Cashier
Policies
Policy 1- State Policies Regarding the Receipt of Funds
State Regulations Reference - The North Carolina General Statute 147-77 , Daily Deposit of funds to Credit of Treasurer, is the governing regulation concerning the receipt and deposit of funds by the University. Briefly stated:
Deposit to Credit of State Treasurer:
- All revenue and other receipts collected by a State agency, belonging to the State of North Carolina, shall be deposited to the credit of the State Treasurer in a depository bank as designated by the State Treasurer. Such funds shall be deposited on the next business day following the date of collection.
State warrants received must be deposited directly with the State Treasurer instead of the local depository bank when the sum of the warrants exceeds $500.00.
Deposit All Receipts:
- Checks received by an agency are to be made payable to the order of that receiving agency. However, checks made payable to the State Treasurer are also acceptable. All cash collections are to be deposited. These funds are not to be disbursed as all disbursements must be made in accordance with official budgetary procedures and by checks drawn on the State Treasurer.
Agency Definition:
For the purpose of this statement, the terms "State agency" or "agency" should be interpreted "University."
Policy 2 -
Collection of Cash Outside the University Cashier's Office
Responsibilities - Many Appalachian State University departments are responsible for collecting University related receipts from students, faculty, and staff. Sound accounting practice requires that an accurate record of all such receipts be retained in the event of future audit. This statement outlines the policies for the collection of cash outside the Cashier's Office.
Approval Form - Departments that need to collect cash must complete a "Request for Authority to Establish Receipts Collection Point" form before collecting any money. After the form has been approved, an appropriate cash collection method will be designated.
Cash Defined - For the purpose of this statement, cash is defined as currency, coin, and checks received for any program or purpose at Appalachian State University regardless of the source of funding for the program or the collected monies intended use.
Scope of Statement - It should not be assumed that any cash to be collected does not fall under the scope of this policy statement without first contacting the Office of Internal Audits.
RECEIPTING REQUIREMENTS
Receipt Must be Issued - Departments must issue receipts to persons from which money is collected at the time the funds are received. Official three part, pre-numbered, Appalachian State University receipts are obtained from the Cashier's Office in books of 200 receipts per book. The department is responsible for all receipts issued to it.
Receipt Distribution - The receipts are to be used in strict numerical order, copies distributed in the following order:
- The original or first copy of the receipt is given to the payer.
- The second copy of the receipt should be maintained in numerical order and turned in to the Cashier's Office with the funds collected.
- The third copy of the receipt is maintained in numerical order in the receipt book in the department until all receipts are used.
When all receipts in a book have been used, the book should then be returned to the Cashier's Office and exchanged for a new book. Void Receipts - In the event a receipt must be voided, all three (3) copies are to be retained in the receipt book. DO NOT DESTROY ANY PORTION OF A VOIDED RECEIPT .
RECEIPT EXCEPTIONS
Use of Cash Registers - Where the volume of sales justifies their use, cash registers shall be used recording tapes listing the amount of each sale. A sales tape produced by the cash register must be given to the customer. When cash registers are used, procedures for their use should be obtained from the Cashier's Office.
Class/ Organization Form - For one-time collection of receipts for a class or organization, the Organization Class/Organization Receipt Form may be used (see Cashier Appendix 4 ).This receipt form is only available through the Cashiers Office, 262-2113. Refer to Cashier Procedure Statement 1 for instructions.
Sale of Admission Tickets - Receipts are not required for funds received from the sale of admission tickets that are either pre-numbered or show the section, row and seat for which they were sold. However, cash reports must be prepared and deposits made daily. After the event, a final cash report and ticket inventory reconciliation should be prepared.
DEPOSITS
24 Hour Limitation - All cash collected in a department must be deposited with the Appalachian State University Cashier within twenty-four (24) hours of its receipt or not later than the following working day. CASH SHOULD NOT BE ACCUMULATED FROM ANY SOURCE.
EXCEPTION TO 24 HOUR DEPOSIT RULE
Any department using official three part, pre-numbered Cashier receipts and signing a Cashier RECEIPT BOOK AGREEMENT must make a deposit with the Cashier's Office a minimum of once each calendar week. More frequent deposits, daily if necessary, must be made at any time cumulative receipts exceed $250.00.
If a department fails to comply with the conditions specified in the RECEIPTS BOOK AGREEMENT, the Appalachian State University Cashier's Office must correspond in writing with the person signing for the receipt book stating the violation and warning that their receipt book and receipting privileges may be taken.
At the second violation of the conditions specified in the Receipt Book Agreement, the Cashier's Office must write the person stating this is their second violation this fiscal year and that the receipt book and ability to receipt funds will be taken if there is another violation. A copy of this correspondence must be sent to the Office of Internal Audits, the department head, dean, vice chancellor, and Controller.
At the third violation of the conditions specified in the RECEIPT BOOK AGREEMENT, the receipt book will be kept by the Cashier's Office and a letter will be sent to the person informing them the receipt book was kept due to non-compliance with cash collection procedures.
They should also be told their vice chancellor must request another receipt book from the Cashier's Office for their use. Copies of this letter should be distributed to the Office of Internal Audits, the department head, dean, vice chancellor, and Controller. Receipt books should not be given to the person or any other person with the program or department until a memorandum from the vice chancellor has been received in justification of the person and the department being allowed to continue to collect funds.
The following policies should be observed in the preparation of deposits:
- All checks must be endorsed with the receiving department's name and Appalachian State University. The following example for an endorsement stamp has been approved:
FOR DEPOSIT ONLY
NORTH CAROLINA STATE TREASURER
BY APPALACHIAN STATE UNIVERSITY
2073083000434-800004
Change Fund - If a change fund has been authorized for the department, it must be entirely in currency and coin after a deposit is made.
Deposit Information - A statement with the following information must also accompany the deposit:
- The budget code(s) to which funds are to be deposited, and the amounts applicable to each.
- The amount of the total deposit.
- A note of explanation if the deposit is not in balance with the total of the receipts covered.
Cash Over or Short - It is the department's responsibility to insure that the total of the receipts equal the actual dollar amount collected and deposited with the Cashier, or to document any overage or shortage. Cash overages must be deposited in the Cashier's Office; notations pertaining to cash over or short must be included with the deposit when it is delivered to the Cashier.
Validated Receipt - The University Cashier is required to complete and validate a two part Appalachian State University receipt reflecting the following information:
- Name of the department making the deposit.
- Budget codes to be credited with deposit.
- Amounts applicable to each budget code.
- Total amount of the deposit.
The Cashier will give the person making the deposit the original copy of the validated receipt which is attached to the last receipt that is covered by the validated receipt or to the daily cash report if receipt forms are used. The copy of the validated receipt form is kept by the University Cashier and attached to the applicable receipt forms taken from the deposited receipt book. The original validated receipt is the department's only documentation for deposits made. SECURITY COURIER SERVICE
Offices or departments which have daily receipts can arrange for courier service from the Office of Public Safety to pickup the deposit daily, take it to the Cashier's Office for deposit, and return the money bag and validated cashier receipt afterwards. The following conditions are necessary in order to obtain this service:
Necessary Conditions
- Department must make a daily deposit
- Department must complete deposit in agreement with the guidelines of this policy statement.
- Deposit must be secured in a locked money bag for transportation.
- Cashier must be supplied with a key to the money bag.
- A written request for the courier service must be submitted to the Director of Public Safety.
Additional Information - If questions arise regarding policies and procedures on cash collections, please contact the Office of Internal Audits prior to any action.
Policy 3 - Storage and Safeguarding of Funds
GUIDELINES FOR SAFE STORAGE
Department Responsibility - Departments are responsible for making sure that funds are kept safe. The following guidelines should be followed when storing funds:
- Currency, coin, and checks must be stored overnight in a safe or vault.
- Safes and vaults should not be left unlocked or in a "set" position when unattended.
- Do not leave money in files, desks, or cabinets; these can be opened even though they are locked.
- Never leave money in a cash register overnight.
COLLECTIONS OUTSIDE REGULAR WORKING HOURS
Use of Bank Night Depository - If your department collects money outside the regular working hours and does not have access to a safe or vault, arrangements can be made to store the money overnight in the night depository at the First Union Bank on campus located in the University Bookstore building. The money should be picked up at the bank the following workday and deposited with the University Cashier.
Conditions for Use - In order to use the bank night depository, the following conditions must be met:
- A key to the night depository must be obtained from the bank's head teller.
- Money must be secured in a locked money bag.
- Locked bag should be picked up the following workday and the night depository key returned to the head teller.
Policy 4 - Imprest Change Fund
Definition - An imprest change fund is a fixed sum of money used for making change in a cash receiving function. This fund is not to be confused with the Petty Disbursing Fund. The Petty Disbursing Fund is used to make small item purchases. For further information see Purchasing, Policy 11 - Purchases Through Petty Disbursing Funds .
Necessary Memorandum - An imprest change fund may be established by request of the Controller. The request should be made by memorandum to the Controller with a copy going to the Director of the Office of Internal Audits stating the following:
After approval by the Controller a check will be drawn payable to Imprest Cash and the custodian of the fund and charged to the expenditure line item, Imprest Cash Fund. The check will be cashed and the proceeds placed in an appropriate container for safekeeping and use. The guideline for safe storage of funds must be followed as outlined in the preceding Cashier, Policy Statement 3 .
Fiscal Control - In a cash receiving operation, receipts should be stored with the fund during the business day. At the end of the day, the receipts should be removed from the container and deposited with the University Cashier or the appropriate bank for activities having bank accounts. The amount remaining in the container should be the full amount of the fund and be comprised entirely of coin and currency. When making deposits, the amount of the Imprest Change Fund must remain in the department, only the money collected will be deposited.
Coin and currency cannot be withheld from receipts to be used as a change fund; total receipts must be deposited daily.
If it is determined that the Imprest Change Fund is no longer needed, the funds must be deposited to the original budget code from which it was written.
Policy 5 - Collection of Accounts Receivable
Justification - Funds to support the operation of Appalachian State University are derived from two sources, State appropriations and revenue generated primarily from student fees. State policy requires that all projected revenue be realized and spent prior to requesting the allocation of appropriations. Any deferment in the collection of fees at the appointed time, the collection of accounts receivable, or the collection for personal checks returned due to insufficient funds becomes increasingly significant in the fiscal management of the University.
NON-ENROLLED STUDENT ACCOUNTS RECEIVABLE
Students who have left Appalachian State University and have outstanding balances on the Student Accounts Receivable account, are mailed statements for two consecutive months. If there is no response to the statements, a follow-up letter is sent. If there is no response and the account is over $50.00, it is referred to the State Attorney General. After the Attorney General's Office has exhausted collection efforts, the remaining accounts will be referred to a State contracted collection agency.
After the Cashier's Office has exhausted all collection efforts, those accounts of $49.99 or less that are at least two years old with no activity, are submitted to the Vice Chancellor for Business Affairs for permission to write off.
Any time the student has an unpaid balance on his or her account, the policy -- as set forth in the State Budget Manual 5.10 concerning the holding of grades, transcript of credits, or diploma -- is followed.
STUDENT REGISTRATION AND ACCOUNTS RECEIVABLE
Payment of Tuition and Fees - Tuition and fees are charged by the semester and are due and payable in advance at the beginning of each semester in accordance with the payment instructions issued in the "Schedule of Classes" prior to each semester. Before taking final examinations at the close of each semester, a student is expected to settle all accounts with the University Cashier. A student may not register for a new semester until all charges have been paid or other arrangements have been made.
A student cannot receive a degree, certificate, or transcript of credits until all accounts except current ones, and loans have been paid.
Registration Alternatives - Students are expected to pay fees in full by the dates announced in the "Schedule of Classes" registration manual. In situations listed below, the University Student Financial Aid Office may consider deferring payment of current term fees for a short period of time. The University will not consider deferring payment of previous term balances under any circumstances. In the registration process, three (3) alternatives may exist regarding the payment of appropriate fees:
- The student remits all fees in accordance with established procedures, and the account is cleared.
- The student obtains an authorized deferment of fees for the current term. Deferments may be granted by the Director of Student Financial Aid or the Director of Student Accounts for the following reasons:
Financial Aid in Progress - Students who are qualified to receive financial aid and have completed all current requirements of application through the University Financial Aid Office may receive a deferment. The amount deferred will not exceed the amount a student is eligible to receive in the current semester.
Payment by Trust Funds - Students who must submit proof of registration to a Trust Fund agent for payment may be considered for deferment if they present written instructions to the Financial Aid Office from the Trust Fund which outline the billing procedure and other terms necessary to complete payment to the University.
Veterans - Students who are eligible and have completed an application for veteran's benefits (GI Bill, State VA, VEAP) may be deferred based upon substantiated need.
International Students - The International Student Advisor must submit a written statement to the Director of Student Accounts explaining the method of payment before deferment can be given.
The University does not have the financial resources or the authority to defer payment of fees for any reason other than those listed above. If problems concerning fees are anticipated, personal financial arrangements should be made well in advance of the date the fees are due.
Failure to Follow Registration Procedures - If the student fails to clear the financial obligation and attends classes, he/she will be identified after the end of the registration period through a computer-produced discrepancy list. This list is created by matching the financial registration records with the academic records and by reviewing a list of "Returned Checks" to identify checks used in payment of tuition. Once a student is identified, his/her account is changed for the classes taken. Collection efforts will then be made.
Returned Checks - In the case of a returned check, a certified letter is sent to the signor of the check at the address on the check and a notice is sent by first-class mail to the student's University post office box. A $25.00 returned check service charge applies. If a student has a returned check that was for tuition, fees, room, and board, he/she will also be charged the $40.00 late payment fee in addition to the $25.00 returned check service charge. The student's account is flagged so that he/she cannot register, obtain grades, or obtain transcripts until the check and fees are paid. At times, A.S.U. Police is called upon to help locate students and resolve these issues. (By law, the signor of the check must be given fifteen (15) days to pay before legal action may be initiated.)
Non Payment - If the term billed has not yet begun and payment is not received by the due date, the student's class schedule will be deleted. If the term has begun, the student will be sent a reminder bill. If the student fails to pay by the deadline, his/her account will be subject to a late payment fee. In addition, the student will not be able to register for classes, obtain grades, or obtain transcripts until the balance is paid.
Late Fees -Enrolled students are billed numerous times throughout the semester. If they fail to pay tuition, fees, room, and board by the billing due date, a $40.00 late payment fee will be applies to their account. If students with deferments do not pay by the deferment deadline, their accounts will also be charged the $40.00 fee.
FORMAL WITHDRAWAL AND REFUNDS ON ACCOUNTS RECEIVABLE
The term refund should be understood to mean either a) the repayment of money received by the University for tuition and fees, or b) a reduction of charges if tuition and fees have not yet been paid.
Reduction of Class Schedule
- If students reduce their schedules (drop courses) during the first five days of classes (during the "Drop-Add" period), 100% of the difference in tuition and fees between the original and revised schedules will be credited to their accounts.
- Students who reduce their schedules (drop courses) after the first five days of classes will not be eligible for a refund.
Withdrawal from the University
If a student formally withdraws from the University (discontinues all classes), a refund will be made in accordance with the following schedule:
- On/before the first day of classes: 100% of tuition fees, and housing (exclude advance tuition and housing deposits, if applicable) will be refunded.
- After the first day of classes: the percentage of tuition, fees, and housing (excluding advance tuition and housing deposits, if applicable) will be refunded based on the date of notification in the Registrar's Office. Please refer to the "Schedule of Classes" for a detailed refund percentage chart.
Withdrawal at any time during the academic term will entitle the student to a refund of any unused funds on their meal account.
Academic Ineligibility
Students who have prepaid and are later determined to be academically ineligible will be due a full refund.
Disciplinary Ineligibility
Students who are suspended for disciplinary reasons are not eligible for a refund. Students evicted from University residence facilities will not be eligible for a refund of the unused portion of room and board.
Unofficial Withdrawals
Students who do not officially notify the Registrar's Office of their withdrawal will not be eligible for a refund.
FACULTY AND STAFF ACCOUNTS RECEIVABLE
Source - Since the computerization of the University's accounts receivable, records have been maintained on University faculty and staff as well as students. Balances on these faculty and staff accounts are generated from traffic fines, tuition charges, Learning Resource charges, returned checks, etc.
Collections - A notice of an outstanding accounts receivable balance is mailed to the employee's permanent address. After receiving a notice of charges due the University, an employee should make every effort possible to pay these obligations. If payment is not received in the Cashier's Office by the 15th of the second month, then a payroll deduction is made for the outstanding balance.
Authority for Payroll Deduction - Authority for such action is given to the University by the North Carolina State Budget Manual No. 5.8, V. This regulation lists the purposes for which payroll deduction may be made, one of which is "Any amount due the State from any employee."
Any questions related to the collection of University accounts receivable should be directed to the Director of Student Accounts at 262-6420.
Policy 6 - Collection of Checks Returned for Insufficient Funds
Issuing a "worthless check" is a misdemeanor and is punishable under North Carolina General Statute 14-107 . To prevent the inconvenience and expense of legal action as outlined in this policy, the maker of the check should make every effort to redeem it and pay the service charge.
ASU does not cash personal checks due to the fact that the State Auditor and State Controller consider this to be an internal control weakness. This process is also potentially a time consuming and expensive operation for the University. Personal checks issued to the University for payment of services and goods that are returned by the bank for insufficient funds are received by the Cashier's Office. The following policy has been established to insure that these funds due the University are collected.
RETURNED CHECKS RECEIVED THROUGH REGISTRATION
When a check received by the University in payment of tuition and fees during a regular registration period is returned due to insufficient funds, the situation will be handled in the same manner as when a student fails to pay tuition and fees but attends classes. University policies concerning this situation are described in CSH Policy 5 under "Student Registration and Accounts Receivable."
RETURNED CHECKS RECEIVED FOR UNIVERSITY SERVICES AND PAYMENT ON ACCOUNTS RECEIVABLE
When a check of this type is returned to the University due to insufficient funds, the following steps will be taken to insure that the check is redeemed:
Notification and Redeposit - A standard letter is sent to the person w hose check is returned. This letter informs the person of the returned check and requests that the bank account be in order to prevent the return of the check a second time. The check is then redeposited.
Service Charge Added - If the check is returned a second time, the amount of the check plus a $25.00 service charge will be placed on the University's accounts receivable for students, faculty, and staff. If the check has been given by someone other than a student, faculty, or staff, the check is returned to the area that originally took it. It is then up to the individual area to insure that the funds are collected.
Second Notification - When the check is returned the second time, the check is transmitted to the Accounts Receivable Clerk for Student Accounts on the same day it is received by the Consolidated Account clerk. A second letter is then sent to the person whose check was returned. If checks given by the same person are returned frequently due to insufficient funds, the second notice to the person may be omitted, and the third step taken instead.
Contact by Office of Public Safety - If there is no response to the second letter by the established deadline and if the individual check or the cumulative total of more than one check is $5.00 or more, a letter is hand carried to the Office of Public Safety. This letter establishes a deadline, no later than 4:00 p.m. two workdays after the day the letter is delivered to the Office of Public Safety, by which the check and service charge must be paid by cash, cashier's check, certified check, or credit card to prevent a warrant being issued.
Therefore, the Office of Public Safety will contact the person immediately either at the residence address or in an academic class. At the time the Office of Public Safety makes the personal contact, the Public Safety Officer will require the person to sign and date the acknowledgment on the letter that verifies the person has been informed of the payment deadline and the procedure if payment is not received.
Warrant Issued - If payment is not received in the Cashier's Office by the established deadline, the check is hand delivered to the Office of Public Safety for the issuing of a warrant.
Civil Action - After the warrant has been issued, any settlement of the account must be made through the State Judicial System; payment can no longer be made to the University Cashier by the person responsible for the returned check.
On those occasions where three (3) returned checks have been written in any combination to any department at Appalachian State University, the individual responsible will no longer be allowed to pay the University by personal check. The Code (#3) will be entered in the returned check counter field on SIS to identify those individuals.
The Code (#4) will be entered in the returned check counter field on SIS when there have been problems collecting monies owed to the University by the student. Some of these problems are write-offs, accounts sent to collection agencies, warrants being issued on returned checks, etc. These individuals also will not be allowed to satisfy financial obligations with Appalachian State University by personal check.
In both circumstances, the individual will be required to pay by cash, travelers checks, money orders, credit cards, or by any type of certified funds.
Further Information - Any questions related to this policy should be directed to the Director of Student Accounts at 262-6420.
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