WNMU adopts as its policy the New Mexico State Statute, Section 6-10-2 NMSA 1978 Compilations that requires the deposit of public monies within twenty-four (24) hours, or one business day, of receiving the monies. In order to comply with this regulation, WNMU requires the following from its ON and OFF Campus Sites:

*NO remote sites, either On or Off Campus may collect cash in any form without PRIOR approval from the Director of Fiscal Services (or designee). This requirement will enable the Business Office to assess the need for such collections and to review the Cash Policy Procedures with the entity should the remote site cash collection be warranted.

*Requests for an On Campus cash box must be pre-approved by the Director of Fiscal Services or designee. If a cash box is approved for weekend or holiday use, ALL monies must be deposited back to the Business Office within 24 hours or the NEXT WORKING BUSINESS DAY. All other monies received in remote areas must also be deposited within 24 hours or next available business day to the Business Office. Cash is the responsibility of the holder at all times and must be kept in a secure, fire-proof environment (locked cash box, safe, or vault).

*ALL remote site locations (both On and Off campus) must use prenumbered receipt books to record the collection of monies. A copy of the receipt should be given to the customer and a copy must be retained in the receipt book for university records. For On Campus sites, the dated Business Office receipt (received after monies are deposited) should be attached to the last appropriate receipt in the receipt book. Any cash “shortage” or “overage” will be noted on the receipt. A special account number will be provided for cash shortages and overages. This account number will be available at interim or year-end for review by the various remote site locations. The accountability for these records is the responsibility of the remote site location. Records should easily be made accessible to either internal or external auditors upon request.

*All Off site remote locations will deposit monies on a daily basis to pre-establish bank accounts. As needed, these monies will be transferred into the University’s regular operating account by Business Office personnel upon receipt of supporting documentation.

Approved by: Policy Committee
Date: February 7, 2000