CASH HANDLING & DEPOSIT
REFERENCE GUIDE
Published: November 2016
Revised: January 2021
TABLE OF CONTENTS
PAGE
Introduction
1
Purpose
1
Cash Management Team
1
Acceptable Forms of Payment and Definitions
1
Approval to Receive Funds
2
Internal Controls
2
Separation of Duties
2
Accountability
2
Safeguarding, Storing and Transporting Funds
2
Bank Accounts
3
Deposit Frequency
3
Bank Deposits (Outreach Locations Only)
3
Third-Party Courier/Armored Car Services
4
Coins and Currency
4
LCSC Deposit Slip Instructions
4-5
Deposit Completion and Accuracy
6
Deposit Cutoff Time
6
Corrections or Duplicate Receipts
6
Checks Mailed to LCSC
6
Photocopying Checks and Cash
6
Sales Tax
6-7
Donations
7
Raffles
8
Auctions
9
Accepting Credit Cards
9
Payment Card Information (PCI) Security
9
Mobile Credit Card Processing
9-10
Credit Card Refunds
10-11
Refunding Cash or Check Payments (Non-AR)
11
Cash Boxes
11
Change Funds
11
Petty Cash
11
TMT Contact Information
12
ACRONYMS USED IN THIS GUIDE
CO
Controller’s Office
TMT
Treasury Management Team
LCSC
Lewis-Clark State College
GL
General Ledger
1
INTRODUCTION
The collection of funds on behalf of LCSC is an important function and due care must be adhered to at all times with
respect to the handling, securing and transporting of funds. These procedures are established in conjunction with the
Idaho State Board of Education policies, which can be found on their website at
https://boardofed.idaho.gov/policies/policy_jump.asp. The Controller or designee is authorized to update the contents
of this document as needed. Further, the Controller or designee reserves the right to make interpretations and
exceptions to these procedures. Previous practices, customs or habits do not justify deviation from these procedures.
PURPOSE
The purpose of this document is to provide guidelines for departments processing the collection of funds on behalf of
LCSC. The V.P. for Finance & Administration or designee is the only individual authorized to establish bank accounts
or other financial relationships on behalf of LCSC. Departments who have demonstrated a valid business purpose for
receiving funds should seek approval from the TMT prior to initiating such activity. The TMT is responsible for
ensuring that departments are authorized to collect funds and that personnel have been properly trained in the receipt
and handling of funds. Management in the various departments is responsible for implementing proper collection
practices and internal controls.
CASH MANAGEMENT TEAM
The TMT is located in the Controller’s Office (CO) in ADM 103 and is comprised of the Controller, Lead Treasury
Specialist, and Treasury Specialist. Questions regarding the policies or procedures included in this document can be
directed to any of these individuals. Contact information is provided on the last page of this manual.
ACCEPTABLE FORMS OF PAYMENT AND DEFINITIONS
➢ Funds – Any form of legal tender accepted by LCSC (includes all methods listed below).
➢ Cash – Only U.S. government issued currency is accepted. Currency in denominations of $50 or more must
be verified with an approved counterfeit-detecting device. Departments regularly accepting $50 or $100 bills
should purchase an approved counterfeit-detecting marker; otherwise, the TMT will check any bills prior to
being deposited. Cash collections must be safeguarded at all times, using proper internal controls and
security, including storing cash in a designated locked location. Departments unable to do so should not
accept cash and should send individuals to the Cashier’s Window to pay.
➢ Checks – Only personal or business checks drawn on U.S. banks made payable to LCSC or an abbreviation
or derivative thereof will be accepted. Third party checks are prohibited. Checks should contain identifying
information on the front of the check, including the full legal name(s) of the accountholder(s), their current
mailing address and a valid phone number. The individual accepting payment should confirm that the written
amount matches the numerical value, since the written value is how the funds should be receipted. Checks
should be secured in a designated locked location where only authorized individuals can access them.
➢ Money Orders - Money orders drawn on U.S. banks made payable to LCSC or an abbreviation or derivative
thereof will be acceptable. All applicable fields on the money order must be completed by the purchaser
before payment is accepted.
➢ Credit Cards – Visa, MasterCard, Discover, and American Express cards may be accepted by approved
departments in-person, over the phone or online. Credit card payments must be processed through a method
approved by the TMT. All payment settlements must be deposited into an LCSC bank account. If applicable,
processing fees must be paid by the department receiving the revenue. Employees or designees accepting
credit card payments must confirm the cardholder’s identity. In-person payments require a signature
authorizing each payment. Settlement reports and merchant copies of all receipts must be brought to the
Cashier’s Window with a LCSC deposit slip.
➢ Electronic Checks/ACH – Electronic checks/ACH payments may be accepted by approved departments
in-person or online once they have been setup with an approved processor by the TMT. All settlements must
be deposited directly into an LCSC bank account. If applicable, processing fees must be paid by the
department receiving the revenue. Returned electronic check payments are subject to a returned check fee.
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APPROVAL TO RECEIVE FUNDS
Due to the size of LCSC and its multiple departments, it is not possible to establish a centralized location for accepting
all payments; this has resulted in granting approval to selected departments to receive payments on behalf of LCSC.
The TMT is responsible for working with authorized departments to ensure that LCSC funds are deposited in an
accurate and timely manner.
Departments who need to collect or receive funds as part of their departmental operations should seek approval with
the TMT. If approved, the TMT will be available to (a) provide training as needed to departmental personnel in the
proper handling of funds, (b) review collection practices, and (c) discuss necessary internal controls.
INTERNAL CONTROLS
Internal controls should be continually monitored and reviewed to ensure that errors are minimized, misappropriations
of funds are restricted and confidence is maintained in the cash collection and reporting system. These controls
include but should not be limited to (1) separation of duties, (2) accountability, and (3) safeguarding of funds.
SEPARATION OF DUTIES
There should always be a clear separation of duties between an individual receiving the funds and the person
depositing and reconciling the accounts. The functions listed below should be assigned to prohibit one employee from
performing all associated duties:
➢ Receiving and opening mail
➢ Endorsing checks and monetary instruments
➢ Preparing and verifying deposits
➢ Reconciling deposits to departmental ledgers
In cases where staff limitation prevents the complete separation of all duties, close supervision and monitoring should
be undertaken by the responsible department Director or Manager.
ACCOUNTABILITY
Individuals receiving and recording funds for LCSC have the responsibility of properly documenting all transactions.
Each department should have a system in place to record the specific details of each transaction including the date,
amount, and name of the individual(s) involved in the transaction. The documentation should provide an audit trail so
the transaction can be subsequently reviewed. These records should be retained by the department and kept
separate from the funds.
SAFEGUARDING, STORING AND TRANSPORTING FUNDS
Departments approved to accept funds on behalf of LCSC are responsible for securing all funds in their possession.
This includes petty cash, change funds, cash boxes, and pending deposits. The extent of the physical storage facility
should depend on the amount and regularity of the funds collected. Acceptable locked locations include a locked desk
drawer, reinforced cabinets, safes or vaults. Any locked location should only be accessible by authorized individuals.
Transporting deposits to the Cashier’s Window should not follow any fixed regular time or route pattern; deposit times
should vary and be subject to change at short notice, so as to prevent the possibility of others knowing exactly when
employees will have access to cash. Bank deposit bags should always be disguised in other bags, envelopes or
applicable containers. Under no condition should deposit bags be exposed to public view. Employees’ safety is of
paramount importance, and employees should contact the LCSC Security Office if they feel threatened or if their
personal safety is compromised. Deposits containing a large amount of cash should be brought to the Cashier’s
Window under dual control, which includes either two employees or an employee and an LCSC security officer. Unless
otherwise directed by the TMT, under no circumstances should LCSC funds be taken off campus.
Items used to store or transport funds must be purchased by the department accepting the funds and approved by the
TMT. The TMT will assist with finding acceptable options, if requested. Deposits should be brought to the Cashier’s
Window during business hours. Do not send deposits containing funds in campus mail.
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BANK ACCOUNTS
LCSC funds must be deposited to an official LCSC bank account; under no circumstances should a departmental or
personal bank account be setup or used. Only the V.P. for Finance & Administration or designee has the authority to
establish banking relationships with a financial institution on behalf of LCSC.
DEPOSIT FREQUENCY
Departments should make deposits at least weekly, more frequently when necessary. The table below reflects the
expected timeframe for deposits to be submitted at the Cashier’s Window based on the dollar amount of the deposit. If
a department does not have an approved secure location to store cash, checks or credit card information, deposits
should be brought to the Cashier’s Window the same day the funds are received.
The following guidelines are provided to ensure all departments comply with these procedures:
Deposit Total
Deposit to Cashier’s Window
Up to $499.99
Within 5 business days
$500.00 to $2,499.99
Within 2 business days
$3,000 to $49,999.99
Next business day
$50,000 or More
Same day, if possible
Departments should use the official LCSC Deposit Slip, which can be downloaded from the CO website at
https://www.lcsc.edu/controllers-office/forms. The Deposit Slip is in Microsoft Excel format and any changes or
deviations to the form must be approved by the TMT. Questions regarding the Deposit Slip should be directed to the
TMT. See LCSC Deposit Slip Preparation.
All funds must be deposited at the Cashier’s Window in a timely manner, unless alternate arrangements are made and
approved by the Controller or designee. LCSC entities located away from the main campus can request approval to
make deposits directly to the LCSC General Operating Account. See Bank Deposits (Outreach Locations Only).
BANK DEPOSITS (OUTREACH LOCATIONS ONLY)
The TMT or designees are the only individuals authorized to contact LCSC’s banking partners to request deposit
books or other banking supplies. Deposit books will be distributed to authorized department staff only. Since bank
deposits slips contain LCSC’s bank account information every effort must be made to keep them in a secure location
at all times. All deposit slips must be completed in duplicate and should provide the total cash, a detailed list of all
checks with check number, amount and name of payer. A copy of the bank deposit slip, bank acceptance receipt and
a supporting LCSC deposit slip should be brought to the Cashier’s Window in-person or saved on the designated
Outreach shared drive, which is accessible to only the necessary individuals, including the Treasury Specialists. If a
deposit is saved to the shared drive, a notification email should be sent to cashier@lcsc.edu and any department
necessary to complete preparation of the LCSC deposit slip.
Please refer to the example below on how to complete a bank deposit slip. If a deposit contains more than 28 checks,
list the additional checks on the reverse side of the deposit slip, then enter the total for those additional checks in the
“Total From Other Side” box at the bottom of the deposit slip and include that amount in the deposit total.
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THIRD-PARTY COURIER/ARMORED CAR SERVICES
The TMT is responsible for maintaining relationships with any third-party courier or armored car service. These
services are used specifically to transport funds to/from an LCSC bank account. Any changes to these services
should be authorized by the TMT.
COINS AND CURRENCY
Deposits containing a large volume of coin or currency should be prepared with the following guidelines.
Loose coin should be rolled if there is enough to complete a full roll per the table below. Coin wrappers can be
obtained from the TMT upon request. The department’s name should be clearly written on the wrapper for each roll
prepared before it is deposited. If it is later found that a roll is short or long, the department that wrapped the coin will
be notified.
Currency should be sorted by denomination, faced the same direction and bundled with a rubber band, if applicable.
Only currency that is a complete bundle for the defined amounts listed below should be bound. All currency bundles
will be verified by the TMT before the deposit is recorded in Colleague.
Denomination
Roll/Bundle Amount
Denomination
Roll/Bundle Amount
Pennies
$0.50
Fives
$100.00
Nickels
$2.00
Tens
$250.00
Dimes
$5.00
Twenties
$500.00
Quarters
$10.00
Fifties
$1,000.00
Ones
$25.00
Hundreds
$2,000.00
LCSC DEPOSIT SLIP INSTRUCTIONS
An official LCSC deposit slip is required for all departmental deposits recorded in Colleague. The deposit slip should
provide all instructions necessary for the TMT to record the receipt accurately. Modifications to the deposit slip must
be approved by the TMT. As needs change, the deposit slip will be updated and the current version will be available
on the CO website to be downloaded. Departments are encouraged to use the most recent version of the deposit slip
and will be notified when a new version is available. The deposit slip is in Excel format, which allows departments to
save multiple copies to use as templates for recurring deposit activity. If there are no funds accompanying the deposit
slip, it can be emailed to the TMT as a PDF attachment. Do not send deposits containing funds through Campus Mail.
The original deposit slip will be returned to the department along with a copy of the cash receipt.
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Field
Instructions
Department
Name of the department preparing deposit.
Contact
Name of the individual preparing deposit.
Extension
Direct extension for individual preparing deposit.
Deposit Date
Date deposit is prepared or date funds received.
Deposit Total
Total of all funds included on deposit slip.
Payer
Name of payer(s) or brief description for deposit activity. Limited to
30 characters, prints on the receipt and is description for transaction
in GL/F9.
Comments
To be used only when information must be referenced on receipt.
Comments are stored in Colleague for audit purposes, but will not
show in GL/F9.
GL Account (15-digits)
Formatted for full 15-digit GL account numbers. Account numbers
should only be used once on each deposit slip. If more than one
payment for a specific account needs to show in GL/F9 individually,
prepare a separate deposit slip for each transaction. One cash
receipt is posted for each deposit slip (unless previously arranged).
Description
Brief description of activity or name of object.
Cash
Total of all cash being deposited into specified GL account.
Checks
Total of all checks being deposited into specified GL account.
Credit (Batch)
Total of all credit card transactions processed on a standalone
terminal being deposited into specified GL account.
Credit (Manual)
Total of all unprocessed credit card transactions being deposited into
specified GL account (submitted on authorization form and
processed by the TMT).
E-Checks (Manual)
Total of all unprocessed ACH/E-Check transactions being deposited
into specified GL account (submitted on authorization form and
processed by TMT).
Web Payments
Total of all web payments (online credit card or ACH/E-Check
activity) being deposited into specified GL account. Example: ACI or
PayPal
ACH (In Bank)
Total of all ACH transactions (deposited directly into LCSC’s general
operating account) being deposited into specified GL account.
Payment Total
Sums all payment activity entered for all pay methods for each line
item.
Non-Tax Total
The portion of the payment total that is not taxable for each line item.
Taxable Total
Calculated taxable portion of the payment total based on the non-tax
amount entered and current sales tax rate.
Sales Tax Total
Calculated total sales tax based on the payment totals, non-tax total
and current sales tax rate.
Account Total
Sum of non-tax and taxable totals and is the amount to be recorded
to the specified GL account. (Does not include sales tax).
Totals Row
Totals each column for reconciliation purposes.
Out of Balance Feature
Appears when Deposit Total and sum of total Sales Tax and Account
Totals is not equal. See example.
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DEPOSIT COMPLETION AND ACCURACY
To prevent delays in processing deposits, please ensure that it is complete and accurate before submission to the
TMT. Deposit slip totals should match any funds (cash, checks or credit card slips) included with the deposit. Any
portion of the revenue that is non-taxable should be recorded to adjust the sales tax total deducted from the deposit.
Account numbers should be valid and appropriate for the type of revenue (confirm with TMT, if necessary). If you have
questions regarding deposit preparation, please contact the TMT for assistance.
DEPOSIT CUTOFF TIME
To ensure same day processing, please bring completed deposits to the TMT by 3:00 PM. Deposits received after
3:00 PM will be processed the same day if time allows. Please note that errors with the deposit may cause delays in
processing.
CORRECTIONS OR DUPLICATE RECEIPTS
In situations where a duplicate deposit was submitted and processed that requires a reversal of the duplication, the
following must be adhered to:
➢ The department must submit an explanation for the duplicate submission and request a reversal of the
recorded transaction.
➢ If the duplication is found by the TMT, further information will be requested from the department or an
explanation of the findings will be provided to the department along with any documentation to support the
correction.
Written requests for corrections should be sent to cash[email protected], which is shared by the Treasury Specialists.
Please include the receipt number and an explanation of the necessary correction. If any additional information is
needed, the TMT will follow-up with the department.
CHECKS MAILED TO LCSC
The campus mailroom normally directs any mail that appears to contain a check to the TMT. If you are expecting a
payment in the mail, please notify the TMT by email at cashier@lcsc.edu. If an invoice containing deposit instructions
was sent to the payer, please email the invoice to the TMT. If you did not prepare an invoice or it does not contain
deposit instructions, please complete and email a LCSC deposit slip to the TMT. This advanced notification ensures
prompt processing of payments and provides the TMT with a contact person if there are questions on the specific
payment. In addition, due to the high volume of mail received on campus, checks made payable to an employee for
personal reasons should be mailed to their personal address, not LCSC.
PHOTOCOPYING CHECKS AND CASH
➢ Checks – copies should only be made when it is necessary for the department to retain a copy of the check
for documentation purposes. The account information at the bottom of each check must be omitted from all
copies. Departments can purchase a reusable tape specifically designed for this purpose through Office Depot
(check with the TMT before ordering). Be sure to remove the tape immediately after copying and before
bringing checks to the Cashier’s Window for deposit.
➢ Currency – due to strict laws and regulations regarding copying currency, it is best practice not to do so.
SALES TAX
Departments are responsible for understanding when sales tax needs to be withheld from any funds they collect and
should be recorded accordingly on each deposit slip submitted to the TMT.
What is taxable?
➢ Any tangible goods sold (candy, food, meals, t-shirts, drinks, calendars, etc.)
➢ Admission charges and ticket sales (athletic events, dances, dinners, banquets, concerts, fundraising events)
➢ Fees charged for use of a facility (fitness center membership fees)
➢ Rentals for living purposes that do not exceed 30 consecutive days
➢ Any publication, or labor to print or imprint (subscription or printing fees)
7
➢ Renting or leasing tangible personal property
➢ Auction Items (see additional information below regarding auctions)
➢ Materials and labor for any custom-made tangible personal property
➢ Labor to produce, process or fabricate tangible personal property
➢ Goods sold at rummage sales or yard sales
➢ Fixed admission fees and merchandise prices referred to as “donations” (see additional information below
regarding donations)
➢ Registration fees (camps, tournaments, etc.)
What is non-taxable?
➢ Donations (see additional information below regarding donations)
➢ Locker rentals
➢ Raffle ticket sales (or a chance to win a prize)
➢ Rentals for living purposes that exceed 30 consecutive days
➢ Advertising (billboards or publications)
➢ Association dues
➢ Car washes
➢ Competitor entry fees like races or tournaments (any portion of the entry fee that is for use of a recreational
facility or equipment rental is taxable)
➢ Literature, audiocassettes, videotapes, CDs, etc. that are both published and sold by a nonprofit organization.
➢ Fees for lessons or instruction
➢ Registration fees for conferences, speeches, seminars, etc. (but any portion of the fee that is for meals or
recreation is taxable)
➢ Fees for using a facility for non-recreational purposes (educational or religious programs)
What is Exempt?
The following categories are reasons for a taxable sale to be exempt from sales tax. The necessary documentation
must be provided by the buyer before or at the time of the transaction and a copy must be retained to support the
reasoning for the exempt sale.
➢ The goods will be resold
➢ The buyer is exempt
➢ The buyer’s industry is exempt
➢ The goods will be put to an exempt use
DONATIONS
Donations, or free will offerings, are not taxable unless you put a price on what you are selling, even if you call it a
donation, it becomes taxable. If you advertise “donations accepted” with no amount mentioned or implied and people
may attend without paying, it is considered a donation and is not subject to tax.
All monetary donations should be recorded in Colleague using the following process:
➢ Department completes LCSC Donation Deposit Slip and emails electronic copy (Excel or PDF) to Foundation.
➢ Foundation reviews and responds with any questions before approving.
➢ Foundation approves deposit slip by forwarding original email back to Department and copying TMT.
➢ Department prints approved deposit slip and makes copies of all checks (omitting account information).
➢ Department brings deposit slip, check copies and all funds (cash, checks, credit card settlements) to TMT.
➢ TMT confirms funds match deposit slip and processes deposit.
➢ TMT then distributes deposit documentation to the originating Department and Foundation.
Sponsorships should be reviewed to determine if any portion is considered a donation.
Please coordinate with the Foundation Office on all donations to determine what information they need for their
records.
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RAFFLES
The TMT must be notified of any upcoming raffles before advertising or selling tickets to ensure that the raffle complies
with Idaho Code. The following rules are a general idea of things to consider when setting up a raffle. A completed
Raffle Information Sheet must be submitted to the TMT within three business days of the raffle date. The Raffle
Information Sheet can be downloaded from the CO website under Forms.
➢ Drawings must be held in the State of Idaho.
➢ As a higher education institution, we are not limited to the number of raffles we can conduct annually.
➢ The maximum aggregate value of cash prize(s) per raffle may not exceed $1,000.
➢ If merchandise is used as a prize and it is not redeemable for cash, there is no limit on the value per raffle.
➢ Raffle information must be submitted to and retained by the Raffle Manager for 5 years.
➢ A list of raffles must be provided to the Idaho State Lottery (ISL) annually by the Raffle Manager.
➢ At least 80% of the proceeds must be used for charitable, educational or civic purposes.
➢ If more than one prize is offered to the same pool of entries, the aggregate of those prize(s) must be used and
is considered one raffle.
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AUCTIONS
If proper procedures are followed, auctioned items are only taxable based on their fair market value.
For example, if you sell an item for $100 that you could buy at the store for $10, tax only applies to $10 if you keep
proper records. The amount that exceeds the fair market value is considered a donation, in this case $90.
➢ Place a sign by each auction item indicating its suggested market value. If you have a bid sheet for each item,
you can include this information at the top of the bid sheet.
➢ If you provide a receipt or invoice, it should be broken down to show the fair market value, the tax on that
amount and the difference as a donation.
➢ Deposits for auction sales must be recorded the same way as the invoice or receipt.
➢ If you do not follow these procedures, the full amount is taxable.
➢ Donated services (such as bookkeeping or lawn mowing) are not taxable auction items.
ACCEPTING CREDIT CARDS
Departments that choose to accept credit cards as a method of payment have the following options. The cost of any
equipment and processing fees are the responsibility of the department.
➢ Point-of-Sale Terminal – a standalone terminal that accepts magnetic strip and EMV chip cards, and prints
paper receipts and reports. Payments can be manually entered for phone payments where the card and payer
is not present. Monthly processing fees are billed and paid in the following calendar month.
➢ Mobile Credit Card Terminal – an LCSC-owned mobile device connected to an approved secured Wi-Fi
network that accepts both magnetic strip and EMV chip cards through the Square app. Electronic receipts are
emailed or texted to the payer and reports are accessible through the Square app or via the Square website.
Funds are sent to the bank daily and processing fees are deducted from the bank settlement, which are
recorded when the funds are deposited in Colleague. (Refer to Mobile Credit Card Processing)
➢ Web Payments – payers visit a payment website setup specifically for LCSC that allows them to enter their
own payment information to submit payment to LCSC. Reports for activity are available online. Processing
fees can be passed on to the payer for student-related payments only. Payment confirmations can be emailed
to the payer to serve as a receipt (and copied to the department to serve as notification of payment received).
Monthly processing fees are billed and paid in the following calendar month.
➢ Web-based Point-of-Sale Terminal – a web-based payment site, which allows an LCSC employee to
manually input payment information or swipe cards with a USB card reader. Payment confirmations can be
printed and provided to payer to serve as a receipt. Reports for activity are available online.
If departments do not have enough regular payment activity to justify accepting credit cards, please inquire with the
TMT to make other arrangements.
PAYMENT CARD INFORMATION (PCI) SECURITY
Departments should coordinate with the TMT before accepting credit card information, which should be obtained from
the cardholder in-person or over the phone. Departments who do not have a means to process credit card payments,
may be able to collection payment information with the appropriate Credit Card Authorization form (contact the TMT
before accepting payments). It is best to avoid writing down credit card or bank account information whenever
possible, particularly asking cardholders to mail or email payment information to LCSC.
Departments must keep any authorization forms in a secure location and bring them to the Cashier’s Window for
processing as soon as possible. Do not email or mail payment information to the TMT, it must be brought to the
Cashier’s Window along with an LCSC deposit slip in-person during business hours.
MOBILE CREDIT CARD PROCESSING
The ability to process credit card transactions through a mobile terminal comes with several requirements to ensure
that the transactions are processed per Payment Card Information (PCI) security standards. Mobile terminals can be
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used in place of a point-of-sale terminal; however, there are currently other options available that may be less costly.
Please discuss all options with the TMT to determine what the best fit for your department.
When using a mobile terminal, it must remain connected to an approved secure Wi-Fi network. If access to an
approved secure Wi-Fi network is unavailable, the mobile terminal must be used in offline mode.
Departments have the option to checkout a mobile terminal (iPad) from the CO as needed. There are two available on
a first come, first serve basis. Refer to the steps below for more information on this option.
➢ Notify the TMT at least 2 weeks prior to the event to reserve one or both terminals.
➢ The TMT will work directly with the contact person to determine what settings may be necessary to customize
the mobile terminal for the event.
➢ The mobile credit card agreement must be signed by an approved signer for the cost center specified on the
agreement.
➢ Once the event is over, all equipment is returned to the TMT. Note: The replacement cost for any lost, stolen
or damaged equipment is outlined on the agreement and will be charged to the GL account specified on the
agreement.
➢ The TMT will work with the department on completing deposit slips for all mobile terminal payments.
Departments who show a need for a long-term mobile terminal, have the option to purchase their own equipment.
Refer to the steps below for more information on this option.
➢ Contact the TMT to determine if a mobile terminal is the best option.
➢ Determine which mobile devices are compatible with the mobile processing application (app).
➢ Obtain approval from LCSC Information Technology (IT) before purchasing any equipment.
➢ Once approved, purchase the necessary equipment within the approved guidelines.
➢ Card readers for mobile terminals must be ordered through the TMT.
➢ Note: If a protective case is installed on a mobile device, an audio jack extender may be required. If the card
reader will not plug securely into the audio jack, please contact the TMT.
CREDIT CARD REFUNDS
In most cases, credit card payments must be refunded back to the original card number through the original merchant
account (terminal). Since LCSC accepts credit cards in several different methods, the most common scenarios are
outlined below. To ensure that employees are acting within regulations, it is best to check with the TMT prior to
processing credit card refunds.
➢ Online Payments – online credit card payments can be refunded within 90 days from the original payment
date. Departments must complete a Credit Card Refund Request form, located on the CO website under
Forms, and submit the completed form via email to c[email protected]. Example provided below.
➢ Point-of-Sale Terminal Payments – credit card payments processed on any standalone terminal must be
refunded back on the same terminal and card number. There is no time limitation and it is a regulation with
the credit card companies that requires us to process the refund back to the original card. Our processor does
monitor refund activity and notifies us when questionable activity occurs. These refund requests should be
submitted on an LCSC deposit slip as a negative amount to the original revenue account(s).
Example provided on following page.
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➢ Mobile Terminal Payments – If a credit card transaction originally processed through the mobile, credit card
application (app) needs to be refunded, please inquire with the TMT by emailing cashier@lcsc.edu. We will
advise on the steps necessary to process the refund depending on the circumstances.
REFUNDING CASH OR CHECK PAYMENTS
Refund requests for non-AR payments should be requested and refunded per this policy. Non-AR payments are
payments posted directly to a GL account. Please note that this policy does not apply to payments posted to a
Student Account.
➢ Same Day – payments deemed refundable by an authorized individual before the TMT closes on the same
day the payment was posted in Colleague. If cash was used for the original payment, the TMT issues a cash
refund in-person to the payer. If a check was used for the original payment, the TMT returns the check to the
payer in-person. All same-day refunds require a signature from the payer to acknowledge receipt of the refund
(cash or check). If the payer is not able to return to the Cashier’s Window to obtain their refund in-person,
please refer to the After Payment Date policy for issuing a refund.
➢ After Payment Date – payments deemed refundable after the TMT closes the same day the payment was
posted in Colleague. When this occurs, a requisition should be submitted to request a refund check from the
appropriate GL account. If the original payment was made with a check, please wait at least 10 business days
before issuing a refund check to allow time for the original check to clear the bank.
CASH BOXES
Cash boxes are intended to provide cash to facilitate making change when receiving revenues on a short-term basis.
An individual authorized to act on behalf of the LCSC department or club should email their request to
[email protected] at least two business days prior to the date needed – including the department/club name, reason
for request, pickup date and the amount needed including breakdown by denomination. The cash box agreement form
will be sent to the requester via email and should be signed by an authorized signer for that cost center. The cash box
and original dollar amount borrowed should be returned to the Cashier’s Window at the agreed upon date/time. Cash
boxes must be kept in a secured location at all times that is only accessible by authorized individuals.
CHANGE FUNDS
Change Funds are intended to provide cash to facilitate making change on a long-term basis. Change Funds must be
kept in a secured location at all times that is only accessible by authorized individuals. Please inquire with the CO at
(208) 792-2351 or c[email protected] for more information.
PETTY CASH
Petty cash is intended for departments with a need to purchase small quantities of supplies or other materials in order
to meet an immediate academic or administrative need. Petty cash funds must be kept separate from all other funds
in a secure location that is only accessible by authorized individuals. Please inquire with the CO at (208) 792-2351 or
[email protected] for more information.
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CONTACT INFORMATION
Please contact the TMT with any questions or concerns regarding any of the information provided in this guide.
Name
Title
Phone
Email
Questions Regarding
Lauren Grijalva
Lead Treasury Specialist
208-792-2351
Merchant Services, Raffles, General
Cashier
Kelsie Seitz
Treasury Specialist
208-792-2351
Banking, Sales Tax, General
Cashier
Teresa Cole
Controller
208-792-2335
Policy Changes or Exceptions
