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Download a  from the Office of the University Controller. The completed form must accompany all deposits to OCM. Verify that the completed CR is in balance (e.g., line items equal total CR, verify cash, checks and credit cards fields) before submitting CR to OCM.

Run a calculator tape of checks being deposited. Compare total of checks and currency and the total of the amounts listed on the CR. A CR cannot be processed unless it is complete and in balance. If the CR is incomplete, has problems with chart of account combination or discrepancies in line items and CR total, a member of OCM staff will contact the department’s phone number listed on the CR. If you receive a message from OCM regarding a CR problem, return the call immediately.

• Limit deposit to 50 checks per CR.
• You may use multiple speedtypes/accounts on the same cash receipt.
• Condense multiple checks to one line (e.g., graduate application fees) rather than list each check separately.
• Do not include social security numbers or credit card numbers on the CR. These are not secured forms.

Checks and cash may be deposited on the same form. Cash must be verified between the cashier and the department runner. If the amount of cash received does not match the amount of cash on the CR, OCM will not accept the deposit. Include a calculator tape of the checks submitted with deposit. OCM will verify the amount of the checks at time of deposit. If the dollar amount of checks received does not match the amount listed on the form, OCM will call the department’s phone number listed on the CR and assist the department with bringing the CR into balance.

If your department sends cash and checks directly to the university’s bank via armored courier, complete and submit a CR to OCM as you would for cash and checks. Include a copy of the deposit slip with the CR. Verify that the deposit slip matches the total of the CR before submitting it to OCM.

Electronic credit card payments must be on a cash receipt separate from all other tenders (e.g., cash, checks, wire transfers, etc.). Do not submit reports that contain individual credit card numbers with the CR. This is personally identifiable information, and you should keep it in your department in a secure place. The total amount of the cash receipt should be the same as the total on your detail batch report after you have closed out the credit card machine for the day. This batch total is the only amount that OCM will see when approving the cash receipt for processing.

If, for your own record keeping purposes, you prefer to have each customer on a separate cash receipt, please indicate which cash receipt belongs with which batch total. Note these individualized cash receipts will not be processed unless we have all of the cash receipts belonging to a daily batch total.

OCM processes credit card cash receipts after we have verified the amount has been received in the university’s bank account. For this reason, it is better for departments to submit separate CR for Visa/MasterCard, Â鶹ÊÓƵ and American Express payments. Visa/MasterCard pays in 1–2 days. Â鶹ÊÓƵ pays in 2–3 days. American Express pays in 4–6 days. Your Visa/MasterCard payments will be reflected in your PeopleSoft account faster if they are separated from Â鶹ÊÓƵ and/or American Express payments. The cash receipt might not be entered by the month-end cutoff if the payments are combined.

For further assistance with completing the CR (see cash receipt) call Franchette McCurley, 2-0348. For help with understanding the CR information appearing on the monthly financial statements, email OCM at cashmgmt@colorado.edu.

Wire transfers and international items must be submitted on a CR separate from cash, checks or credit cards. Departments who are expecting a wire transfer or ACH payment should submit a CR to OCM immediately. Include identifying information on the CR (e.g., invoice numbers, originating person/business/agency/country). OCM will contact the department if a transaction fee has been deducted from the total.

Checks that are not payable on a United States bank are international items. Some campus departments receive international checks in payment for goods or services. International items should be deposited separately from other checks (see foreign checks). Leave the amount field on the CR blank. OCM will fill in the amount field when we receive notification of the amount received by the university’s bank. The amount received is determined at the time of deposit and is subject to fluctuating exchange rates, which may be different from published exchange rates.

A cash exchange/change request form is required when exchanging cash with the Office of Cash Management (OCM). You may pick up pre-printed forms at OCM. Submit completed slip to cashier at the time of request to expedite transaction and assure accuracy of the cash exchange.

Authorized change funds should be established in order to provide change for cash receipts. Do not withhold part of the days’ receipts to create an additional change fund or a petty cash fund. Change funds may be issued on either a temporary basis (for a specific activity or event) or on a permanent basis (for ongoing departmental business). Unauthorized change funds are not permitted.

For procedures on proper use, requesting and maintaining a change fund, see The Guide, Chapter 10, Section 7. 

Document refunds with receipts, which include the customer’s signature, date of the transaction, reason for the refund and the employee’s signature who made the refund. Full documentation needs to be made whenever refunds are disbursed from the cash drawer. One practice to consider is requiring a counter signature approval from a supervisor for refunds exceeding a set amount.

A petty cash fund is an amount of money issued to a department to be used on a revolving basis for the payment of small and incidental expenses. The custodian of the petty cash fund is responsible of securing the cash holdings. The petty cash fund can be used to make purchases as an exception to the formal procurement methods. The procurement card is the preferred method of making small dollar purchases.

Petty cash funds are generally limited to up to $500 per department. Departments should make every effort to identify vendors that will be dealt with frequently and standing orders with those vendors should be set up through the Procurement Service Center (PSC). See The Guide for more information regarding the use, requests, control, reimbursement, return or reduction, increasing, changing, canceling and theft of petty cash funds.

The Office of Cash Management (OCM) does not cash personal or payroll checks for individuals. As a service to university departments, OCM will cash petty cash checks. Valid employee ID is required. If someone other than the payee is cashing the petty cash check an ID must be presented along with a letter of release from the payee.