Cash handling procedure statement


Indiana State University’s cash handling procedures require each area receiving cash to be approved by the Associate Vice President for Finance and Assistant Treasurer division located in the Office of the Controller, and to be verified as an authorized cash collection site. A cash collection site is defined as a department which handles cash on a regular basis. While there are departments or entities with collections of cash that are not recognized as official cash collection sites (e.g., agencies), they must follow the same cash handling procedures that apply to the cash collection sites. All cash collection sites that accept payment of any type, (cash, check, VISA/MasterCard, etc.) must comply with the guidelines and procedures issued by the Associate Vice President for Finance and Assistant Treasurer division.

All computer, tablets, and phone peripheral devices will not be used to store, process or transmit credit card information without appropriate approval from the Office of Business Affairs.  This prohibition applies to University departments and affiliated units such as centers.  This prohibition also includes student organizations affiliated with Indiana State University.  Prohibited technologies or software include but are not limited to card swipe devices, card readers, or NFC (Near Field Communication) devices.  Indiana State University prohibits the use of PayPal to accept online payments.  Any online payments must be processed through Payment Card Industry approved software that is validated by the PCI compliance team at ISU.  All online payment vendors must be approved by the Associate Vice President for Finance & Assistant Treasurer division located in the Office of the Controller.

Basic procedures required for cash collection sites follow. Please note that detailed requirements can be found in the Indiana State University Cash Collection Site Procedural Requirements document maintained in the Associate Vice President for Finance and Assistant Treasurer division located in the Office of the Controller.

Who Should Know These Procedures?

Any university employee entrusted with the responsibility of receipt, deposit and/or reconciliation of cash for university related activities.


Responsibilities

A department or agency that desires the privilege of becoming a cash collection site must submit a written request asking for authority to be established as a new cash collection site. Each department must abide by the Indiana State University Cash Collection Site Procedural Requirements which addresses cash handling responsibilities. Each cash collection site is responsible for the reconciliation of all deposits. For departments who wish to take payments via credit card, written requests must be approved by the Associate Vice President for Finance and Assistant Treasurer division located in the Office of the Controller. All processing equipment* will be obtained by the Associate Vice President for Finance and Assistant Treasurer division at the requesting department’s expense. All computer, tablets, and phone peripheral devices will not be used to store, process or transmit credit card information without appropriate approval from the Office of Business Affairs.  This prohibition applies to University departments and affiliated units such as centers.  This prohibition also includes student organizations affiliated with Indiana State University.  Prohibited technologies or software include but are not limited to card swipe devices, card readers, or NFC (Near Field Communication) devices.  VISA and MasterCard are the only two authorized credit cards accepted by Indiana State University. Departments that obtain the processing equipment accept the responsibility of ensuring the safeguarding of all sensitive information.   Indiana State University prohibits the use of PayPal to accept online payments.  Any online payments must be processed through Payment Card Industry approved software that is validated by the PCI compliance team at ISU.  All online payment vendors must be approved by the Associate Vice President for Finance & Assistant Treasurer division located in the Office of the Controller.

*Processing equipment includes credit card readers/printers and point of sale terminals. In addition, any cash register system that is used to process any payment made to the university, should be brought to the attention of the Associate Vice President for Finance and Assistant Treasurer division located in the Office of the Controller and the Office of Information Technology prior to purchase commitment.


Review and Approval of cash collections sites

Review and approval of new cash collection sites are conducted by the Associate Vice President for Finance and Assistant Treasurer division located in the Office of the Controller.

Periodic reviews of cash collection sites will be conducted by the Office of Internal Audit and the State Board of Accounts. Departments not complying with approved procedures may lose the right to function as a cash collection site. Requests to become a cash collection site should be submitted as indicated below.

Associate Vice President for Finance and Assistant Treasurer Division
Contact Information

Office of the Controller Account Analyst Area
Fiscal Operations Director, or
Accounting Services Supervisor
812-237-3511

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The University Board of Trustees reserves the right to change fees at any time in the future. The right to correct errors is also reserved.