their shift.

Audit Control:  No overlap in roles except with Deposit Preparer.

IV. Cash Collection Point Supervisor

Policy: Optional Role
We recommend that this person be a different individual than any of the other roles.  However, if no other option is available, it may be the same person as Local Cash Handling Control Manager.

Description of Role

  • Monitor cash receipting functions.
  • Authorize various transactions, such as refunds, voids, and cash drawer reconciliations.

Audit Control:  No overlap in roles except with Departmental Cash Handling Role Administrator & Local Cash Handling Control Manager.

V. Deposit Preparer

Policy: Required Role
We recommend that this person be a different individual than any of the other 5 roles.  However, if no other option is available, it may  be the same person as Cash Collection Point Cashier.

Description of Role

  • Retrieve & count cash receipts from the business day.
  • Prepare the deposit.
  • Store the cash in a secure location until it is deposited.
  • Deliver deposit to the bank or designated deposit drop location.
  • Submit accounting information through the eDeposit system within 3 working days of the bank deposit.
  • Deliver each validated deposit slip/eDeposit form to the Reconciler.

Audit Control:  No overlap in roles except with Cash Collection Point Cashier.

VI. Reconciler

Policy: Required Role
We recommend that this person be a different individual than any of the other roles.  However, if no other option is available, it may be the same person as Biller.

Description of Role

  • Verify that the Deposit Preparer has deposited all cash received.
  • Reconcile eDeposit forms to the supporting documentation and to the Transaction Detail Report (TDR).
  • Cannot have access to the cash at any point, i.e., cash drawer or box, safe.

Audit Control:  No overlap in roles except Biller.

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