Cash and Treasury Services Policies and Procedures

Policy
Effective: December 1, 2011

Clemson University makes change funds available as an advance to authorized cash handling units for the purpose of making change for currency sales and/or services. The change fund is only to be used for making change in cashiering operations.

Discussion
Cash and Treasury Services must approve departmental change funds and custodians before they can be established. Each department is responsible for designating a custodian that is responsible for the safekeeping of the fund and for its proper usage. Cash and Treasury Services must be notified and approve any time there is a change of custodian.

The change fund must be balanced on a daily basis. Any overages discovered during the balancing process must be deposited with Cash and Treasury Services. Any shortages beyond the control of the custodian will be repaid by the department using available operating funds. Shortages must be fully documented in writing.

The change fund must be reviewed annually.

Certain restrictions as to the use of change funds have been established by the University. Change funds are to be used solely for making change in cashiering operations. The change fund cannot be used for any other purpose, including advances or expenditures. Mishandling of change funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

Procedure
Request and Authorization
Any department wishing to establish a change fund must submit a Request for New Fund Form to Cash and Treasury Services. The fund must first be approved by your business officer. The request should state the reason(s) the fund is required and the amount needed for daily operations. A custodian for the fund must be designated in the written request. 

Custodian Responsibilities  
The custodian of the fund is fully responsible for the safekeeping of the fund and for its proper usage. The custodian must exercise caution in the administration and protection of the fund in his/her possession.  

1. Access to the fund should be limited to the change fund custodian.
2. The fund should be locked in an office safe or file safe or secured in a location that can only be accessed by combination or key. The key should be kept in the custodian’s possession. At no time should the funds be left in unlocked desk drawers or cabinets. Funds should not be retained in desk drawers or standard file cabinets since they are easily accessed with minimal forcing or readily available keys.
3. Change funds must not be commingled with any other funds or used for any purposes other than those listed in this policy document.
4. Any discrepancies in the fund are the responsibility of the custodian and the departmental administration.
5. It is the responsibility of the custodian to follow current University policies and procedures in maintaining the change fund.

Procedure to Change Custodian 
If the fund custodian at any time needs to be changed due to a job transfer, termination of employment at Clemson University or any other reason, it is necessary to transfer the fund to a new custodian with the Change Fund Form. The fund should be counted and reconciled by the current custodian and then turned over to the new custodian. The new custodian should acknowledge receipt of the fund by signing a form documenting the transfer of funds and the accompanying responsibility. The completed form should be sent to Cash and Treasury Services. 

Overages and Shortages
The fund should be reconciled on a weekly basis, and any overages in the fund must be deposited with Cash and Treasury Services. Shortages in the fund beyond the control of the custodian are to be repaid using the department's operating funds. Shortages must be fully documented in writing.

Theft or Loss of Funds
If burglary or theft is suspected, the Clemson University Police Department should be notified immediately after discovery.

To Close a Fund
If a unit ceases to be an authorized cash collection unit, any change funds must be deposited by processing a web deposit in TouchNet to the chart string that was debited when the change fund was established, and a Change Fund Form must be submitted to Cash and Treasury Services.

To Decrease a Fund
If the change fund balance becomes too high for the needs of a department, it is the custodian’s responsibility to decrease the fund, and a Change Fund Form must be submitted to Cash and Treasury Services. The decrease in the fund must be deposited by processing a web deposit in TouchNet, which should contain a description including the fund total, the amount of the reduction and the fund custodian’s name.

Incentive Card Order Process

Policy
Effective: January 1, 2014
Revised: May 14, 2024

1. Overview
   Incentive cards may be used as a tool to meet the business purposes of the University. They can be used to support research study subjects and for awards or prizes to support student activities. As cash-equivalent instruments, incentive cards are governed by internal control requirements and may be subject to tax reporting. They must be distributed in accordance with the guidelines set forth in this policy.
2. Policy General
   Incentive cards must be purchased through buyWay$ from the Blackhawk Network. (Exemptions may be available in situations in which external funding predated this policy or required purchases cannot be accommodated by the Blackhawk Network.) Personal reimbursements and direct purchases outside of the established buyWay$ process are not allowed. Incentive cards must only be requested when disbursement of such funds is expected to occur within 90 days from the time the cards are received. If the project or need to distribute continues beyond that time frame, multiple incentive requests must be made to provide for a reasonable and timely accounting of funds.
   1. Research Subjects: An incentive may be offered to research subjects, provided it was included as part of the grant award and Institutional Review Board (IRB) approval was obtained. This policy is intended to provide guidance as to the appropriate acquisition and distribution of research subject incentives.
   2. Non-Research Subjects: It is also common, based on the specific mission and goals of specific areas of the University, to utilize incentives to encourage or award individuals for participating in certain events. Unlike with research subjects, these incentives are not bound by grant awards and IRB approval. This policy is intended to provide guidance as to the appropriate acquisition and distribution of non-research subject incentives.

III. Allowable Uses and Limits
Incentive cards may only be distributed for the following purposes:

1. Incentive for research subjects in studies approved by the University’s Institutional Review Board (IRB).
2. Prizes, recognition awards or tokens of appreciation for students.
3. Prizes, recognition awards or honorarium for volunteers or visitors.
4. Incentive for employees participating as a volunteer in a research study or event unrelated to their job.

Individual incentive cards should be valued at $100 or less. They cannot be used as a bonus, awards, honoraria or other means of compensation to employees. These payments must be processed through the payroll system. If there is any question about a particular situation, please consult with the Office of Human Resources.

Ensuring proper controls is important in the use of incentive cards, and IRS reporting is critical in compliance with IRS and federal reporting requirements. For any individual that is disbursed $600 or more in a calendar year, the department’s responsible person must follow the steps identified in section E.2 of the Related Procedure to ensure the proper tax treatment is performed by Clemson University.

IV. Internal Controls
Incentive cards must be safeguarded at all times and accounted for as if they were cash. The person accountable has primary responsibility for safekeeping, maintenance and proper usage and for advising faculty, staff or students of proper handling policy and procedure. For grants, the principal investigator (PI) must maintain all records regarding the research subjects.

The following controls are required at a minimum:

1. Custody: The person accountable holds custody over the cards and should always know where they are located. Custody may be transferred temporarily from the person accountable to other departmental personnel for disbursement purposes, but the person accountable still holds primary responsibility for the safekeeping of the cards.
2. Physical Access: Incentive cards must be secured at all times (e.g., in a locked box in a locked cabinet or drawer) with limited access. They must not be taken home for safekeeping.

 V. Lost Cards

1. The person accountable will be held liable for any incentive cards in their possession that are lost or misplaced. Any shortage must be reported immediately to their business officer. The business officer will then notify the Office of Internal Auditing. Depending on the circumstances, punitive action, including loss of ordering privileges, termination and prosecution could result.

VI. Definitions

1. Incentive card: A stored-value or similar instrument issued in lieu of cash or check. For purposes of this policy, “incentive card” includes gift certificates, cash cards, and online e-incentive cards (e-cards).
2. Person accountable: The faculty or staff member in the department disbursing the incentive cards that is responsible for the documentation, internal control and other requirements of this policy. For research purposes, the person accountable is the principal investigator (PI).
3. Research subject: An individual with whom an investigator conducts research and obtains data through intervention or interaction with the individual.

V. Contact Information

Safekeeping of Cards: Cash and Treasury Services
Order Cards and Tax Reporting: Procurement and Business ServicesResearch Reporting: Internal Review Board

Procedure

A. General Procedure
Incentive cards must be purchased through buyWay$ from the Blackhawk Network. (Exemptions may be available in situations in which external funding predated this policy or required purchases cannot be accommodated by the Blackhawk Network.)

Advanced planning by the person accountable is necessary to ensure that no more than a 90-day card supply should be ordered. If the project continues beyond that time frame, multiple incentive requests must be made to provide for a reasonable and timely accounting of funds. Accountability for the cards will be required by providing a list of recipients or research subjects within a 90-day period.

Unused incentive cards cannot be returned to the supplier. The person accountable should contact their business officer if there are any remaining cards left over at the end of the project. If charged to a sponsored project (Fund 20), the business officer will process a journal to move the expenditure off the project and to a college/departmental chart field string for appropriate documented use. Departments must maintain internal controls over the cards and continue to document their use until they have all been expended.

B. Incentive Card Procedure

1. Research Subject Incentive Card Request
   The following items are required to be included as an internal attachment to the buyWay$ requisition to successfully place an incentive card order. A person accountable must sign all forms submitted.
   • Incentive Card Statement of Responsibility Form (with budget justification)
   • IRB approval letter

To allow time for shipping, cards should be ordered three to four business days before they are needed. The appropriate account code to use for research incentive cards on most sponsored research projects is 7312 (Incentive Cards). In cases where projects have participant support costs (PARTSP) specifically budgeted for research participants, the account code is 7550 (Part Supp Incentive Cards). If you are unsure of which account code to use, please check with your college post-award contact.

2. Non-Research Subject Incentive Card Request
   The following item is required to be included as an internal attachment to the buyWay$ requisition to successfully place an incentive card order. A person accountable must sign all forms submitted.
   • Incentive Card Statement of Responsibility Form

To allow time for shipping, incentive cards should be ordered three to four business days before they are needed. The appropriate account code to use for non-research incentive cards is 7312.

C. Incentive Card Restrictions

Clemson University has established certain restrictions as to the use of incentive cards.

• Under no circumstances are research incentive cards to be purchased for a purpose other than paying research subjects participating in an approved study outlined in the IRB approval letter.
• An employee is not allowed to receive incentive cards for research incentive participation related to their job.
• Incentive cards are not returnable to the supplier. All sales are final.
• Incentive cards should not be acquired for the purpose of making routine purchases for business needs

D. Subject Payment

An Incentive Card Distribution Log must be maintained by the department for which the study was performed. For non-research, this is the department that disbursed the incentive cards. A copy of the completed distribution log must also be attached to the requisition/purchase order in buyWay$ within 15 days of disbursement of all incentive cards, completion of the study/activity or by January 15 if the study/activity exceeds one calendar year. If any individual received $600 or more in incentive cards during the calendar year, section E.2 below also applies. When necessary, the log will maintain subject confidentiality by the use of identifiers. Due to the nature of the data collected on the Incentive Card Distribution Log, it must be treated as confidential information. Failure to provide adequate documentation and adhere to this policy will jeopardize the researcher’s/requestor’s ability to use incentive cards in the future.

1. University Employee
   The IRS considers incentive cards to be tax reportable as compensation when issued or awarded to the recipient, regardless of value. The value of the incentive cards will be included on the employee’s annual W-2 in taxable income. (Note: This may not apply if the employee is participating in research dissimilar to their normal job functions or does not meet the $600 threshold.) It is the duty of the person accountable to make the employee aware of the tax implications of the incentive.
2. Nonemployee
   For subjects or individuals who receive incentive cards over $600 on a single or cumulative basis during a single calendar year, the total of the cards will be reported to the IRS via Form 1099. The subject’s name, address, Social Security number, date of payment and payment amount must be hand delivered to Procurement and Business Services, 391 College Ave., Suite 203, Clemson, SC 29631 no later than January 15 of the subsequent calendar year. All personal identifying information should be kept secure and should not be emailed or sent via interoffice mail.

 F. Inventory
Responsible personnel holding more than one card must perform physical inventory on cards yet to be distributed, at least on a weekly basis. Incentive cards remaining after 90 days must continue to be inventoried on a weekly basis. Inventory must be performed by someone other than the person accountable but in the presence of the person accountable. Both employees must sign off on the inventory log each month and maintain the record for auditing purposes. Any discrepancies must be reported immediately to the appropriate business officer.

Policy
Effective: January 10, 2015
Revised: April 1, 2016

Clemson University must take all appropriate measures to secure cardholder data when accepting credit card payments to the University. Credit card transactions have become the preferred method for making payments to the University. All departments that accept American Express, Discover, MasterCard and Visa payments are required to comply with the Payment Card Industry Data Security Standards (PCI-DSS). To comply with PCI-DSS, employees who work directly with cardholder data are required to review this policy and associated PCI training materials on an annual basis.

Definition
Cardholder data elements include:

• Cardholder name.
• Primary account number.
• Expiration date.
• Service code.

Procedures
Effective: 1/10/15
Revised: 10/9/18

Cardholder Access

• All merchants must be authorized by Cash and Treasury Services.
• University employees must be trained in the proper handling of credit card information. Individuals who are new to the role must be trained in PCI-DSS Compliance prior to processing cardholder data.
• Access to cardholder data must be restricted appropriately based on job function.
• This policy must be reviewed by authorized individuals annually through the Tiger Training System.

Transmission of Cardholder Data

• Cardholder data must not be transmitted in an unsecured manner, e.g., unencrypted email, electronic messaging, public fax machines and inter-office mail.

Storage of Cardholder Data

• Do not store cardholder data in electronic format. Electronic formats include files on computers, smartphones, flash drives and other similar devices.
• Do not store cardholder data in paper format. Once the cardholder information has been processed, destroy it with a crosscut shredder.

Telephone Payments — Cardholder-Not-Present Transactions

The use of a point-of-sale device will not be permitted to process cardholder-not-present transactions. Please contact Cash and Treasury Services to transition to a TouchNet MarketPlace Online Store.

Fax Payments

The use of a point-of-sale device will not be permitted to process cardholder-not-present transactions. Please contact Cash and Treasury Services to transition to a TouchNet MarketPlace Online Store.

Card-Present Transactions (Point-of-Sale Device)

Credit card processing devices must be configured to display only the last four digits of the credit card number on printed receipts.

• Picture ID required if the card is not signed.
• Provide receipt to cardholder.
• Store settlement and merchant copies in a secure area.

Receipt of Cardholder Information in Email

• Any unencrypted credit card information received by email will not be processed.
• The recipient of cardholder data will notify the sender that the transaction cannot be processed. Other acceptable methods for processing the credit card transaction will be offered. An email response template is provided below.

Retention and Destruction of Cardholder Data

• Cardholder data will be destroyed once the transaction has been processed. Paper will be crosscut shredded.

Contacts
Cathy Freeman
Cash and Treasury Services
864-656-0530
cdorfne@clemson.edu

Office of Information Security and Privacy
864-656-7131
clemson.edu/ccit/help_support/safe_computing/

Template
Email response for credit card number received by email:

Thank you for your recent email regarding payment for _______________.  To protect your credit card information, we cannot accept your payment via email. Email is an insecure means of transmitting cardholder information and/or other sensitive information. Effective October 1, 2015, to protect your credit card information, Clemson University will not accept credit card payments by telephone or fax machine. To complete your credit card transactions, please visit _________________________ to make an online payment.
 
Before sending the response, delete cardholder data. Delete the original message after replying.

Policy

Effective: December 1, 2011

The University provides for the procurement and payment of services and supplies; however, in certain circumstances, due to the timing and nature of transactions, a petty cash fund may be required. These instances should be extremely rare and limited to special circumstances. The petty cash fund is not to be used to circumvent University procedures and record-keeping in regard to purchases and payments. The fund should be a small amount of currency issued and held by departments to cover payments of day-to-day miscellaneous purchases and postage charges. All departments maintaining petty cash funds should exercise control over their use.

Discussion
Departmental petty cash funds and custodian must be approved by Cash and Treasury Services before they can be established or increased. Each department is responsible for designating a custodian that is responsible for the safekeeping, disbursing and balancing of the fund. Cash and Treasury Services must be notified and approve any time there is a change of custodian.

The custodian must obtain a receipt for each expenditure reimbursed using petty cash funds. In instances where a receipt cannot be obtained, a Petty Cash Voucher must be completed. It is the custodian’s responsibility to replenish the fund on a regular basis and to reconcile and reimburse receipts and Petty Cash Vouchers on a monthly basis. Receipts older than 90 days shall not be reimbursed.

Any overages in the fund must be deposited with Cash and Treasury Services. Shortages in the fund beyond the control of the custodian are to be repaid using the department's operating funds. Shortages must be fully documented in writing.

Petty cash funds are to be maintained on an imprest basis, which means the amount of the fund remains constant. Currency and coin plus petty cash receipts in the fund should always equal the authorized amount of the fund. This fund belongs to Clemson University and should be kept on University property at all times. As such, the fund can be subject to surprise count by the Office of Internal Auditing, Cash and Treasury Services and the University’s external auditors during normal business hours. Department supervisors should periodically perform surprise counts on a regular basis.

Certain restrictions as to the use of petty cash funds have been established by the University. Under no circumstances shall monies be loaned or borrowed from the fund for personal use. The fund may not be used to cash personal checks or to purchase gifts and/or make advances. Mishandling of petty cash funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

Procedures
Effective: December 1, 2011

Establishing or Increasing a Petty Cash Fund
To open a petty cash fund, a Request for New Fund Form, approved by your business officer, must be submitted for approval to Cash and Treasury Services. To increase a petty cash fund, the Petty Cash Fund Form must be completed and submitted to Cash and Treasury Services.

1. A custodian for the fund must be appointed and is the party responsible for safekeeping, disbursing and balancing the fund.
2. Determine the fund amount by estimating expenditures for a two-week period.
3. Upon completion of the approval process, the customer will be notified by Cash and Treasury Services.

Custodian Responsibilities
The custodian of the fund is fully responsible for the safekeeping of the fund and for its proper usage. The custodian must exercise caution in the administration and protection of the fund in his/her possession.  

1. Access to the fund should be limited to the petty cash custodian.
2. The fund should be locked in an office safe or file safe or secured in a location that can only be accessed by combination or key. The key should be kept in the custodian’s possession. At no time should the funds be left in unlocked desk drawers or cabinets. Funds should not be retained in desk drawers or standard file cabinets since they are easily accessed with minimal forcing or readily available keys.
3. Petty cash funds must not be commingled with any other funds or used for any purposes other than those listed in this policy document.
4. Any discrepancies in the fund are the responsibility of the custodian and the departmental administration.
5. It is the responsibility of the custodian to follow current University policies and procedures in maintaining the petty cash fund.

Procedure to Change Custodian
If the fund custodian at any time needs to be changed due to a job transfer, termination of employment at Clemson University or any other reason, it is necessary to transfer the fund to a new custodian using the Request for New Fund Form. The fund should be counted and reconciled by the current custodian and then turned over to the new custodian. The new custodian should acknowledge receipt of the fund by signing a form documenting the transfer of funds and the accompanying responsibility. The completed form should be sent to Cash and Treasury Services. 

Petty Cash Fund Accounting

A receipt or an invoice should be obtained for each expenditure. Receipts should include the date of the purchase, the amount spent and a description of the goods or services purchased. If a receipt is not normally issued, or the expenditure is for such items as bus or train fare, the purchaser must complete and sign a Petty Cash Voucher with appropriate dates, amounts and reasons for expenditure. The custodian will approve and reimburse the purchaser.

1. No amount over $25 should be reimbursed without a receipt.
2. Reimbursements should not be made for receipts presented that are older than 90 days.
3. The employee seeking reimbursement should fill out a Petty Cash Voucher, which will include an explanation of the purchase and be signed and dated.
4. More than one purchase or payout may be listed on the same Petty Cash Voucher when the account to be charged and the employee being reimbursed remain the same.
5. Presentation of the approved Petty Cash Voucher to the fund’s custodian will result in reimbursement.
6. The custodian should make payouts directly to the individual requesting the reimbursement. No payouts should be made to departmental employees for the delivery of currency to another party.

Petty Cash Fund Replenishments
Petty cash funds should be replenished on at least a monthly basis. Receipts and Petty Cash Vouchers should be reconciled and reimbursed on a monthly basis. 

1. Use the Petty Cash Form through Cash and Treasury Services to replenish a fund.
2. A memorandum should be requested from the University Police Department acknowledging that the theft has been reported and investigated by them —including the incident number and the exact dollar amount — to reimburse a fund for stolen currency. A copy of the memorandum should be attached to the Petty Cash Form as a backup to support the request for reimbursement.

Overages and Shortages|
Any overages in the fund must be deposited with Cash and Treasury Services. Shortages in the fund beyond the control of the custodian are to be repaid using the department’s operating funds. Shortages must be fully documented in writing.

Theft or Loss of Funds
If burglary or theft is suspected, the University Police Department should be notified immediately after discovery. Please refer to the Petty Cash Fund Replenishments section for information on how to replenish your fund after a theft.

Verification of Fund by Department
Petty cash funds will be verified on an annual basis by the department head or a designee. The department head or designee should verify and reconcile the fund. Under no circumstance should the custodian verify the fund.

To Close a Fund
If the petty cash fund is no longer needed by the department for the purpose intended, it is the custodian’s responsibility to close the fund. The custodian should first fully reimburse the fund by preparing a Petty Cash Form with payout documentation attached. The fund total is then deposited by processing a web deposit in TouchNet, which includes the CUBS account number assigned when the fund was opened. Both procedures may be performed at the same time. Also, be sure that the web deposit contains the name of the custodian to be relieved of responsibility.

To Decrease a Fund
If the petty cash fund balance becomes too high for the needs of a department, it is the custodian’s responsibility to decrease the fund. The same procedure is followed to decrease the fund as the one described above to close a fund. The web deposit description should contain the fund total, the amount of reduction and the fund custodian’s name.

Policy
Effective: July 1, 2001

Departments must be authorized to receive payments on behalf of Clemson University. Approved departments are responsible for ensuring adequate control procedures are in place to secure the collection and proper receipt of monies.

All requests for authorization to collect fees must be submitted in writing to Cash and Treasury Services, Clemson Centre, 391 College Ave., Suite 302.

Responsibility Statement
Cash and Treasury Services is responsible for establishing and enforcing a reasonable cash receipting policy that will provide the necessary internal controls and accountability of cash receipts. It is the responsibility of the departments authorized to receive payments on behalf of Clemson University to maintain internal controls and accountability of cash receipts. Instances in which it appears that a department is not complying with this policy and procedures will be reported to the appropriate department/division personnel for action. For assistance or any questions about this policy or procedures, please contact Cash and Treasury Services in Clemson Centre, 391 College Ave., Suite 302 or by telephone at 864-656-5601.

Procedure
Effective: July 1, 2011
Revised: August 1, 2018

Definition: Cash, as referred to throughout this document, includes both currency and coins. Check, as referred to throughout this document, includes both check and money order.

Adequate Separation of Duties 
All authorized receipting areas must establish an adequate separation of job responsibilities that adhere to the University Separation of Financial Administrative Duties Policy. Departmental management is responsible for ensuring that the financial administrative duties indicate clear lines of authority and responsibility. These duties are to be segregated so that one individual’s work routinely serves as a compensating check on another’s work. No one individual should have complete control over a financial transaction. Standards for separation of duties shall be implemented to the maximum degree possible. At a minimum, clear lines of authority and responsibility must be established to segregate the various steps of a transaction. Specifically, the person that accepts funds (in person or through the mail) and issues receipts must not prepare the deposit. Additionally, the person preparing the deposit must not reconcile the CUBS account.

Receipts 
All authorized receipting areas must use the Clemson Receipting System (CRS) to record all funds received. CRS instructions (PDF) are available for more information. In instances when an employee does not have access to a computer, a paper receipt book purchased from Cash and Treasury Services may be used. Receipt books can be purchased on the Marketplace.

Departments must record each transaction in the Clemson Receipting System (CRS), a prenumbered receipt book, a cash register or another preapproved receipting method in the presence of the customer or payer. A receipt must be delivered to the payer either electronically or in printed form. When payment is received by mail, a receipt is not returned. When completing a receipt (other than from a cash register), the following information must be recorded on each receipt:

• Department name.
• Name of the payer.
• The date of receipt.
• The amount of payment.
• The purpose of payment.
• The signature of the person receipting monies (when using a receipt book, the CRS system enters the Clemson University user ID).
• The form of payment (cash, check, credit card).

Receipt Distribution
For in-person payments, a copy of the receipt from the CRS system should be either emailed or printed and provided to your customer. When using a paper receipt book, the original receipt is issued to the individual from whom a fee has been collected. Retain one copy of the receipt in the receipt book. If special circumstances require a three-part receipt book, department guidelines will dictate the use of the third copy.

Voiding a Receipt
All receipts must always be accounted for. When voiding a receipt in the CRS system, a supervisor must approve the void (see CRS instructions for directions). When voiding a receipt in a receipt book, write VOID and the reason and have a supervisor sign across the face of the original and each copy of the receipt. The original and all copies of the voided receipt will be retained in the receipt book.

Handling Cash, Check and Credit Card Payments 
Safeguarding revenue and receipts prior to deposit is the responsibility of the authorized receipting area. All cash, checks and credit card information must be retained in a secure place until the deposit is made. Access to the funds will be restricted to ensure proper accountability of the funds. 

For proper internal control, only the department head or authorized designee will receive payments on behalf of Clemson University.

Checks must always be made payable to Clemson University. Checks cannot be made payable to projects, seminars, conferences, clinics or any other such activities. 

Restrictively endorse (stamp for-deposit only) all checks immediately upon receipt. Authorized receipting areas will be responsible for obtaining a restrictive endorsement stamp stating:

(YOUR DEPT NAME WILL GO HERE)
FOR DEPOSIT ONLY
CLEMSON UNIVERSITY
DEPOSIT SWEEP ACCOUNT
(BANK NAME WILL GO HERE)
(H12 BANK ACCOUNT NUMBER WILL GO HERE)

The restrictive endorsement serves as protection against lost or stolen items and enables research to be conducted if items are not properly credited or further information is needed.

Items Received Through Mail 
If checks are received through the mail, the person opening the mail should record each item in the CRS system. After each item has been recorded in the system, the user may pull a report and pull each item recorded into an Excel spreadsheet and print for a daily log. When a computer is not available, the person opening the mail should prepare a handwritten check log or use a preapproved method of recording the items. The mail log must provide the check date, number, amount and payer and should be maintained on a daily basis. A handwritten receipt or cash register receipt may be used instead of a mail log when checks are received infrequently.

Cash Register Receipts 
Receipts generated by a cash register or a computer will contain the following information:

• Receipt number.
• Clemson University.
• Department name.
• The date of receipt.
• The amount of payment.
• Identification of the person receipting monies.
• The form of payment (cash, check, credit card, money order).

Record of cash register receipts will be maintained in the same manner as handwritten receipts noted above.

Procedures for Preparing and Depositing Receipts:
WARNING: Any person delivering a deposit to Wells Fargo Bank should take adequate precautions for their personal security and safety. Do not send cash through the mail.

Departments that are authorized as receipting areas must make deposits to Wells Fargo within the times specified below: 

• Departments receiving cash, money orders and/or checks daily must deposit funds no later than the next business day after the day the funds are received.
• Departments receiving funds less frequently than daily must deposit funds no later than three business days after the day the funds are received.
• Departments accepting credit card payments must receipt funds no later than the next business day after the day the funds were received.

The only exception is in regard to the Accounts Receivable office, which must deposit funds no later than five business days after the funds are received. All instances in which it appears deposits are not being deposited in accordance with the time periods above will be reported to the appropriate department/division personnel for action, and the Office of Internal Auditing will be copied.

Off-Campus Procedures
Funds received in off-campus departments must be handled in the same manner noted above regarding issuing receipts or cash register receipts, items received through the mail, timing of deposits, and proper segregation of duties. In addition, all cash received should be handled as indicated below: 

1. An off-campus department with a departmental bank account will restrictively endorse all checks and deposit funds received into the departmental bank account. A copy of the deposit receipt should be emailed to Cash and Treasury Services at psadeposits@clemson.edu.
2. An off-campus department that does not have a departmental account but does have access to a Wells Fargo or First Citizens Bank branch should deposit funds directly to Clemson University’s composite bank account. All checks must be restrictively endorsed.
3. Retain original documents in your department. Deposit slips for the Clemson University composite bank account can be obtained from Cash and Treasury Services.

ATM Deposit Procedures
Funds received and deposited with an ATM must be handled in the same manner noted above regarding issuing receipts or cash register receipts, items received through the mail, timing of deposits, and proper segregation of duties. In addition, all cash received should be handled as indicated below:

1. A department that has a Wells Fargo deposit-only card will make a check or cash deposit in an ATM only after the proper approval process has been completed. The ATM accepts a total of 30 checks and 30 bills during one transaction. Bills and checks must be deposited separately. If you have more than 30 checks and/or 30 bills, you will have to make separate deposits.
2. Once the deposit has been processed and a valid receipt is given, a web deposit must be entered during the same business day.

Failure to Receive Funds
If you run a query and your funds have not been allocated to your revenue chart field string within three to five days from the date of the deposit, notify Cash and Treasury Services at 864-656-5601.

Deposit Overage or Shortage
Deposits are always verified by either personnel within Cash and Treasury Services or Wells Fargo Bank. If an overage or shortage exists, you will be notified immediately by Cash and Treasury Services.

Revenue Detail Report Reconciliations

Returned Items 
Checks returned by the bank twice will be charged back to the department that accepted the check. The department and/or individual that made the original deposit will be notified of this adjustment. Departments attempting to collect payment should charge an additional $30 returned check fee. The fee should be charged to account 4755 (service charges). The returned check fee may be waived, at the department’s discretion, in the event checks are lost or stolen.

For additional return check handling procedures(PDF), download the document.

Policy
Effective: July 1, 2016

The University provides for the procurement and payment of services and supplies; however, in certain circumstances, due to the nature of transactions, a temporary petty cash advance may be issued. Temporary petty cash advances are not to be used to circumvent University procedures and record-keeping regarding purchases and payments. Advances are available for student travel, research study subject payments, awards or prizes to support student activities, and for other valid expenses that cannot be processed by the University’s purchasing system or through the use of a purchasing card. Advances are also available for employee travel (see Travel Cash Advance – Authorization Policy). Advances are to be temporary in nature, meaning that repayment is due within 30 days of the advance issue date. All departments receiving temporary petty cash advances are required to exercise control over their use.

Discussion
All temporary petty cash advance requests must be submitted to Cash and Treasury Services using a Temporary Petty Cash Advance Form. Requests must be made at least five business days before the funds are needed. Requests not made five business days in advance may not be fulfilled. The request must be initiated by the employee who will ultimately safeguard the funds and account for their disbursement. A separate employee may be designated on the form to issue repayment to Cash and Treasury Services. Temporary petty cash advances will be processed by direct deposit. Cash will not be given under any circumstances.

Temporary petty cash advances should only be requested in anticipation of immediate need or use. All advances must be repaid to Cash and Treasury Services within 30 days of the issue date. Funds may only be used for the purpose indicated on the Temporary Petty Cash Advance Form. Any funds remaining must be redeposited.

Departments are responsible for documenting the use of temporary petty cash advances. If the advance is distributed (i.e., in support of research study subjects or for awards or prizes to support student activities, etc.), the person accountable must keep a log of any disbursements made. All documentation must be retained within the department for auditing purposes.

The person accountable is responsible for safeguarding the funds until they have been either exhausted or redeposited. Funds should be accounted for on a weekly basis. Any shortages must be reported immediately to the Office of Internal Auditing. If burglary or theft is suspected, the University Police Department should also be notified immediately after discovery. Mishandling of funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

Procedure
Effective: July 1, 2016

Requesting a Temporary Petty Cash Advance
To obtain a temporary petty cash advance, a Temporary Petty Cash Advance Form, approved by your department head/director, must be submitted for approval to Cash and Treasury Services. Advances should only be requested in anticipation of immediate need or use. Requests must be made at least five business days before the funds are needed. (Requests not made five business days in advance may not be fulfilled.) The request must be initiated by the employee who will ultimately safeguard the funds and account for their disbursement. A separate employee may be designated on the form to issue repayment to Cash and Treasury Services. If a separate employee is designated, the requestor’s signature indicates that they have made this employee aware of the request and that documentation has been provided to them. Temporary petty cash advances will be processed by direct deposit. Cash will not be given under any circumstances.

Allowable Uses and Limits
Due to the nature of transactions in some circumstances, a temporary petty cash advance may be necessary. Advances are available for the following purposes:

1. Student travel.
2. Incentive for research subjects in studies approved by the University’s Institutional Review Board (IRB). (Incentive cards are the preferred method for research subject incentives. Refer to the Incentive Cards Policy for more information.)
3. Prizes, recognition awards or tokens of appreciation for students.
4. Prizes and recognition awards for volunteers.
5. Change fund for an event.
6. Other valid expenses that cannot be processed by the University’s purchasing system or through the use of a purchasing card.

Temporary petty cash advances are not to be used to circumvent University procedures and record-keeping regarding purchases and payments. Advances cannot be used as a bonus, award, honoraria or other means of compensation to employees. These payments must be processed through the payroll system. If there is any question about a particular situation, the Office of Human Resources should be consulted. Advances may only be used for the purpose stated in the original request. Any funds remaining must be redeposited.

Internal Controls
All departments receiving temporary petty cash advances are required to exercise control over their use. Advances must be safeguarded at all times. The person accountable for the funds has primary responsibility for safekeeping and proper usage. Funds must be secured at all times with limited access. The following internal controls must be maintained at a minimum:

1. Funds should be held on campus prior to travel or disbursement. They must be kept in a locked office safe or file safe or secured in a location that can only be accessed by combination or key in the accountable person’s possession. At no time should the funds be left in unlocked desk drawers or cabinets. Funds should not be retained in desk drawers or standard file cabinets since they are easily accessed with minimal forcing or readily available keys.
2. Advances must not be commingled with any other funds or used for any purposes other than those listed on the Temporary Petty Cash Advance Form.
3. A weekly count of funds must be conducted by the person accountable for said funds. Any discrepancies in the fund are the responsibility of the person accountable, as listed on the Temporary Petty Cash Advance Form.

Repaying a Temporary Petty Cash Advance
Advances are to be temporary in nature, meaning that repayment is due within 30 days of the advance issue date. To repay an advance, process a voucher in buyWay$ made payable to Clemson University-Cash and Treas Campus. The petty cash account code should not be used when repaying a cash advance. Consult your business office if you need assistance in selecting a chart field string.

Required Documentation
Departments are responsible for documenting the use of temporary petty cash advances. If the advance is distributed (i.e., in support of research study subjects or for awards or prizes to support student activities, etc.), the person accountable must keep a log of any disbursements made. All documentation must be retained within the department for auditing purposes.

Redepositing Remaining Funds
Funds may only be used for the purpose indicated on the Temporary Petty Cash Advance Form. Any funds remaining must be redeposited to the same chart field string that was used when repaying the advance.

Tax Reporting for Fund Disbursement
If the temporary petty cash advance is distributed to research study subjects or given as a prize or award, any one person receiving $600 or more on a single or cumulative basis during a single calendar year will be reported to the IRS via Form 1099. The department receiving the cash advance is responsible for sending the person’s name, address, Social Security number, date of payment(s) and total payment amount to University Disbursements, 391 College Ave., Suite 203, Clemson SC 29631 no later than January 15 of the subsequent calendar year. All personal identifying information should be kept secure and should not be emailed or sent via interoffice mail.

Theft or Loss of Funds
A weekly count of funds will be conducted by the person accountable for said funds. Any shortages must be reported immediately to the Office of Internal Auditing. If burglary or theft is suspected, the University Police Department should also be notified immediately after discovery. Mishandling of funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.