20.10 Receipts, Chancellor's Office Business Policies & Procedures
Purpose:
To establish policies and procedures associated with receipts.
Policy:
The following procedures will be used for processing receipts. Note: There are procedures for each of the following types of receipts:
Procedures for Cash and Checks:
Consideration should be given to the Internal Control Guidelines included herein.
- Department Staff delivers to Business Processing Staff any monies received.
- Business Processing Staff logs in all checks and cash received.
- The Department Head or Department Approver specifies the index and account code that should be used to record the deposit.
- Business Processing Staff prepares a cash deposit using the OUS cash deposit form and deposits all monies received at least once each week and whenever $1,000 or more is on hand.
- Business Processing Staff transmits cash receipt documents to Treasury Operations within the Controller's Division for entry into the Financial Information System (FIS).
- After entry into FIS, Treasury Operations routes the cash receipt packet to the FIS Approver(s).
- The FIS Approver approves the transaction in FIS if, upon examining the cash receipt packet:
- All necessary approvals have been made.
- The information which has been entered into FIS agrees with information on the cash receipts packet.
- The cash receipt appears reasonable and within the normal range of business activity for the Department.
- Prior to final approval in FIS, the FIS Approver brings any unusual items to the attention of the Business Services Manager for resolution. The Business Services Manager:
- reviews the unusual items;
- clarifies the facts and circumstances (as needed);
- researches applicable laws, rules, regulations, policies, past practices, and approved exceptions;
- consults with Controller's Division staff and Controller (as needed) to determine resolution; and
- coordinates communication of resolution to Department Head and appropriate Department Approver.
- Periodically (at a minimum of quarterly), Business Processing Staff reconciles documentation (cash receipts, transmittal documents, etc.) with activity in FIS.
- Following the reconciliation, Business Processing Staff files the cash receipts in archive files.
Internal Control Guidelines for Cash and Check Handling:
- Maintain a log of all monies received
- Provide a receipt
- Immediately restrictively endorse checks received
- Keep cash and checks in a locked, secure, and restricted area until they are deposited
- Deposit monies in a timely manner
- Verify deposits independently
Procedures for Automated Clearing House (ACH) Transactions:
- Department completes the ACH enrollment form in order to receive ACH transfers. Check to be sure the information for the Chancellor's Office is accurate, as detailed below:
Bank |
US Bank National Association OR
111 S Elm Street
Canby, OR 97013 |
ABA Routing No |
(see Note A below) |
ACH Coordinator |
Nikki Main (503) 378-2462
Debbe Myers (503) 378-5043 |
Account Title |
Chancellor's Office |
Account Number |
(see Note A below) |
- Mail the ACH form to Jackie Thorsness in the Controller's Division:
- Jackie Thorsness
OUS Controller's Division
PO Box 488
Corvallis, OR 97339-0488
Telephone: (541) 737-0822
Fax: (541) 737-0850
E-Mail: jackie_thorsness@ous.edu
Be sure to include information on how to distribute the form:
- Completed form should be sent to the agency and a copy sent to the institution, or
- Completed form should be returned to the institution who will forward it to the agency
- Jackie will coordinate with Oregon State Treasury to get an OST signature and then will forward the forms as indicated in step 2 above.
Note A: For security reasons, this information is not provided in these procedures. Contact Jackie Thorsness at (541) 737-0822 or jackie_thorsness@ous.edu to get this information.
Procedures for Incoming Wire Transfers:
- All incoming wire transfers for OUS institutions are processed through the Cash Management Branch of the Oregon State Treasury. Required information for incoming transfers is shown below:
Beneficiary Name: |
Oregon State Treasury |
Bank Name and Address: |
US Bank
615 NE Liberty Street
Salem, OR 97301 |
Bank Routing Number: |
(see Note A below) |
Bank Account Number: |
(see Note A below) |
SWIFT Code: |
(see Note A below) |
Purpose or Description: |
include school name, receiving department name, fund number to be credited, purpose, etc. |
Oregon State Treasury Contact: |
Debbe Myers or Nikki Main
Cash Management Division
Oregon State Treasury
350 Winter Street NE, Suite 100
Salem, OR 97301 |
Chancellor's Office Contact: |
Jackie Thorsness
OUS Controller's Division
PO Box 488
Corvallis, OR 97339-0488
Telephone: (541) 737-0822
Fax: (541) 737-0850
E-Mail: jackie_thorsness@ous.edu |
- Notify Jackie Thorsness if you are expecting an incoming wire transfer to ensure proper credit. Please DO NOT contact the State Treasury directly. The Treasury has requested that all correspondence be routed through the Controller's Division
Note A: For security reasons, this information is not provided in these procedures. Contact Jackie Thorsness at (541) 737-0822 or jackie_thorsness@ous.edu to get this information.
Forms:
Last Updated: 12/16/08