Scott County Family YMCA Policy

Transcription

1 Title: Cash Handling & Procedure Effective Date 08/01/2015 Section: Financial Operations Supersedes: Cash Handling Procedures, revised 03/05/2013 PURPOSE: The purpose of this policy is to establish strong internal controls for cash collection in order to prevent mishandling of funds, safeguard against loss and to protect employees from inappropriate allegations of mishandling funds by defining his/her responsibilities in the cash handling process. POLICY: Appropriate procedures for handling cash transactions have been implemented and are to be followed by employees authorized to perform such transactions. Cash is defined by any transaction that includes collection of funds in the one of the following forms: coin, currency, checks, money orders, credit cards, traveler s checks, account receivable charges, electronic funds transfers and all cash equivalents (gift cards, etc). Cash handling procedures apply to all SCFY employees, but specifically include staff in the following positions: Financial Services staff, Branch Executives, Program Directors, and Member Services staff. PROCEDURES: General Safe Cash Handling practices During business hours, secure cash to restrict access. At other times, store all cash in a safe. Each Member Services staff should be assigned their own secure drawer. Safe combinations are changed regularly. Member Services staff should not share safe combinations with any other staff. Only supervisors are authorized to issue to the safe combination to staff. Written safe combinations are stored in a secure limited access location. Coins/Currency receipts equal to or greater than $500, should be pulled from the cash drawer and dropped in safe via empty cash bag and special drop receipt. These special drops are noted on your End of Shift paperwork for reconciliation purposes. Receipt and Reconciliation of Cash collected Cash received in person The cash received must be entered into accounting software system, CCC, and a receipt given to the customer. If CCC is not available, then pre-numbered receipts must be utilized and a copy of the receipt given to the customer. Coins/Currency Processing The Y only accepts US currency, no foreign currency is accepted. Check Processing All checks must be stamped immediately with the endorsement payable to the Scott County Family Y. Check cashing in not allowed and no change back is provided for checks written over the amount due. Change is only given when coins/currency is received. Third Party Check - Due to the significant risk of non-payment associated with accepting checks drawn on a 2 nd party bank account, the Y does not accept these checks. Checks are reviewed for the following: o Date not postdated (future date) o Payee should be Scott County Family Y or SCFY o Amount numeric must agree with written line o Signature checks must be signed by account holder o Full name and address must be on the front of the check o Amount paid does not exceed the amount due Credit Card Processing Telephone payments

2 o Credit card payments are not to be taken over the phone. Customers should be directed to utilize our on-line process on our website. o Child care credit card payments can be made using our website as well. If they are having problems and/or are insistent on phone payment, please direct them to call Child Care Administrative Service Director, who can be reached at o If member is insistent on phone payment for annual membership renewal please direct them to our Membership Data Specialist at Credit Card Information o Under no circumstances will credit card numbers received via be processed. The recipient of the credit card number will respond to the sender advising that the transaction cannot be processed and delete the credit card number in the response. Response: Thank you for your recent communication regarding payment for. For your protection, we cannot accept card information via . is an insecure means of transmitting information and you should never send your credit card number or other sensitive personal information. Please complete your transaction by visiting our website and if you have problems please contact {branch coordinator}. Card Present Transactions (Point of Sale): o Verify customer identity. Verification of identity is to protect both parties in the transaction. If identity doesn t match do not complete the transaction and notify your supervisor. If customer is an existing member with us verify ID with member photo on file with association in CCC. If the customer is not a member, a picture ID is required to complete the transaction. o Provide receipt of the transaction to the customer. o Credit card information is not to be retained after the transaction, no credit card numbers are to be kept in electronic or hard copy form. o If there is a business need to retain card information for reoccurring transactions, this will be handled exclusively by the Corporate Accounting Department. o Credit card information is not written down. See Addendum A for exception approval process. o Employees are not to touch and/or take possession of customer s credit card at any time. o Credit card information is only entered into the credit card keypad, NOT the regular computer keyboard. Money Orders Processing Money orders are processed the same as checks. o Ensure the money order is less than two years old. o Verify secure features, such as watermarks and security strips. Travelers Check Processing Travelers checks are processed the same as checks. o Traveler s checks already bear the purchaser s signature and must be countersigned in the cashier s presence. Credit card/bank information sent/received electronically Credit card information and/or bank information will not be sent or received electronically, including but not limited to , fax, and/or text messages. Cash Received Through the mail The mail is opened and all checks received must be stamped immediately with the endorsement payable to the Scott County Family Y. Checks should be entered into CCC immediately upon receipt, except as noted below.

3 Checks that are forwarded to the Corporate office for processing should be placed in a cash bag and dropped in the branch safe to be forwarded to the Corporate office via courier locked bags the next business day (i.e. Annual Campaign donations forwarded to the Fund Development office or checks forwarded to Corporate Accounting Department.) Member Services staff procedures Beginning of the shift checklist Count the amount of currency and coin in the cash bag, noting the amount for use in balancing cash at the end of shift. Store cash in a secure cash drawer During the shift checklist Provide the customer with one of the following types of receipts with each transaction: CCC receipt Handwritten receipt issued from a pre-numbered receipt book, when software system is not functioning or staff is not able to enter into CCC. End of Shift Information Member Services staff are responsible for counting cash. Balance cash collected to the CCC End of Shift report. The total cash received during the shift must equal the amount appearing on the CCC end of shift report. The total checks received during the shift must equal the amount appearing on the CCC end of shift report. The total credit card receipts (signed copies) must equal the amount appearing on the CCC end of shift report. If the cash, checks, and/or credit card receipts collected does not agree to the CCC end of shift total, follow the Cash Overage/Shortage Procedures. After counting and balancing cash, the CCC end of shift and cash, checks, and credit card receipts should be placed in the Welcome Center safe. Secure Membership forms During business hours, completed membership forms will stored in a location off of the desk (such as a drawer, file cabinet, etc.) and out of site of others. After business hours, completed membership forms will stored in a secure location, such as a safe or locked file drawer. Cash Overage/Shortage Procedures Verify work performed Re-add all figures on your End of Shift information using an adding machine. Re-count money, making sure that no bills or checks are stuck under the cash drawer, all denominations are together, and no bills are commingled in the wrong slot (i.e., $10 bill in $1 slot, etc.). Check the Welcome Center area (cash drawer, trash cans, under the counter, the floor area) to see if a check or cash or credit card receipt was dropped or misplaced. Reprint lost credit card receipts from software system. If the shortage still has not been reconciled: Notify your supervisor immediately upon substantiating the shortage. Complete the Overage/Shortage Report form (sample attached) and attach to End of Shift report.

4 Fraud Prevention All employees who handle cash are advised to NOT accept checks which have been defaced by alterations, i.e. amount crossed out/changed, date changed, payee changed, smudging, etc., instead request another check. All employees must be aware of their responsibilities in detecting security incidents to facilitate the incident response plan and procedures. All employees have the responsibility to assist in incident response procedures within their particular areas of responsibility. Reporting an incident Contact the CFO to report any suspected or actual incidents. No one should communicate with anyone outside of their supervisor(s) or the CFO about any details or generalities surrounding any suspected or actual incident. All communications with law enforcement or the public will be coordinated by the CFO. Document on an incident report any information you know while waiting for the CFO to respond to the incident. If known, this must include date, time, and the nature of the incident. Any information you can provide will aid in responding in an appropriate manner. RESPONSIBILITY: Employees handling cash are expected to be careful and accurate and to settle their funds each day without overages or shortages. While differences may occur from time-to-time through honest mistakes, each situation will be reviewed and the appropriate action taken. The following situations will be addressed and corrective action performed, up to and including termination of employment with SCFY. These situations are merely examples and are by no means all inclusive. Repeated errors in cash collection (i.e. taking defaced checks, improper handling of credit card information, etc.) Improperly securing cash during shift or end of day. Improper storage of membership forms. Repeated overage or shortages Not following proper procedures Failure to report fraudulent incidents Supervisors are responsible for counseling employees promptly when their conduct or behavior is inconsistent with the intent of this policy. I acknowledge that I have read, understand and will abide by the policy and procedures outlined above. Printed Employee Name Signed Employee Name Date

5 Sample Scott County Family Y Cash Overage/Shortage Report Branch: Date: Employee Name: Overage Amount: Explanation: Shortage Amount: Explanation (indicate if theft or embezzlement suspected): Corrective Action: Employee s Signature: Supervisor s Signature: Corporate office use Resolution:_

6 ADDENDUM A: Approval to write down credit card information and proper disposal of this information Approval Process: Only staff person with private office areas will be considered for authorization to write down credit card information. Complete the Request for Authorization section of Addendum A, include a detailed statement as to the business need to write down credit card information. Submit form to CFO for approval. CFO will you, their response to your request. Process after approval: Written credit card information will be disposed of securely following the steps outlined below: Mark out the information with a black ink pen Cover information with a black permanent marker Shred document Placed shredded document in shred bin provided at branch REQUEST FOR AUTHORIZATION TO WRITE OFF CREDIT CARD INFORMATION: PLEASE PRINT Staff Member Name: Branch: Detailed Explanation of Business Need for this authorization (attach additional pages if necessary): Staff Signature: Date: CFO Signature of Approval: Date: