91社区

The Bursar鈥檚 Office is the authorized agent to control, account for, and safeguard cash at the 91社区. Under no circumstance is an employee to accept money in the name of the University without properly recording the income with an official University receipt. Departments that have been approved to accept money are required to issue receipts and make daily deposits as outlined below.

Money

Money includes currency, coin, checks, money orders, or cashier checks. University assets must be safeguarded by ensuring a system of checks and balances, securely storing the money, and documenting sales. It is expected that departments meet the following requirements.

1. All transactions must be recorded and documented with an official University receipt. A deposit ticket or form must be completed that subtotals the currency, coins, and credit cards. Sales that include tax or distribute the sales among different Fund, Org, and Account (FOA) should be itemized and reflected in the amounts on the deposit ticket or form. The individual responsible for completing the deposit should initial or sign the form.
2. All monies should be deposited with the Bursar鈥檚 Office as follows:
   1. Departments that have a safe may store their deposit until the next business day if deposit is completed after hours.
   2. Departments that do not have a safe or approved locked storage must deliver the deposit the same business day. If outside the normal operating hours of the Bursar鈥檚 Office, the department should place the deposit with the required documentation in the night cashbox located in the hallway of the lower level of the Orr Center.
   3. Departments are not to send deposits of cash or checks through campus mail.
3. All checks should be made payment to the 91社区 for the amount of the sale. Endorse check immediately with an endorsement stamp. Postdated checks are not acceptable.
4. All monies will be kept in a lockable metal box or safe authorized by the Bursar鈥檚 Office. Access to cash should be limited to the authorized employees. Combinations or keys to safes should be limited as well and changed as necessary, and whenever a person with the combination or key is terminated. Individuals with access to the combinations or keys to safes should maintain confidentiality.
   1. Authorized departments may keep a small amount of monies. All other monies should be deposited in accordance with the policy and procedure.
   2. Retained monies should be stored in a secure, locked location and available for audit without notice during normal business hours.
5. Departments should establish a separation of duties. The individual responsible for collecting cash should be separate from the person preparing deposits and reconciling. If the department does not have adequate staffing to separate the functions, the department, in collaboration with the Bursar鈥檚 Office, will develop compensating controls to ensure safeguards are in place to protect the employee and the University.
6. Departments must complete the Daily Deposit Qualtrics form that is emailed to the department supervisor or authorized employee at 7:00 am each business day. The department must indicate if they do or do not have a deposit from the prior business day.

Point of Sales Transactions

Approved departments with credit card terminals are considered point of sales (POS). Credit card terminals and cardholder data must be handled the same as monies. It is expected that departments meet the following requirements.

1. All terminals must be purchased by the Bursar鈥檚 Office. Terminals must be encrypted and compatible with TouchNet. The Bursar鈥檚 Office will install the terminal for the department.
2. All vendor supplied defaults must be changed and/or removed to disable unnecessary default accounts. This applies to all default passwords including the software and POS terminal. Strong passwords must be utilized.
3. Safely store credit card terminals in a locked cabinet, storage unit, or office. Departments must perform monthly inspections of terminals and retain for annual audit (see monthly terminal checklist). The Bursar鈥檚 Office will complete annual audits.
4. Access to the credit card terminal should be limited to the authorized employees. Authorized employees must have individual logins and passwords. Departments must notify the Bursar鈥檚 Office when there is change of employment.
5. Cardholder data cannot be stored on paper, server, or networks and departments must follow IT PCI Compliance data retention, storage, and destruction.
6. Credit card receipts should be included in the department鈥檚 daily deposit. A copy of each individual transaction and voids should be added and clipped together. A deposit ticket or form must be completed that subtotals the credit cards and any other sales. Sales that include tax or distribute the sales among different Fund, Org, and Account (FOA) should be itemized and reflected in the amounts on the deposit ticket or form. The individual responsible for completing the deposit should initial or sign the form.
7. Departments should establish a separation of duties. The individual responsible for processing credit cards should be separate from the person preparing deposits and reconciling. If the department does not have adequate staffing to separate the functions, the department, in collaboration with the Bursar鈥檚 Office, will develop compensating controls to ensure safeguards are in place to protect the employee and the University.
8. Departments must complete the Daily Deposit Qualtrics form that is emailed to the department supervisor or authorized employee at 7:00 am each business day. The department must indicate if they do or do not have a deposit from the prior business day.

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Type of Credit Card Transactions

In Person

1. Credit cards should not be handled by a University employee. Terminals should be available for the cardholder to insert card without exchanging hands. If the terminal is not available for the cardholder to insert the card, the University employee should return the card to the cardholder immediately.
2. With all transactions, a receipt must be given to the cardholder and another for deposit records.
3. Refunds to the card are prohibited. In the event a transaction must be voided, the supervisor must process the void.

Card not present transactions

1. Credit card payments over the phone should be limited to mitigating circumstances. Reasons to take a card payment over the phone would be if there was not an opportunity for the cardholder to pay online, or there are technical issues.
2. University employees taking credit card payments over the phone will ensure the data remains secure throughout the transaction. The most secure way to take payment over the phone is to enter the data while the cardholder is on the phone. The employee should be away from other customers, students, or employees to maintain privacy. If credit card information is written, the employee must destroy the document immediately after processing. See IT鈥檚 PCI compliance policy for data retention, storage, and destruction.
3. With all transactions, a receipt must be given to the cardholder and another for deposit records.
4. Refunds to the card are prohibited. In the event a transaction must be voided, the supervisor must process the void.

Online Store (MarketPlace) Transactions

MarketPlace online stores maybe a TouchNet Ready Partner, which is a software that integrates with TouchNet to accept payment, or for products (goods or services) sold online. To request an online store, the department must follow the MarketPlace Policy and Procedure. Departments with online stores must document sales and monitor sales through TouchNet MarketPlace. It is expected that departments meet one of the following requirements.

1. Department will review daily MarketPlace report of sales. A deposit ticket or form must be completed that subtotals the MarketPlace sales. Sales that include tax or distribute the sales among different Fund, Org, and Account (FOA) should be itemized and reflected in the amounts on the deposit ticket or form. The individual responsible for completing the deposit should initial or sign the form; or
2. Department will provide the Bursar鈥檚 Office the single FOAP for all sales within the MarketPlace Store.
3. Access to the TouchNet should be limited to the authorized employees. Authorized employees must have individual logins and passwords. Departments must notify the Bursar鈥檚 Office when there is change of employment.
4. Departments must complete the Daily Deposit Qualtrics form that is emailed to the department supervisor or authorized employee at 7:00 am each business day. The department must indicate if they do or do not have a deposit from the prior business day.

Check payments (electronic or paper) issued to the 91社区 that are returned for insufficient funds or any reason will result in a $15 return check fee assessed to the account for the first check and $25 for the second check. The student鈥檚 account will also be charged the amount of the payment. The Bursar鈥檚 Office will notify the student in writing immediately giving 10 business days to resolve the payment. In addition, the student will have a restriction placed on the checking account number and hold placed on their student account. This hold will prevent the student from paying online with an eCheck, registering for classes, or accessing an official transcript. In the event a returned payment reoccurs with a student, the student account will have a permanent restriction and may only pay with cash, money order, cashier check, debit, or credit card.