210-05
POLICY AND PROCEDURE DOCUMENTS

POLICY & PROCEDURE

Subject:

CASH CONTROL

Index: Finance & Information Services

Number:    210-05

Effective Date

4/14/2004

Supersedes

8/1/85

Page

1 of 2

Staff Contact

Victoria Runkle

Approved By

Kathy Keolker-Wheeler

1.0 PURPOSE:

To establish procedures for receipt and deposit of cash received by city departments, and the cashing of checks.

2.0 ORGANIZATIONS AFFECTED:

All departments/divisions.

3.0 REFERENCES:

None.

4.0 POLICY:

4.1    To facilitate citizens/customers doing business with the City of Renton, receipts will be written by each department who accepts payments. Prompt remittance of these receipts and payments will be made with the Finance Department to insure:

1.    Increased safety for undeposited cash.

2.    Investment of cash to full potential.

4.2    Fines and fees of less than $2.50, which are collected by the Library, are exempt from this policy.

4.3    No checks shall be cashed or written for more than the amount of purchase.

5.0 DEFINITIONS:

None.

6.0 PROCEDURE:

6.1    Issue a receipt immediately for each collection. These receipts shall include:

1.    Date.

2.    Customer's name.

3.    Purpose.

4.    Amount.

5.    Employee's signature.

6.2    Prenumbered receipts for each affected department will be printed by the Finance Department and shall be issued upon request. An inventory of such receipts will be maintained in the Finance Department. Each department issuing receipts shall be responsible for accounting for all receipts.

6.3    Balance collections to receipts daily.

6.4    Maintain all cash and checks in a secure place.

6.5    Remit all collections to the Finance Department no less than once per week or at any time when cash on hand exceeds $100. Remittances should include:

1.    All cash and checks collected.

2.    Copies of each individual receipt written.

3.    Copies of all voided receipts.

4.    A summary detailing how much money has been collected for each purpose and the account number to be credited.

6.6    The Finance Department will issue a receipt to the department for the funds received. The supporting documents received from the department shall be attached to Finance Department receipt which is retained in the Finance Department.

6.7    Finance Department will deposit all collections in the bank on a daily basis.

6.8    Fines and fees of less than $2.50 which are collected by the Library shall be recorded in a daily log.

6.8.1    A receipt for the total of the collections of less than $2.50 (as recorded in the log) shall be prepared weekly and transmitted to the Finance Department along with the receipts and collections in excess of $2.50.

6.9    No checks shall be cashed or written for more than the amount of purchase.