lonemountain     
Overview of the campus
People walking on Lone Mountain
flowers_150   
Negoesco soccer field at the University of San Francisco     
churchdomes_150  
Golden Gate Bridge at noon  

Department Cash Handling Policy - Appendix B

Physical Security of Cash Collections

Departments that regularly collect cash must establish the following procedures to ensure the physical security of such collections at all times, including when transfers of cash are made to the University Cashier :

  • Cash must be locked in a fire-resistant safe at all times except when used for working cash.
  • Excess cash must be removed from the cash register drawer during the business day and transferred to the safe. At the close of business, all cash must be transferred to the safe.
  • Each department must use a fire resistant depository safe to store cash in accordance with the following cash limits:
    • Up to $25,000 - in a steel-door safe with a door thickness of not less than one half (½) inch.
    • More than $25,000 - in a class TL-15 composite safe or better.

Safes should be floor or wall-mounted to prevent their removal from the department’s premises. The purchase and installation of all safes must be approved by the Vice President for Business and Finance. In addition, the department must send a work order to Facilities Management to schedule the installation, if approved by the Vice President.

  • If cash is regularly on hand, the department shall install a manual robbery alarm system for use during business hours to alert Public Safety if an emergency occurs.
  • If more than $10,000 in cash is stored, the department must install security cameras and an automated alarm system to alert Public Safety if the storage area is entered after business hours.
  • The safe’s combination must be given only to authorized personnel and their supervisors who must then commit the combination to memory. A record of the combination must be maintained in a sealed envelope away from the safe area. It should be sealed and opened only under dual custody to prevent unauthorized access.
  • The safe’s combination must be given only to authorized personnel and their supervisors who must then commit the combination to memory. A record of the combination must be maintained in a sealed envelope away from the safe area. It should be sealed and opened only under dual custody to prevent unauthorized access.
  • A safe that requires a combination and a key to gain access must have two different custodians. At least two employees shall be assigned the combination and two different employees shall be assigned a key. An extra key shall be sealed in an envelope, recorded, and maintained in the same manner as described above for a combination. Similar procedures must be maintained for a safe that requires two combinations to gain access.
  • A safe must be opened in such a way that the combination is not viewed by other persons or security cameras.
  • The safe must be locked between uses during business hours.
  • A safe’s combination must be changed whenever a person who knows the combination leaves the employ of a cash-handling unit. In addition, the combination must be changed at least once a year. Documentation must be maintained showing the date and the reason for all combination changes.
  • Duplicate keys must be safely stored away from the safe and be retrieved only under dual custody.
  • Funds or property not related to the operation of the University must not be stored in the safe.
The Office of Internal Audit and Tax Compliance will periodically review the physical setup of department cashiering stations to ensure that appropriate security is provided.

Collections Transferred to the University Cashier

Department collections recorded on a DDR for deposit with the University Cashier will be transferred in a secure manner in order to protect the financial assets and individuals involved in transport.
  • Deposits must be transferred by employees, in dual custody, transporting (walking or driving) the deposit to the Cashier. If the cash deposit is in excess of $1,000, employees should be escorted by Public Safety
  • Campus mail shall not be used for transferring deposits of cash collections (or collections of cash equivalents and checks). 
Any deviation from these procedures may adversely impact the University’s liability insurance coverage.

1 The dollar limits included in this Appendix apply only to collections of cash and not collections of cash equivalents and checks. Cash equivalents and checks, however, must be safeguarded in the same manner as cash to prevent their loss or misappropriation.