D-680.1 Cash Receipts

All funds received by the College, whether cash, currency, checks, debit card transactions, or credit card transactions, must be turned over to one (1) of the Employees entrusted with handling the College’s funds on the same day as the receipt of funds. Authorized Employees include the Registration Desk Staff and the Fiscal Clerk. Registration desks are maintained at the Beloit-Janesville and Monroe Campuses. The Fiscal Clerk is located in the Central building. Employees should encourage individuals making payments to the College to make these payments directly to one of the Authorized Employees.

For events at which payments will be collected, prior arrangements must be made with the Fiscal Clerk or Registration desk to obtain a sealable tamper-evident bag and instructions for the safekeeping and timely deposit of cash received. Funds collected at events shall be placed in the Registration cash drop safe. Cash collected from these events should not be kept in desk drawers or other unsecured places.

Finance staff are to close out, balance, and reconcile registration cash drawers as designated by the Director of Financial Services (or, in the case of the Monroe Campus, the Administrative Assistant) daily. Cash closed out of the Registration cash drawers must be deposited in a timely manner in a depository authorized by the District Board. Cash drawers must always be locked or attended by the person responsible for that drawer.

Registration cash drawers are not to be used for petty cash reimbursements. Currency in the Registration cash drawers can only be used to change currency transactions. Currency from the Registration cash drawers must not be used to cash or exchange checks.