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Cash Handling Policy - Associated Students, Inc.
The Associated Students, Inc. is the official student voice of California State University, Dominguez Hills
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Cash Handling Policy

Associated Students, Inc. collects cash and checks as part of its normal business activities through established procedures to ensure proper handling and security of funds.  Cash is collected for student club/organization deposits and scheduled ASI programs. The ASI Children’s Center accepts checks and cash for parent fees.




Cash Box

Associated Students, Inc. utilizes a separate cash box for each service or event to ensure funds are properly documented and accounted for.  Receipts for each transaction are issued to the customer, with a carbon copy remaining in the cash box.  Services are regularly reconciled and programs are reconciled at the end of the registration period.



Associated Students, Inc. utilizes a combination locked safe for all monies (cash and checks) collected.  Executive Director will maintain a list of all authorized personnel with access to the safe’s combination. A safe’s combination must be changed whenever a person who knows the combination leaves employment.



 Individuals that hold sensitive positions and all employees handling cash and cash equivalents are subject to background checks.




Receiving Checks Procedures:

  • The Front Desk Coordinator records checks on check log and gives to the Finance

Manager to match check with invoice

  • Checks stamped with the bank endorsement stamp (“For Deposit Only”) on the back of the check by the ASI Finance Manager (FM) or CDC Manager as the mail is opened.
  • Finance Manager attaches backup to check and prepares deposit memo to be signed by Executive Director (ED).

Checks/Cash that are dropped off in person:

  • The Front Desk Assistants or CDC Manager writes out a receipt to the bearer of the check/cash and gives to FM to match payment with invoice
  • FM attaches backup to check and prepares deposit memo to be signed by ED.

Daily Depositing Procedures:

FM verifies amount of cash or check amount for the various deposits:

–     If deposit is from a revenue generating area (Ticket Sales):

  • The amount is balanced against the ticket log of sales (ticket sales).

–     If deposit is from Accounts Payable (generated invoice)

  • Front Desk Coordinator logs in check as “received”
  • FM matches check to office copy of the invoice and indicates on the invoice log that the invoice has been paid. FM also stamps the invoice as “paid.”
  • FM passes the “paid” invoice and prepares deposit memo to be signed by ED.

–     Non-Invoiced deposits (sponsored programs)

  • Front Desk Coordinator logs in check as “received”
  • Manager of Programs attaches any back up paperwork to check and passes to FM
  • FM verifies check with check log and prepares deposit memo to be signed by ED

Deposit Memo Procedures:

Deposits are taken to University Cashier two times per week or when the cash level deposited exceeds $500.00.

  • FM writes up a Deposit Memo recording the deposit and attaches the money
  • FM makes a copy of the Deposit Memo for the office’s files. If the Deposit Memo is prepared, but cannot be transferred to the University Cashier immediately, it is placed into the locked safe until such time the deposit can be transferred.
  • FM takes original Deposit Memo and deposits to the University Cashier which verifies amount of money for each Deposit Memo and writes up a cash receipt
  • FM attaches original receipt to copy of Deposit Memo for office files, deposit is recorded in ASI electronic spreadsheet
  • FM hand delivers and obtains signature of receipt copy of deposit memo, with copy of receipt, to University Accounting to ensure it is appropriately recorded in the proper ASI trust account.

Receiving & Depositing Funds with CSUDH Foundation (Student Clubs and Organizations):

  • Student clubs and organizations shall be accountable for the collection and deposit of cash and checks received
  • An official ASI receipt shall be recorded for each collection using a pre-numbered receipt book or a daily receiving log in circumstances where it is not practical to use a receipt book. The cash receipt and daily receiving log must signed by an authorized signor.
  • ASI and CSUDH Foundation maintain current signature cards for each registered student club and organization with names and specimen signatures for authorized student and advisor signors.
  • Upon receipt of a check the FM shall endorse the back of the check “For Deposit Only”
  • FM will take student club and organization deposits to CSUDH Foundation.
  • Upon receipt of deposit from the ASI Finance Manager the CSUDH Foundation will issue an official receipt.
  • At no time shall student clubs and organizations accept credit or debit cards.
  • Deposits must be taken to the ASI business office within a week (five business days) of receipt or daily if accumulated cash is greater than $300 or if total of check is greater than $2000.
  • Student clubs and organization shall keep cash and/or checks in a secure location at all times.


Segregation of Cash Handling Duties:

Segregation of duties must be maintained when cash is received and no single person should have complete control. If departments or student clubs and organizations are unable to comply with the following requirements due to lack of resources, mitigating controls must be implemented to prevent and detect loss from fraud or negligence.

  • Cash handling activities require daily supervision
  • The storage and inventory of blank receipt stock must be handled by someone other than the cash handler
  • Deposit counts must be verified by a second person.
  • The person receiving cash, issuing cash receipt, and preparing deposit should not be the same person who performs reconciliation, enters journal entries and reviews financial statements and activities.

Transporting deposits between cash handling stations or the University Cashier should be accomplished in a secure manner in order to protect the financial assets and individuals involved in transportation:

  • When deposits exceed $500 in cash, transport of deposits shall be accomplished jointly by at least two employees
  • When deposits exceed $2,500 in cash, employees must be escorted by campus police.


Suspense and Uncleared Collections:

Payments received in any ASI program or office which is not immediately associated with the appropriate deposit code will be directed to the ED.  The ED will deposit such items immediately (following the steps outlined above) into ASI’s general revenue detail code and keep a copy of the deposit item and cash receipt.  At such time the appropriate disposition of the deposit is identified, the item would be then transferred to the proper code or refunded out of the system.




Scheduled Activities:

  • Cash is collected from the customer and the transaction is entered into the cash log for the event.
  • The cash is placed in the cash box and a receipt is given to the customer.
  • A log is kept of each registration/item sold and the corresponding amount of the transaction to assist with the cash log.
  • The corresponding cash transactions for each registration/item must match the amount of each registration/item recorded and its corresponding amount on the log.


The term “Finance Manager” refers to the person in ASI who has responsibility for the financial activities of the business office.  Other titles may be used for this position. The term “Executive Director” refers to the employee in ASI who has overall responsibility for all activities of the corporation.  Other titles may be used for this position.


Approved and Adopted September 29, 2017 by ASI Rules Policies and Procedures Committee