r · pdf filein addition, the tisd manual, section 5.2.a.3. discusses using the deposit report...

Revised February 2014 1 of 10

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Be sure to include how much is cash / how much is in checks.

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Include the account to be credited.

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Be sure to have teacher/sponsor sign the receipt, too. This validates his/her agreement with the amount.

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Cash Receipts from A - Z

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Be sure to write the bank bag number.

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Receipt Documentation packet should include: 1) Copy of bank deposit slip 2) Your pink receipt book copy 3) Any receipt copies turned in by sponsors (from their receipt books) 4) Any check stubs, correspondence, or other documentation

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NOTE: For checks received in the mail, best practice is for someone other than the secretary/accountant to open them and receipt them. One receipt with the total for all checks received on that date would be written with "Received from: Mail" on the receipt. A calculator tape accompanying the checks (when more than one) would be attached, and the number of checks received would be written on the FOR line of the receipt - example - "10 checks", total "$100". This would be given to the secretary/accountant to deposit in the bank. Notations for bank bag number & TEAMS Cash Receipt number(s) would be written on that receipt book.

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First, write a receipt using a 3 part, pre-numbered receipt book. (See exception for under $5 - Employee Forms - Receipt Log for $5 and Under)


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Note that the memo line identifies what the check is for. This is particularly helpful if a check is returned for non-payment. Ask your sponsors to fill that in if the check writer does not.

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Checks should be endorsed for deposit as soon as possible after receipt.

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Immediately endorse any checks received. If not immediately, endorse them as soon as possible.


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When you have multiple receipts going into the same bag, just leave a tape that totals all the receipts, noting the bag number for this group. This total should agree with your bank deposit(s) and the Bank Pick-Up Log Sheet.


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Notice that the receipt number and the account number are both on the deposit slip.

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The white and pink copies go with the deposit to the bank. Make a copy for your receipt documentation. The yellow copy stays permanently in the deposit book. You can buy 4 part deposit slips - that would give you a blue copy for your receipt documentation & you wouldn't have to make a copy of the deposit slip.

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Complete the Log Sheet when your deposit is ready. List the bag number, the date, the total amount in your locked bag, and sign. If you transfer your bag to the Cafeteria Manager, he/she will acknowledge receipt of your bag by dating and signing the log. The TISD police officer will sign & date the log when he/she picks up the bag to deliver to the bank that day. Be sure to track your bags - know where they are.


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After you’ve agreed the cash receipt package to the TEAMS Cash Receipt report, write the Cash Deposit# (Bank Deposit Control Number) from that report on your Cash Receipt book.

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Attach your receipt documentation to the Deposit Listing report. File in date order, most recent to the front.

The first print screen below shows the results of the Cash Receipt Report available in TEAMS. It has

been sorted by the Posted Date and some columns have been hidden. The second screen shows the

data selected to generate this report. Each campus should create and save one like this for use each

month to ensure that all deposits sent to the bank have been posted in the general ledger.

Bank Deposit Control NumberPosted Cash Receipt Amt Cash Receipt Description Account Number001 - 4032 05/01/2012 372.00 REL Food Service Lab 461.00.5755.00.001.00.350001 - 4031 05/01/2012 1,200.00 REL Cheerleaders Student Activity Account 865.00.2190.00.001.06.000001 - 4035 05/01/2012 755.00 REL Cheerleaders Student Activity Account 865.00.2190.00.001.06.000001 - 4034 05/01/2012 306.00 REL HOSA Student Activity Account 865.00.2190.00.001.94.000001 - 4036 05/01/2012 87.00 REL ID Card 461.00.5755.00.001.00.018001 - 4033 05/01/2012 130.00 REL FFA AG MECH 461.00.5755.00.001.00.380001 - 4030 05/01/2012 838.20 REL Model UN Student Activity Account 865.00.2191.00.001.00.119001 - 4058 05/02/2012 144.00 REL Transcripts 461.00.5755.00.001.00.020001 - 4054 05/02/2012 25.00 REL Orchestra Student Activity Accounts 865.00.2190.00.001.56.000001 - 4055 05/02/2012 198.00 REL FFA AG MECH 461.00.5755.00.001.00.380001 - 4052 05/02/2012 490.00 REL Baseball 461.00.5755.00.001.00.430001 - 4056 05/02/2012 44.55 REL Model UN Student Activity Account 865.00.2191.00.001.00.119001 - 4053 05/02/2012 1,485.00 REL 2012 Yearbook Account 865.00.2191.00.001.00.2124063 05/03/2012 250.00 REL Robotics Team (Amanda Camp) 865.00.2191.00.001.00.1214063 05/03/2012 1,500.00 REL Girls Basketball 461.00.5744.00.001.00.4554063 05/03/2012 1,000.00 REL Cross Country Campus Activity 461.00.5744.00.001.00.4604063 05/03/2012 1,152.50 Gifts & Bequests 461.00.5744.00.001.00.350


Tyler ISD Internal Audit Department

Top 5-Common Cash Control Issues

Listed below are the top five most common cash control issues noted in activity fund audits.

Issue 1: No Cash Receipts Issued

Issue: In reviewing activity funds, it has been noted some campuses do not issue cash receipts.

Criteria: The TISD Activity Fund Policy and Procedure Manual (TISD Manual), Section 4.1.A.,

indicates that “all cash and check collections must be receipted using a…receipt book immediately and in

ink by the person receiving the money.”

Recommendation: Internal Audit recommends that receipts are prepared and issued for all cash and

check collections.

Issue 2: Untimely Deposits

Issue: In reviewing activity funds, it was noted some campuses were making deposits untimely…on a

regular basis.

Criteria: The TISD Manual Section 5.1.A. and B., stipulates that “deposits must be made whenever cash

collections exceed $300 for secondary schools and $100 for elementary schools…even if the cash on

hand does not exceed the maximum allowable, deposits must always be made on Friday.”

Recommendation: Internal Audit recommends that all deposits are made in accordance with the TISD

Manual.

Issue 3: Safeguarding Assets

Issue: In reviewing activity funds, it was noted some campuses left monies, receipt books, and campus

checkbooks unattended in an unlocked drawer, file, or room.

Criteria: Best practices. Monies, receipt books and campus checkbooks should never be left unattended

in an unlocked drawer, file, or room. Best practice would be to lock the monies, receipt books, and

campus checkbooks in a drawer, file, or safe contained in a locked room before leaving unattended.

Access to locked drawers, files, or safes should be limited to essential personnel. Additionally, locks and

combinations should be changed at each change in personnel with access to keys or combinations.

Recommendation: Internal Audit recommends that all monies, receipt books and campus checkbooks be

controlled and safeguarded by storing them in locked drawers, files, or safes in a locked room/office.

Access to locked drawers, files, or safes should be limited to essential personnel. Additionally, locks and

combinations should be changed at each change in personnel with access to keys or combinations.


Issue 4: Monitoring Controls

Issue: Deposits were not being monitored to ensure they made it to the bank safely or deposits were being

posted in CIMS accurately and timely.

Criteria: It is a good idea to write the deposit bag number on the receipt. In addition, the TISD Manual,

Section 5.2.A.3. discusses using the Deposit Report provided by Financial Services to monitor deposit

postings in CIMS.

Recommendation: Internal Audit recommends that bank deposits are monitored to ensure cash receipts

are posted to the CIMS accounting system and deposits are deposited timely and safely in the bank.

Issue 5: Organization and Maintenance of Records

Issue: During reviews, campuses had missing supporting documentation such as receipts, deposit slips,

check copies, and Deposit Reports for multiple audit selections.

Criteria: Best practice. Supporting documentation for all deposits should be retained in a manner that

decreases the likelihood of lost documents and facilitates document accessibility and review.

Recommendation: Internal Audit recommends that supporting documentation for all deposits is retained

in a manner that decreases the likelihood of lost documents and facilitates document accessibility and

review. Permanent deposit slip records and cash receipt records should be maintained in the deposit and

receipt books. Other deposit documentation could be maintained in a file or a three ring binder filing

system with the most recent deposit’s documentation filed in the front of the file or notebook.


Tyler ISD Cash Handling Procedures

DO:

Give Pre-numbered cash receipts

Control the cash receipt book inventory

Use triplicate forms:

1 – for the payer

2. – with the bank deposit record

3. – stays in the book

Match bank deposits to cash receipts

Deposit money as soon as possible

Guard cash & checks

Void and reissue a cash receipt if a correction is needed. Attach the white copy of the voided receipt to the receipt book

DON’T:

Cash checks for anyone out of any cash you take in

NEVER deposit cash into your own personal bank account

Use the cash to make purchases – this leaves no audit trail and has the appearance of impropriety – just not

good business practice

Leave cash & checks where they could be stolen

Change a cash receipt

Write receipts in pencil


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**

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** Exception for amounts $5 and under - use Receipt Log for $5 and Under - available online on Employee Forms page.

r · pdf filein addition, the tisd manual, section 5.2.a.3. discusses using the deposit report...

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