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Controller's Office

Cash and Treasury Services Policies and Procedures

  • Accounts Receivable Billing and Monitoring

    Policy
    Effective: June 1, 2008
    Revised: October 31, 2018

    Clemson University will collect payment for goods and services in a timely manner. University departments that extend credit by invoicing will use the University’s billing and accounts receivable system or another preapproved billing and accounts receivable system to allow prompt collection and accurate reporting of the University’s accounts receivable transactions. Invoices should be entered into the system in a timely manner.

    Discussion
    The Accounts Receivable office of the Office of Accounting Services is responsible for monitoring, processing and recording the collection of all payments due the University for goods or services rendered by departments. The billing processes of all departments that extend credit are subject to the review and approval of the chief financial officer or his designee through Accounting Services.

    All approved departments must use the CUBS Web invoice as a standard invoice. Attachments may be included with the standard invoice and should be indicated in the description of charges as deemed appropriate by the billing department.

    No invoices for amounts less than $10 should be issued. Departments with charges less than the minimum amount should require payment at the time the goods/services are provided, create a minimum order amount or accumulate charges for a specific customer until the minimum amount is reached.

    Interdepartmental invoicing through the receivable process is not advised. All interdepartmental transactions resulting from providing goods and services to University departments should be processed by interdepartmental orders (IDO).

    At the department’s request, invoices older than 110 days may be placed with a state-approved outside collection agency. When an account is deemed uncollectible, approval to write off the outstanding debt must be obtained from the controller or associate controller. This will be coordinated by the Accounts Receivable office after all normal collection actions have been taken. Departments will be notified by Accounts Receivable of all pending write-offs. Upon execution, the write-off will offset previously accrued departmental revenues associated with the uncollectible invoices.

    High-volume departments with established subsystems may be authorized by the chief financial officer or his designee through Accounting Services to process and collect their own invoices. However, these departments will provide a quarterly summary (as of September 30, December 31, March 31 and June 30) of aged accounts receivable and a report on collection efforts for past due accounts to the University's Accounts Receivable office. These departments must follow the same general collection procedures that are followed by Accounts Receivable. Invoices that are written off must have department head/manager approval, with proper documentation that shows where collection efforts were made. All invoices written off within the quarter must be sent to the Accounts Receivable office as a part of the quarterly aging report. Any invoices that are sent to collections must be placed with a state-approved outside collection agency.

    The University Accounts Receivable office will periodically monitor departmental accounts receivable processes to ensure the prompt collection of payments, accurate accounts receivable reporting and adherence to University policies and procedures.

    Procedure
    Effective: March 1, 2003
    Revised: October 30, 2018
    Requirements for Invoicing External Customers
    All Clemson University departments are required to receive approval prior to extending credit of the University through the invoicing process. Approval must be obtained whether the department intends to invoice through the Accounts Receivable office or within its own department. Departments intending to invoice external customers are required to submit a Department Approval Form to the Accounts Receivable office. The form must be signed by the department head or dean and mailed/interoffice/emailed along with any attachments to the following address:

    Accounts Receivable
    391 College Ave., Suite 302
    Clemson, SC 29634

    The Accounts Receivable office will review all submitted approval forms and either approve or deny the request. Each department will be notified once their request has been processed.

    Billing Procedures
    Once authorization has been received, departmental billing personnel must receive training for invoicing on the University's web invoice system before bills can be created. All invoices must be created using the CUBS web invoice.

    When an invoice is finalized, departmental personnel will be responsible for printing and mailing the invoice along with all necessary attachments in a timely manner. Invoices are due upon receipt. Aging for all invoices begins at the time the invoice is submitted for processing. An automatic accounting entry crediting the appropriate revenue account and debiting the department’s accounts receivable account will be posted as a BI journal at that time. Back-up and supporting documentation of the invoice must be retained in the billing department for reconciliation purposes.

    Departments will not extend credit/invoice customers with outstanding charges over 60 days old. Monthly aging reports will be available for departmental monitoring of outstanding accounts receivable through the Business Data Warehouse.

    The Department of Grants and Contracts Administration is responsible for invoicing all externally funded sponsored projects. Special approval by Grants and Contracts Administration is required for departments to bill Fund 20 projects. If a department is approved to invoice Fund 20 projects, they must use the CUBS web invoice and/or have an approved interface with CUBS.

    Receipt of Payments
    All invoice payments will be processed through the Accounts Receivable office.

    Payments received by departments that are for an account recorded as a receivable must be forwarded immediately to the Accounts Receivable office for processing. An entry crediting the billing department's accounts receivable account will be posted when the payment is received. Invoice payments may be monitored by using system-generated daily payment reports through the Business Data Warehouse.

    Corrections to Invoices
    Every effort should be made by the billing department to ensure invoices are correct before they are finalized. Any correction/adjustment to the bill amount must be made in writing to the Accounts Receivable office by completing the Invoice/Void/Adjust/Write-Off form within PeopleSoft Finance. Once approval is received, Accounts Receivable will make the necessary correcting accounting entries. These entries will be reflected on the billing department’s monthly revenue report and must be included in monthly revenue reconciliations.

    Collections Procedures
    If a receivable is not paid within 30 days, the University’s Accounts Receivable office will send a reminder letter to the customer. If the account remains outstanding after 60 days, the Accounts Receivable office will send a second letter informing the customer of the past-due status. A third letter will be sent for accounts outstanding 90 days or more informing the customer that if payment is not received within 20 days, the account may be placed with a state-approved outside collection agency where they may incur collection charges of up to 33.33 percent. Letters are system generated and will be sent on all past-due accounts unless the item is in dispute or with an outside collection agency.

    Departments will be notified of any invoices older than 90 days that were not paid within the 20-day period following final notices being mailed. It then becomes the department’s responsibility to request that the account be written off or sent to a collection agency. If no response is received by the department after the invoice reaches 270 days old, it may be deemed uncollectible and be written off. Departments will be notified in writing by the Accounts Receivable office when a write-off is going to take place.

    If debts are not collected by the collection agency, they will be submitted to the controller or associate controller for write-off approval. Any remaining balance of all accounts sent to a collection agency may be written off if no payments are received within a 90-day period. Accounts Receivable will make the necessary accounting entries to CUBS for the write-off and notify the department. A debit to the department’s original revenue account and a credit to the department’s accounts receivable account will be posted. Write-offs will be reflected in the billing department’s monthly revenue report and must be included in the monthly reconciliation of revenue.

    The Accounts Receivable office also sends past-due letters on behalf of the Grants and Contracts Administration. Letters are sent at the standard interval of 30-60-90 days for nonfederal-sponsored research projects and an interval of 60-90-120 days for federal projects. Collection actions are conducted in accordance with the project agreement and are dependent on the sponsor (customer) and previous payment history.

    In general, collections proceed as follows:

    • After 60 days, Grants and Contracts Administration will notify the appropriate principal investigator (PI), department chair, college contact and associate dean of research (ADR) regarding nonpayment.
    • After 90 days, Grants and Contracts Administration staff will notify the department chair, college contact, associate dean of research (ADR), the vice president of research (VPR) and Accounts Receivable office and coordinate appropriate action, e.g., suspend work, suspend PI’s and/or department’s indirect return or other course of action. Grants and Contracts Administration will continue to coordinate with the college, PI and the sponsor for past-due payments.
    • After 180 days, Grants and Contracts Administration staff will send a final notification as indicated for the 90 days and note that in 30 days, the invoice will be deemed uncollectible, and the department/college will be responsible for the debt. The department/college will notify Accounts Receivable of the chart field that will cover the debt.
    • Grants and Contracts Administration will distribute an aging report to the ADRs on a monthly basis.

    If deemed uncollectible, corrections or a transfer journal will be required in coordination with Grants and Contracts staff and Accounts Receivable office. The invoice will be submitted to the controller or associate controller for approval to be written off.

    Departments Authorized to Invoice and Receive Payments
    High-volume departments with established subsystems may be authorized by the chief financial officer or his designee through the Accounts Office to process and collect their own invoices. However, these departments will provide a quarterly summary of aged accounts receivable and a report on collection efforts for past due accounts to the Accounts Receivable office. This report must accurately reflect the department’s outstanding receivables. Failure to comply with certification requirements will result in decertification. These departments must follow the same general collection and aging procedures that are followed by the Accounts Receivable. Invoices may not be written off without prior approval from the controller. Invoices that are written off must have department head/manager approval with proper documentation that shows where collection efforts were made. All invoices written off within the quarter must be sent to the Accounts Receivable office as part of the quarterly aging report. Any invoices that are sent to collections must be placed with a state-approved outside collection agency.

    The Accounts Receivable office will periodically monitor departmental accounts receivable processes to ensure the prompt collection of payments, accurate accounts receivable reporting and adherence to University policies and procedures.

    Departments certified to process and collect invoices will also be responsible for making entries in CUBS, crediting the appropriate revenue account(s) in accordance with the University's Receipting Policy.

  • Change Funds

    Policy
    Effective: December 1, 2011

    Clemson University makes change funds available as an advance to authorized cash handling units for the purpose of making change for currency sales and/or services. The change fund is only to be used for making change in cashiering operations.

    Discussion
    Cash and Treasury Services must approve departmental change funds and custodians before they can be established. Each department is responsible for designating a custodian that is responsible for the safekeeping of the fund and for its proper usage. Cash and Treasury Services must be notified and approve any time there is a change of custodian.

    The change fund must be balanced on a daily basis. Any overages discovered during the balancing process must be deposited with Cash and Treasury Services. Any shortages beyond the control of the custodian will be repaid by the department using available operating funds. Shortages must be fully documented in writing.

    The change fund must be reviewed annually.

    Certain restrictions as to the use of change funds have been established by the University. Change funds are to be used solely for making change in cashiering operations. The change fund cannot be used for any other purpose, including advances or expenditures. Mishandling of change funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

    Procedure
    Request and Authorization
    Any department wishing to establish a change fund must submit a Request for New Fund Form to Cash and Treasury Services. The fund must first be approved by your business officer. The request should state the reason(s) the fund is required and the amount needed for daily operations. A custodian for the fund must be designated in the written request. 

    Custodian Responsibilities  
    The custodian of the fund is fully responsible for the safekeeping of the fund and for its proper usage. The custodian must exercise caution in the administration and protection of the fund in his/her possession.  

    1. Access to the fund should be limited to the change fund custodian.
    2. The fund should be locked in an office safe or file safe or secured in a location that can only be accessed by combination or key. The key should be kept in the custodian’s possession. At no time should the funds be left in unlocked desk drawers or cabinets. Funds should not be retained in desk drawers or standard file cabinets since they are easily accessed with minimal forcing or readily available keys.
    3. Change funds must not be commingled with any other funds or used for any purposes other than those listed in this policy document.
    4. Any discrepancies in the fund are the responsibility of the custodian and the departmental administration.
    5. It is the responsibility of the custodian to follow current University policies and procedures in maintaining the change fund.

    Procedure to Change Custodian 
    If the fund custodian at any time needs to be changed due to a job transfer, termination of employment at Clemson University or any other reason, it is necessary to transfer the fund to a new custodian with the Change Fund Form. The fund should be counted and reconciled by the current custodian and then turned over to the new custodian. The new custodian should acknowledge receipt of the fund by signing a form documenting the transfer of funds and the accompanying responsibility. The completed form should be sent to Cash and Treasury Services. 

    Overages and Shortages
    The fund should be reconciled on a weekly basis, and any overages in the fund must be deposited with Cash and Treasury Services. Shortages in the fund beyond the control of the custodian are to be repaid using the department's operating funds. Shortages must be fully documented in writing.

    Theft or Loss of Funds
    If burglary or theft is suspected, the Clemson University Police Department should be notified immediately after discovery.

    To Close a Fund
    If a unit ceases to be an authorized cash collection unit, any change funds must be deposited by processing a web deposit in TouchNet to the chart string that was debited when the change fund was established, and a Change Fund Form must be submitted to Cash and Treasury Services.

    To Decrease a Fund
    If the change fund balance becomes too high for the needs of a department, it is the custodian’s responsibility to decrease the fund, and a Change Fund Form must be submitted to Cash and Treasury Services. The decrease in the fund must be deposited by processing a web deposit in TouchNet, which should contain a description including the fund total, the amount of the reduction and the fund custodian’s name.

  • Incentive Cards

    Incentive Card Order Process


    Policy
    Effective: January 1, 2014
    Revised: May 14, 2024

    1. Overview
      Incentive cards may be used as a tool to meet the business purposes of the University. They can be used to support research study subjects and for awards or prizes to support student activities. As cash-equivalent instruments, incentive cards are governed by internal control requirements and may be subject to tax reporting. They must be distributed in accordance with the guidelines set forth in this policy.
    2. Policy General
      Incentive cards must be purchased through buyWay$ from the Blackhawk Network. (Exemptions may be available in situations in which external funding predated this policy or required purchases cannot be accommodated by the Blackhawk Network.) Personal reimbursements and direct purchases outside of the established buyWay$ process are not allowed. Incentive cards must only be requested when disbursement of such funds is expected to occur within 90 days from the time the cards are received. If the project or need to distribute continues beyond that time frame, multiple incentive requests must be made to provide for a reasonable and timely accounting of funds.
      1. Research Subjects: An incentive may be offered to research subjects, provided it was included as part of the grant award and Institutional Review Board (IRB) approval was obtained. This policy is intended to provide guidance as to the appropriate acquisition and distribution of research subject incentives.
      2. Non-Research Subjects: It is also common, based on the specific mission and goals of specific areas of the University, to utilize incentives to encourage or award individuals for participating in certain events. Unlike with research subjects, these incentives are not bound by grant awards and IRB approval. This policy is intended to provide guidance as to the appropriate acquisition and distribution of non-research subject incentives.

    III. Allowable Uses and Limits
    Incentive cards may only be distributed for the following purposes:

    1. Incentive for research subjects in studies approved by the University’s Institutional Review Board (IRB).
    2. Prizes, recognition awards or tokens of appreciation for students.
    3. Prizes, recognition awards or honorarium for volunteers or visitors.
    4. Incentive for employees participating as a volunteer in a research study or event unrelated to their job.

    Individual incentive cards should be valued at $100 or less. They cannot be used as a bonus, awards, honoraria or other means of compensation to employees. These payments must be processed through the payroll system. If there is any question about a particular situation, please consult with the Office of Human Resources.

    Ensuring proper controls is important in the use of incentive cards, and IRS reporting is critical in compliance with IRS and federal reporting requirements. For any individual that is disbursed $600 or more in a calendar year, the department’s responsible person must follow the steps identified in section E.2 of the Related Procedure to ensure the proper tax treatment is performed by Clemson University.

    IV. Internal Controls
    Incentive cards must be safeguarded at all times and accounted for as if they were cash. The person accountable has primary responsibility for safekeeping, maintenance and proper usage and for advising faculty, staff or students of proper handling policy and procedure. For grants, the principal investigator (PI) must maintain all records regarding the research subjects.

    The following controls are required at a minimum:

    1. Custody: The person accountable holds custody over the cards and should always know where they are located. Custody may be transferred temporarily from the person accountable to other departmental personnel for disbursement purposes, but the person accountable still holds primary responsibility for the safekeeping of the cards.
    2. Physical Access: Incentive cards must be secured at all times (e.g., in a locked box in a locked cabinet or drawer) with limited access. They must not be taken home for safekeeping.

     V. Lost Cards

    1. The person accountable will be held liable for any incentive cards in their possession that are lost or misplaced. Any shortage must be reported immediately to their business officer. The business officer will then notify the Office of Internal Auditing. Depending on the circumstances, punitive action, including loss of ordering privileges, termination and prosecution could result.

    VI. Definitions

    1. Incentive card: A stored-value or similar instrument issued in lieu of cash or check. For purposes of this policy, “incentive card” includes gift certificates, cash cards, and online e-incentive cards (e-cards).
    2. Person accountable: The faculty or staff member in the department disbursing the incentive cards that is responsible for the documentation, internal control and other requirements of this policy. For research purposes, the person accountable is the principal investigator (PI).
    3. Research subject: An individual with whom an investigator conducts research and obtains data through intervention or interaction with the individual.

    V. Contact Information

    Safekeeping of Cards: Cash and Treasury Services
    Order Cards and Tax Reporting: Procurement and Business ServicesResearch Reporting: Internal Review Board

    Procedure

    A. General Procedure
    Incentive cards must be purchased through buyWay$ from the Blackhawk Network. (Exemptions may be available in situations in which external funding predated this policy or required purchases cannot be accommodated by the Blackhawk Network.)

    Advanced planning by the person accountable is necessary to ensure that no more than a 90-day card supply should be ordered. If the project continues beyond that time frame, multiple incentive requests must be made to provide for a reasonable and timely accounting of funds. Accountability for the cards will be required by providing a list of recipients or research subjects within a 90-day period.

    Unused incentive cards cannot be returned to the supplier. The person accountable should contact their business officer if there are any remaining cards left over at the end of the project. If charged to a sponsored project (Fund 20), the business officer will process a journal to move the expenditure off the project and to a college/departmental chart field string for appropriate documented use. Departments must maintain internal controls over the cards and continue to document their use until they have all been expended.

    B. Incentive Card Procedure

    1. Research Subject Incentive Card Request
      The following items are required to be included as an internal attachment to the buyWay$ requisition to successfully place an incentive card order. A person accountable must sign all forms submitted.

    To allow time for shipping, cards should be ordered three to four business days before they are needed. The appropriate account code to use for research incentive cards on most sponsored research projects is 7312 (Incentive Cards). In cases where projects have participant support costs (PARTSP) specifically budgeted for research participants, the account code is 7550 (Part Supp Incentive Cards). If you are unsure of which account code to use, please check with your college post-award contact.

    1. Non-Research Subject Incentive Card Request
      The following item is required to be included as an internal attachment to the buyWay$ requisition to successfully place an incentive card order. A person accountable must sign all forms submitted.

    To allow time for shipping, incentive cards should be ordered three to four business days before they are needed. The appropriate account code to use for non-research incentive cards is 7312.

    C. Incentive Card Restrictions

    Clemson University has established certain restrictions as to the use of incentive cards.

    • Under no circumstances are research incentive cards to be purchased for a purpose other than paying research subjects participating in an approved study outlined in the IRB approval letter.
    • An employee is not allowed to receive incentive cards for research incentive participation related to their job.
    • Incentive cards are not returnable to the supplier. All sales are final.
    • Incentive cards should not be acquired for the purpose of making routine purchases for business needs

    D. Subject Payment

    An Incentive Card Distribution Log must be maintained by the department for which the study was performed. For non-research, this is the department that disbursed the incentive cards. A copy of the completed distribution log must also be attached to the requisition/purchase order in buyWay$ within 15 days of disbursement of all incentive cards, completion of the study/activity or by January 15 if the study/activity exceeds one calendar year. If any individual received $600 or more in incentive cards during the calendar year, section E.2 below also applies. When necessary, the log will maintain subject confidentiality by the use of identifiers. Due to the nature of the data collected on the Incentive Card Distribution Log, it must be treated as confidential information. Failure to provide adequate documentation and adhere to this policy will jeopardize the researcher’s/requestor’s ability to use incentive cards in the future.

    E. Tax Reporting
    1. University Employee
      The IRS considers incentive cards to be tax reportable as compensation when issued or awarded to the recipient, regardless of value. The value of the incentive cards will be included on the employee’s annual W-2 in taxable income. (Note: This may not apply if the employee is participating in research dissimilar to their normal job functions or does not meet the $600 threshold.) It is the duty of the person accountable to make the employee aware of the tax implications of the incentive.
    2. Nonemployee
      For subjects or individuals who receive incentive cards over $600 on a single or cumulative basis during a single calendar year, the total of the cards will be reported to the IRS via Form 1099. The subject’s name, address, Social Security number, date of payment and payment amount must be hand delivered to Procurement and Business Services, 391 College Ave., Suite 203, Clemson, SC 29631 no later than January 15 of the subsequent calendar year. All personal identifying information should be kept secure and should not be emailed or sent via interoffice mail.

     F. Inventory
    Responsible personnel holding more than one card must perform physical inventory on cards yet to be distributed, at least on a weekly basis. Incentive cards remaining after 90 days must continue to be inventoried on a weekly basis. Inventory must be performed by someone other than the person accountable but in the presence of the person accountable. Both employees must sign off on the inventory log each month and maintain the record for auditing purposes. Any discrepancies must be reported immediately to the appropriate business officer.

  • Payment Cardholder Data Processing and Handling

    Policy
    Effective: January 10, 2015
    Revised: April 1, 2016

    Clemson University must take all appropriate measures to secure cardholder data when accepting credit card payments to the University. Credit card transactions have become the preferred method for making payments to the University. All departments that accept American Express, Discover, MasterCard and Visa payments are required to comply with the Payment Card Industry Data Security Standards (PCI-DSS). To comply with PCI-DSS, employees who work directly with cardholder data are required to review this policy and associated PCI training materials on an annual basis.

    Definition
    Cardholder data elements include:

    • Cardholder name.
    • Primary account number.
    • Expiration date.
    • Service code.

    Procedures
    Effective: 1/10/15
    Revised: 10/9/18

    Cardholder Access

    • All merchants must be authorized by Cash and Treasury Services.
    • University employees must be trained in the proper handling of credit card information. Individuals who are new to the role must be trained in PCI-DSS Compliance prior to processing cardholder data.
    • Access to cardholder data must be restricted appropriately based on job function.
    • This policy must be reviewed by authorized individuals annually through the Tiger Training System.

    Transmission of Cardholder Data

    • Cardholder data must not be transmitted in an unsecured manner, e.g., unencrypted email, electronic messaging, public fax machines and inter-office mail.

    Storage of Cardholder Data

    • Do not store cardholder data in electronic format. Electronic formats include files on computers, smartphones, flash drives and other similar devices.
    • Do not store cardholder data in paper format. Once the cardholder information has been processed, destroy it with a crosscut shredder.

    Telephone Payments — Cardholder-Not-Present Transactions

    The use of a point-of-sale device will not be permitted to process cardholder-not-present transactions. Please contact Cash and Treasury Services to transition to a TouchNet MarketPlace Online Store.

    Fax Payments

    The use of a point-of-sale device will not be permitted to process cardholder-not-present transactions. Please contact Cash and Treasury Services to transition to a TouchNet MarketPlace Online Store.

    Card-Present Transactions (Point-of-Sale Device)

    Credit card processing devices must be configured to display only the last four digits of the credit card number on printed receipts.

    • Picture ID required if the card is not signed.
    • Provide receipt to cardholder.
    • Store settlement and merchant copies in a secure area.

    Receipt of Cardholder Information in Email

    • Any unencrypted credit card information received by email will not be processed.
    • The recipient of cardholder data will notify the sender that the transaction cannot be processed. Other acceptable methods for processing the credit card transaction will be offered. An email response template is provided below.

    Retention and Destruction of Cardholder Data

    • Cardholder data will be destroyed once the transaction has been processed. Paper will be crosscut shredded.

    Contacts
    Cathy Freeman
    Cash and Treasury Services
    864-656-0530
    cdorfne@clemson.edu

    Office of Information Security and Privacy
    864-656-7131
    clemson.edu/ccit/help_support/safe_computing/

    Template
    Email response for credit card number received by email:

    Thank you for your recent email regarding payment for _______________.  To protect your credit card information, we cannot accept your payment via email. Email is an insecure means of transmitting cardholder information and/or other sensitive information. Effective October 1, 2015, to protect your credit card information, Clemson University will not accept credit card payments by telephone or fax machine. To complete your credit card transactions, please visit _________________________ to make an online payment.
     
    Before sending the response, delete cardholder data. Delete the original message after replying.

  • Petty Cash Funds

    Policy

    Effective: December 1, 2011

    The University provides for the procurement and payment of services and supplies; however, in certain circumstances, due to the timing and nature of transactions, a petty cash fund may be required. These instances should be extremely rare and limited to special circumstances. The petty cash fund is not to be used to circumvent University procedures and record-keeping in regard to purchases and payments. The fund should be a small amount of currency issued and held by departments to cover payments of day-to-day miscellaneous purchases and postage charges. All departments maintaining petty cash funds should exercise control over their use.

    Discussion
    Departmental petty cash funds and custodian must be approved by Cash and Treasury Services before they can be established or increased. Each department is responsible for designating a custodian that is responsible for the safekeeping, disbursing and balancing of the fund. Cash and Treasury Services must be notified and approve any time there is a change of custodian.

    The custodian must obtain a receipt for each expenditure reimbursed using petty cash funds. In instances where a receipt cannot be obtained, a Petty Cash Voucher must be completed. It is the custodian’s responsibility to replenish the fund on a regular basis and to reconcile and reimburse receipts and Petty Cash Vouchers on a monthly basis. Receipts older than 90 days shall not be reimbursed.

    Any overages in the fund must be deposited with Cash and Treasury Services. Shortages in the fund beyond the control of the custodian are to be repaid using the department's operating funds. Shortages must be fully documented in writing.

    Petty cash funds are to be maintained on an imprest basis, which means the amount of the fund remains constant. Currency and coin plus petty cash receipts in the fund should always equal the authorized amount of the fund. This fund belongs to Clemson University and should be kept on University property at all times. As such, the fund can be subject to surprise count by the Office of Internal Auditing, Cash and Treasury Services and the University’s external auditors during normal business hours. Department supervisors should periodically perform surprise counts on a regular basis.

    Certain restrictions as to the use of petty cash funds have been established by the University. Under no circumstances shall monies be loaned or borrowed from the fund for personal use. The fund may not be used to cash personal checks or to purchase gifts and/or make advances. Mishandling of petty cash funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

    Procedures
    Effective: December 1, 2011

    Establishing or Increasing a Petty Cash Fund
    To open a petty cash fund, a Request for New Fund Form, approved by your business officer, must be submitted for approval to Cash and Treasury Services. To increase a petty cash fund, the Petty Cash Fund Form must be completed and submitted to Cash and Treasury Services.

    1. A custodian for the fund must be appointed and is the party responsible for safekeeping, disbursing and balancing the fund.
    2. Determine the fund amount by estimating expenditures for a two-week period.
    3. Upon completion of the approval process, the customer will be notified by Cash and Treasury Services.

    Custodian Responsibilities
    The custodian of the fund is fully responsible for the safekeeping of the fund and for its proper usage. The custodian must exercise caution in the administration and protection of the fund in his/her possession.  

    1. Access to the fund should be limited to the petty cash custodian.
    2. The fund should be locked in an office safe or file safe or secured in a location that can only be accessed by combination or key. The key should be kept in the custodian’s possession. At no time should the funds be left in unlocked desk drawers or cabinets. Funds should not be retained in desk drawers or standard file cabinets since they are easily accessed with minimal forcing or readily available keys.
    3. Petty cash funds must not be commingled with any other funds or used for any purposes other than those listed in this policy document.
    4. Any discrepancies in the fund are the responsibility of the custodian and the departmental administration.
    5. It is the responsibility of the custodian to follow current University policies and procedures in maintaining the petty cash fund.

    Procedure to Change Custodian
    If the fund custodian at any time needs to be changed due to a job transfer, termination of employment at Clemson University or any other reason, it is necessary to transfer the fund to a new custodian using the Request for New Fund Form. The fund should be counted and reconciled by the current custodian and then turned over to the new custodian. The new custodian should acknowledge receipt of the fund by signing a form documenting the transfer of funds and the accompanying responsibility. The completed form should be sent to Cash and Treasury Services. 

    Petty Cash Fund Accounting

    A receipt or an invoice should be obtained for each expenditure. Receipts should include the date of the purchase, the amount spent and a description of the goods or services purchased. If a receipt is not normally issued, or the expenditure is for such items as bus or train fare, the purchaser must complete and sign a Petty Cash Voucher with appropriate dates, amounts and reasons for expenditure. The custodian will approve and reimburse the purchaser.

    1. No amount over $25 should be reimbursed without a receipt.
    2. Reimbursements should not be made for receipts presented that are older than 90 days.
    3. The employee seeking reimbursement should fill out a Petty Cash Voucher, which will include an explanation of the purchase and be signed and dated.
    4. More than one purchase or payout may be listed on the same Petty Cash Voucher when the account to be charged and the employee being reimbursed remain the same.
    5. Presentation of the approved Petty Cash Voucher to the fund’s custodian will result in reimbursement.
    6. The custodian should make payouts directly to the individual requesting the reimbursement. No payouts should be made to departmental employees for the delivery of currency to another party.

    Petty Cash Fund Replenishments
    Petty cash funds should be replenished on at least a monthly basis. Receipts and Petty Cash Vouchers should be reconciled and reimbursed on a monthly basis. 

    1. Use the Petty Cash Form through Cash and Treasury Services to replenish a fund.
    2. A memorandum should be requested from the University Police Department acknowledging that the theft has been reported and investigated by them —including the incident number and the exact dollar amount — to reimburse a fund for stolen currency. A copy of the memorandum should be attached to the Petty Cash Form as a backup to support the request for reimbursement.

    Overages and Shortages|
    Any overages in the fund must be deposited with Cash and Treasury Services. Shortages in the fund beyond the control of the custodian are to be repaid using the department’s operating funds. Shortages must be fully documented in writing.

    Theft or Loss of Funds
    If burglary or theft is suspected, the University Police Department should be notified immediately after discovery. Please refer to the Petty Cash Fund Replenishments section for information on how to replenish your fund after a theft.

    Verification of Fund by Department
    Petty cash funds will be verified on an annual basis by the department head or a designee. The department head or designee should verify and reconcile the fund. Under no circumstance should the custodian verify the fund.

    To Close a Fund
    If the petty cash fund is no longer needed by the department for the purpose intended, it is the custodian’s responsibility to close the fund. The custodian should first fully reimburse the fund by preparing a Petty Cash Form with payout documentation attached. The fund total is then deposited by processing a web deposit in TouchNet, which includes the CUBS account number assigned when the fund was opened. Both procedures may be performed at the same time. Also, be sure that the web deposit contains the name of the custodian to be relieved of responsibility.

    To Decrease a Fund
    If the petty cash fund balance becomes too high for the needs of a department, it is the custodian’s responsibility to decrease the fund. The same procedure is followed to decrease the fund as the one described above to close a fund. The web deposit description should contain the fund total, the amount of reduction and the fund custodian’s name.

  • Receipts

    Policy
    Effective: July 1, 2001

    Departments must be authorized to receive payments on behalf of Clemson University. Approved departments are responsible for ensuring adequate control procedures are in place to secure the collection and proper receipt of monies.

    All requests for authorization to collect fees must be submitted in writing to Cash and Treasury Services, Clemson Centre, 391 College Ave., Suite 302.

    Responsibility Statement
    Cash and Treasury Services is responsible for establishing and enforcing a reasonable cash receipting policy that will provide the necessary internal controls and accountability of cash receipts. It is the responsibility of the departments authorized to receive payments on behalf of Clemson University to maintain internal controls and accountability of cash receipts. Instances in which it appears that a department is not complying with this policy and procedures will be reported to the appropriate department/division personnel for action. For assistance or any questions about this policy or procedures, please contact Cash and Treasury Services in Clemson Centre, 391 College Ave., Suite 302 or by telephone at 864-656-5601.

    Procedure
    Effective: July 1, 2011
    Revised: August 1, 2018

    Definition: Cash, as referred to throughout this document, includes both currency and coins. Check, as referred to throughout this document, includes both check and money order.

    Adequate Separation of Duties 
    All authorized receipting areas must establish an adequate separation of job responsibilities that adhere to the University Separation of Financial Administrative Duties Policy. Departmental management is responsible for ensuring that the financial administrative duties indicate clear lines of authority and responsibility. These duties are to be segregated so that one individual’s work routinely serves as a compensating check on another’s work. No one individual should have complete control over a financial transaction. Standards for separation of duties shall be implemented to the maximum degree possible. At a minimum, clear lines of authority and responsibility must be established to segregate the various steps of a transaction. Specifically, the person that accepts funds (in person or through the mail) and issues receipts must not prepare the deposit. Additionally, the person preparing the deposit must not reconcile the CUBS account.

    Receipts 
    All authorized receipting areas must use the Clemson Receipting System (CRS) to record all funds received. CRS instructions (PDF) are available for more information. In instances when an employee does not have access to a computer, a paper receipt book purchased from Cash and Treasury Services may be used. Receipt books can be purchased on the Marketplace.

    Departments must record each transaction in the Clemson Receipting System (CRS), a prenumbered receipt book, a cash register or another preapproved receipting method in the presence of the customer or payer. A receipt must be delivered to the payer either electronically or in printed form. When payment is received by mail, a receipt is not returned. When completing a receipt (other than from a cash register), the following information must be recorded on each receipt:

    • Department name.
    • Name of the payer.
    • The date of receipt.
    • The amount of payment.
    • The purpose of payment.
    • The signature of the person receipting monies (when using a receipt book, the CRS system enters the Clemson University user ID).
    • The form of payment (cash, check, credit card).

    Receipt Distribution
    For in-person payments, a copy of the receipt from the CRS system should be either emailed or printed and provided to your customer. When using a paper receipt book, the original receipt is issued to the individual from whom a fee has been collected. Retain one copy of the receipt in the receipt book. If special circumstances require a three-part receipt book, department guidelines will dictate the use of the third copy.

    Voiding a Receipt
    All receipts must always be accounted for. When voiding a receipt in the CRS system, a supervisor must approve the void (see CRS instructions for directions). When voiding a receipt in a receipt book, write VOID and the reason and have a supervisor sign across the face of the original and each copy of the receipt. The original and all copies of the voided receipt will be retained in the receipt book.

    Handling Cash, Check and Credit Card Payments 
    Safeguarding revenue and receipts prior to deposit is the responsibility of the authorized receipting area. All cash, checks and credit card information must be retained in a secure place until the deposit is made. Access to the funds will be restricted to ensure proper accountability of the funds. 

    For proper internal control, only the department head or authorized designee will receive payments on behalf of Clemson University.

    Checks must always be made payable to Clemson University. Checks cannot be made payable to projects, seminars, conferences, clinics or any other such activities. 

    Restrictively endorse (stamp for-deposit only) all checks immediately upon receipt. Authorized receipting areas will be responsible for obtaining a restrictive endorsement stamp stating:

    (YOUR DEPT NAME WILL GO HERE)
    FOR DEPOSIT ONLY
    CLEMSON UNIVERSITY
    DEPOSIT SWEEP ACCOUNT
    (BANK NAME WILL GO HERE)
    (H12 BANK ACCOUNT NUMBER WILL GO HERE)

    The restrictive endorsement serves as protection against lost or stolen items and enables research to be conducted if items are not properly credited or further information is needed.

    Items Received Through Mail 
    If checks are received through the mail, the person opening the mail should record each item in the CRS system. After each item has been recorded in the system, the user may pull a report and pull each item recorded into an Excel spreadsheet and print for a daily log. When a computer is not available, the person opening the mail should prepare a handwritten check log or use a preapproved method of recording the items. The mail log must provide the check date, number, amount and payer and should be maintained on a daily basis. A handwritten receipt or cash register receipt may be used instead of a mail log when checks are received infrequently.

    Cash Register Receipts 
    Receipts generated by a cash register or a computer will contain the following information:

    • Receipt number.
    • Clemson University.
    • Department name.
    • The date of receipt.
    • The amount of payment.
    • Identification of the person receipting monies.
    • The form of payment (cash, check, credit card, money order).

    Record of cash register receipts will be maintained in the same manner as handwritten receipts noted above.

    Procedures for Preparing and Depositing Receipts:
    WARNING: Any person delivering a deposit to Wells Fargo Bank should take adequate precautions for their personal security and safety. Do not send cash through the mail.

    Departments that are authorized as receipting areas must make deposits to Wells Fargo within the times specified below: 

    • Departments receiving cash, money orders and/or checks daily must deposit funds no later than the next business day after the day the funds are received.
    • Departments receiving funds less frequently than daily must deposit funds no later than three business days after the day the funds are received.
    • Departments accepting credit card payments must receipt funds no later than the next business day after the day the funds were received.

    The only exception is in regard to the Accounts Receivable office, which must deposit funds no later than five business days after the funds are received. All instances in which it appears deposits are not being deposited in accordance with the time periods above will be reported to the appropriate department/division personnel for action, and the Office of Internal Auditing will be copied.

    Off-Campus Procedures
    Funds received in off-campus departments must be handled in the same manner noted above regarding issuing receipts or cash register receipts, items received through the mail, timing of deposits, and proper segregation of duties. In addition, all cash received should be handled as indicated below: 

    1. An off-campus department with a departmental bank account will restrictively endorse all checks and deposit funds received into the departmental bank account. A copy of the deposit receipt should be emailed to Cash and Treasury Services at psadeposits@clemson.edu.
    2. An off-campus department that does not have a departmental account but does have access to a Wells Fargo or First Citizens Bank branch should deposit funds directly to Clemson University’s composite bank account. All checks must be restrictively endorsed.
    3. Retain original documents in your department. Deposit slips for the Clemson University composite bank account can be obtained from Cash and Treasury Services.

    ATM Deposit Procedures
    Funds received and deposited with an ATM must be handled in the same manner noted above regarding issuing receipts or cash register receipts, items received through the mail, timing of deposits, and proper segregation of duties. In addition, all cash received should be handled as indicated below:

    1. A department that has a Wells Fargo deposit-only card will make a check or cash deposit in an ATM only after the proper approval process has been completed. The ATM accepts a total of 30 checks and 30 bills during one transaction. Bills and checks must be deposited separately. If you have more than 30 checks and/or 30 bills, you will have to make separate deposits.
    2. Once the deposit has been processed and a valid receipt is given, a web deposit must be entered during the same business day.

    Failure to Receive Funds
    If you run a query and your funds have not been allocated to your revenue chart field string within three to five days from the date of the deposit, notify Cash and Treasury Services at 864-656-5601.

    Deposit Overage or Shortage
    Deposits are always verified by either personnel within Cash and Treasury Services or Wells Fargo Bank. If an overage or shortage exists, you will be notified immediately by Cash and Treasury Services.

    Revenue Detail Report Reconciliations

    Returned Items 
    Checks returned by the bank twice will be charged back to the department that accepted the check. The department and/or individual that made the original deposit will be notified of this adjustment. Departments attempting to collect payment should charge an additional $30 returned check fee. The fee should be charged to account 4755 (service charges). The returned check fee may be waived, at the department’s discretion, in the event checks are lost or stolen.

    For additional return check handling procedures(PDF), download the document.

  • Reconciliations – Revenue Monthly Detail Report

    Policy
    Effective: June 1, 2000
    Revised: August 31, 2002

    Departmental revenue and addition transactions are to be reviewed monthly to help ensure the validity of financial transactions by comparing original documents to the transactions listed on the monthly status reports.

    Based on the Separation of Financial Administrative Duties policy, individuals assigned responsibility for performing these reviews should be independent of the revenue or additional transaction process. Where complete separation of duties and responsibilities is not feasible, the reconciliation should be reviewed and approved. The review and approval of the reconciliation will be the responsibility of the department head or their documented designee.

    Employees should be adequately trained to perform the reconciliation procedures.

    The reconciliation process is to be adequately documented (either in an electronic format or a paper copy) to allow for future review and verification of the reconciliation. Reconciling items should be resolved in a timely manner.

    Guidance
    Effective: June 1, 2000 
    Revised: August 31, 2002

    1. After each month is closed, a notification is sent out when the revenue detail reports are available. Budget centers/departments may distribute these reports to the appropriate independent personnel for reconciliation of the University accounting records to the departments’ source documents.
    2. Ensure that originating documents (i.e., proof of goods or services provided with a related invoice, prenumbered receipt, cash register tapes) exist for each amount that is recorded in the accounting records and the item is posted to the correct chart field for the correct amount.
    3. Inquire about items for which there is documentation (i.e., invoice, prenumbered receipt, bursar's receipt, etc.) but no accounting entry is reflected.
    4. Inquire about items on the revenue detail report for which no documentation exists.
    5. Items that are identified as reconciling items should be cleared or resolved as soon as possible.
    6. Upon completion of the reconciliation, document by indicating, “reconciled by [reconciler’s name] on [date].”
    7. The reconciler should inform a responsible individual (budget center director, department head, etc.) that the reconciliation(s) has been performed and that all items agree with the backup documentation. This communication should be by paper or via email. An example of the statement that the reconciler should make is: “I have reconciled all revenue accounts for department numbers _____, ____ and _____. Accounting entries are in agreement with our documentation. Reconciler’s Name _____________ and Date __________."
    8. University procedures do not require a review of the reconciliations if adequate separation of duties is accomplished. However, if it is not feasible to have a complete separation of duties, an authorized individual should review and approve the reconciliation. With or without complete separation of duties, as indicated in Step 7 above, a responsible employee should monitor to help ensure that reconciliations are being performed in a timely manner.
  • Reporting of Theft, Fraud, Shortages, or Irregularities

    Policy
    Last Update: July 1, 1990
    Effective: August 14, 1989
    Revised: March 25, 2004

    Theft, fraud, shortages of funds or cash receipts, conflicts of interest, abuse of assets or property, or violations of laws and regulations should be reported to the Office of Internal Auditing (864-656-2387). Concerns about internal controls, auditing or accounting processes should also be reported. This responsibility extends to the operations of related organizations of the University as well.

    All levels of administration are responsible for ensuring that Internal Auditing is apprised of these types of situations as quickly as possible so that appropriate and timely actions can be taken. Cases involving shortages of cash receipts or funds must be reported immediately to the department head. Upon verification of a loss, the department head must immediately notify his or her supervisor and Internal Auditing. This does not apply to cash shortages in cash register receipts of $50 or less per day unless a consistent pattern exists.

    In instances where criminal activity is indicated, Internal Auditing will automatically refer the matter to the University Police Department for investigation. Internal Auditing will then assist the police in the investigation as needed. The Police Department will coordinate investigative activities with appropriate jurisdictions of law enforcement and will ensure that cases are referred to the proper prosecutorial authorities. Internal Auditing will not make judgment calls about whether to refer allegations of criminal behavior to law enforcement. The Solicitor’s Office is responsible for making the final determination concerning the disposition of all referrals.

    When appropriate, Internal Auditing will issue a report with comments/recommendations concerning corrective measures that need to be taken and improvements that will mitigate future occurrences. Internal Auditing will also notify the Office of Risk Management of potential losses and provide that office with final loss/restitution amounts.

    A fraud and compliance hotline is available when circumstances warrant anonymity (864-656-0741 or toll-free at 1-877-503-7283).

    Matters relating to personnel issues should be directed to the Office of Human Resources (864-656-2000) or the Office of Access and Equity (864-656-3181).

    Call the University Police Department (864-656-2222) to report the loss or theft of equipment and supplies, vandalism, and loss of cash funds resulting from robbery or breaking and entering.

  • Research Fund

    Policy
    Effective: April 10, 2012

    Definition: The term “funds,” as used throughout this document, includes all cash-like instruments, including but not limited to cash, check, coin, and cash cards.

    Clemson University provides payment to research subjects participating in a study in the form of cash cards, however, in certain circumstances, a research advance may be required. These instances should be extremely rare and limited to special circumstances. Use of the funds advanced is limited to compensating research participants in the designated study and may not be used for other purposes.

    Discussion

    Any researcher wishing to obtain funds to pay research participants must submit a Research Fund Request Form along with a copy of the approval letter issued by the Institutional Review Board (IRB) to the Cash and Treasury Services Department. The researcher is also required to keep a Research Participant Payment Log for any one recipient that is expected to receive $300 (Amount currently under review and may change in the future.) or more in a single or cumulative incentive during the calendar year due to potential 1099-MISC reporting requirements. The log must be sent to the University Accounts Payable Department by January 15 of the subsequent calendar year. The Accounts Payable Department will determine if that information meets the IRS threshold and, therefore, must be reported. Payments of $600 or more to research participants for the calendar year must be reported to the IRS via Form 1099-MISC. Please contact the University Accounts Payable Department if you require more information regarding 1099-MISC forms.

    The researcher must substantiate all funds, whether it be in the form of cash cards or an advance, within 15 days of the completion of the study or by January 15 of the subsequent calendar year if a single or cumulative payment to any one recipient is $300 (Amount currently under review and may change in the future.) or more within the same calendar year. Funds are substantiated by the researcher and submitted to the department they are conducting the research for. If the funds are not substantiated within the given time period, the department conducting the research must inform the Payroll Department, at which point, the funds may become taxable income to the researcher. Mishandling of research funds will be addressed in accordance with the University policy and applicable state and federal law.

    Cash cards not used for the purpose of reimbursing research participants will be returned to the Cash and Treasury Services Department upon the completion of the study. Unused cash and coins should be deposited in TD Bank located at the Hendrix Center. Any unused funds cannot be used to pay research participants in subsequent unrelated studies.

    Procedure
    Effective: April 10, 2012

    Obtaining a Research Fund

    Researchers can provide payment to research subjects participating in a study in the form of a cash card, however, in certain circumstances, a cash advance may be required. Cash advance instances should be extremely rare and limited to special circumstances. Researchers can obtain the funds for the purpose of providing an incentive to research subjects participating in a study by submitting to the Cash and Treasury Services Department a Research Fund Request Form signed by an Authorized Approver along with a copy of the approval letter issued by the Institutional Review Board (IRB). The Authorized Approver will be responsible for forwarding a copy to the appropriate Business Officer.

    Fund Restrictions

    Clemson University has established certain restrictions as to the use of research funds.

    1. Under no circumstances are the funds to be used for a purpose other than paying research subjects participating in the study outlined on the Research Fund Request Form.
    2. Cash cards should be given as an incentive as opposed to other cash-like instruments. Cash cards must be ordered through Cash and Treasury Services. Please allow two business days to process your cash card request. The purchase of cash cards on a purchase card is prohibited.
    3. Any funds not used for the purpose of research participant incentives will be returned upon the completion of the study. Unused funds cannot be used to pay research participants in subsequent, unrelated studies.

    Payment to Participants

    Any researcher wishing to obtain funds to pay research participants must submit a Research Fund Request Form along with a copy of the approval letter issued by the Institutional Review Board (IRB) to the Cash and Treasury Services Department. The researcher is also required to keep a Research Participant Payment Log for any one recipient that already has or is expected to receive $300 (Amount currently under review and may change in the future.) or more in a single or cumulative incentive during the calendar year due to potential 1099-MISC reporting requirements. The log must be sent to the University Accounts Payable Department by January 15 of the subsequent calendar year. The Accounts Payable Department will determine if that information meets the IRS threshold and therefore, must be reported. Payments of $600 or more to research participants for the calendar year must be reported to the IRS via Form 1099-MISC. Please contact the University Accounts Payable Department if you require more information regarding 1099-MISC forms.

    Substantiation Process

    The researcher must substantiate all funds within 15 days of completion of the study or by January 15 of the subsequent calendar year if a single or cumulative payment to any one recipient is $300 (Amount currently under review and may change in the future.) or more within the same calendar year. Funds are substantiated by the researcher and submitted to the department they are conducting the research for.

    If the funds are not substantiated within the given time period the department conducting the research must inform the Payroll Department, at which point, the funds may become taxable income to the researcher. Mishandling of research funds will be addressed in accordance with the University policy and applicable state and federal law.

    1. If providing cash cards to participants, maintain a list of participants in a Research Distribution Log documenting individual identifiers (assigned case numbers, etc.) along with the cash card number and amount. If distributing in person, make sure each individual receiving an incentive initials and indicates how much was received in the “amount” column. If mailing the incentive, indicate date mailed in addition to the before-mentioned required data.
    2. The researcher must provide receipts for expenditures (i.e. purchasing items to conduct research) and/or provide a Research Distribution Log of participants that received an incentive to the department responsible for the research. If no receipt is available and the funds were not distributed to participants with a list, a memo of justification is required to explain how the funds were spent and should be submitted as backup documentation for actual expenditures to the department responsible for the research. (Receipt copies and/or a Research Distribution Log is expected for documentation.)
    3. Any unexpended/undistributed cash cards should be returned to the Cash and Treasury Services Department. Cash and coins should be deposited in TD Bank located at the Hendrix Center. Please record the person’s name making the deposit, department name, and number on the deposit slip to ensure receipt of funds to the proper account.
    4. Bottom line, a full accounting of funds received must be provided and be able to be tracked for the entire amount received.

    Repayment of Research Advance

    Research advances must be repaid no more than 30 calendar days from the issue date. Advances are to be repaid through BuyWays by entering a voucher payable to Clemson University - Cash and Treasury Services.

    The Cash and Treasury Services Department cannot accept cash.

  • Temporary Petty Cash Advance

    Policy
    Effective: July 1, 2016

    The University provides for the procurement and payment of services and supplies; however, in certain circumstances, due to the nature of transactions, a temporary petty cash advance may be issued. Temporary petty cash advances are not to be used to circumvent University procedures and record-keeping regarding purchases and payments. Advances are available for student travel, research study subject payments, awards or prizes to support student activities, and for other valid expenses that cannot be processed by the University’s purchasing system or through the use of a purchasing card. Advances are also available for employee travel (see Travel Cash Advance – Authorization Policy). Advances are to be temporary in nature, meaning that repayment is due within 30 days of the advance issue date. All departments receiving temporary petty cash advances are required to exercise control over their use.

    Discussion
    All temporary petty cash advance requests must be submitted to Cash and Treasury Services using a Temporary Petty Cash Advance Form. Requests must be made at least five business days before the funds are needed. Requests not made five business days in advance may not be fulfilled. The request must be initiated by the employee who will ultimately safeguard the funds and account for their disbursement. A separate employee may be designated on the form to issue repayment to Cash and Treasury Services. Temporary petty cash advances will be processed by direct deposit. Cash will not be given under any circumstances.

    Temporary petty cash advances should only be requested in anticipation of immediate need or use. All advances must be repaid to Cash and Treasury Services within 30 days of the issue date. Funds may only be used for the purpose indicated on the Temporary Petty Cash Advance Form. Any funds remaining must be redeposited.

    Departments are responsible for documenting the use of temporary petty cash advances. If the advance is distributed (i.e., in support of research study subjects or for awards or prizes to support student activities, etc.), the person accountable must keep a log of any disbursements made. All documentation must be retained within the department for auditing purposes.

    The person accountable is responsible for safeguarding the funds until they have been either exhausted or redeposited. Funds should be accounted for on a weekly basis. Any shortages must be reported immediately to the Office of Internal Auditing. If burglary or theft is suspected, the University Police Department should also be notified immediately after discovery. Mishandling of funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

    Procedure
    Effective: July 1, 2016

    Requesting a Temporary Petty Cash Advance
    To obtain a temporary petty cash advance, a Temporary Petty Cash Advance Form, approved by your department head/director, must be submitted for approval to Cash and Treasury Services. Advances should only be requested in anticipation of immediate need or use. Requests must be made at least five business days before the funds are needed. (Requests not made five business days in advance may not be fulfilled.) The request must be initiated by the employee who will ultimately safeguard the funds and account for their disbursement. A separate employee may be designated on the form to issue repayment to Cash and Treasury Services. If a separate employee is designated, the requestor’s signature indicates that they have made this employee aware of the request and that documentation has been provided to them. Temporary petty cash advances will be processed by direct deposit. Cash will not be given under any circumstances.

    Allowable Uses and Limits
    Due to the nature of transactions in some circumstances, a temporary petty cash advance may be necessary. Advances are available for the following purposes:

    1. Student travel.
    2. Incentive for research subjects in studies approved by the University’s Institutional Review Board (IRB). (Incentive cards are the preferred method for research subject incentives. Refer to the Incentive Cards Policy for more information.)
    3. Prizes, recognition awards or tokens of appreciation for students.
    4. Prizes and recognition awards for volunteers.
    5. Change fund for an event.
    6. Other valid expenses that cannot be processed by the University’s purchasing system or through the use of a purchasing card.

    Temporary petty cash advances are not to be used to circumvent University procedures and record-keeping regarding purchases and payments. Advances cannot be used as a bonus, award, honoraria or other means of compensation to employees. These payments must be processed through the payroll system. If there is any question about a particular situation, the Office of Human Resources should be consulted. Advances may only be used for the purpose stated in the original request. Any funds remaining must be redeposited.

    Internal Controls
    All departments receiving temporary petty cash advances are required to exercise control over their use. Advances must be safeguarded at all times. The person accountable for the funds has primary responsibility for safekeeping and proper usage. Funds must be secured at all times with limited access. The following internal controls must be maintained at a minimum:

    1. Funds should be held on campus prior to travel or disbursement. They must be kept in a locked office safe or file safe or secured in a location that can only be accessed by combination or key in the accountable person’s possession. At no time should the funds be left in unlocked desk drawers or cabinets. Funds should not be retained in desk drawers or standard file cabinets since they are easily accessed with minimal forcing or readily available keys.
    2. Advances must not be commingled with any other funds or used for any purposes other than those listed on the Temporary Petty Cash Advance Form.
    3. A weekly count of funds must be conducted by the person accountable for said funds. Any discrepancies in the fund are the responsibility of the person accountable, as listed on the Temporary Petty Cash Advance Form.

    Repaying a Temporary Petty Cash Advance
    Advances are to be temporary in nature, meaning that repayment is due within 30 days of the advance issue date. To repay an advance, process a voucher in buyWay$ made payable to Clemson University-Cash and Treas Campus. The petty cash account code should not be used when repaying a cash advance. Consult your business office if you need assistance in selecting a chart field string.

    Required Documentation
    Departments are responsible for documenting the use of temporary petty cash advances. If the advance is distributed (i.e., in support of research study subjects or for awards or prizes to support student activities, etc.), the person accountable must keep a log of any disbursements made. All documentation must be retained within the department for auditing purposes.

    Redepositing Remaining Funds
    Funds may only be used for the purpose indicated on the Temporary Petty Cash Advance Form. Any funds remaining must be redeposited to the same chart field string that was used when repaying the advance.

    Tax Reporting for Fund Disbursement
    If the temporary petty cash advance is distributed to research study subjects or given as a prize or award, any one person receiving $600 or more on a single or cumulative basis during a single calendar year will be reported to the IRS via Form 1099. The department receiving the cash advance is responsible for sending the person’s name, address, Social Security number, date of payment(s) and total payment amount to University Disbursements, 391 College Ave., Suite 203, Clemson SC 29631 no later than January 15 of the subsequent calendar year. All personal identifying information should be kept secure and should not be emailed or sent via interoffice mail.

    Theft or Loss of Funds
    A weekly count of funds will be conducted by the person accountable for said funds. Any shortages must be reported immediately to the Office of Internal Auditing. If burglary or theft is suspected, the University Police Department should also be notified immediately after discovery. Mishandling of funds will be addressed in accordance with the University discipline policy and any other applicable state and federal law enforcement.

  • Wire Transfer – Non-Student - Incoming

    Policy
    Effective: February 1, 2003
    Revised: October 31, 2018

    Setup of all new incoming wire transfers and/or EFT payments must be coordinated with the Accounts Receivable area within the Office of Accounting Services to ensure all documentation is properly completed and funds are adequately accounted for. EFT enrollment forms must be completed by the Accounts Receivable office or the department that the customer is doing business with. Wire transfer and/or ACH instruction must be obtained from the Accounts Receivable office. In each case, the payor will be instructed to include identifying information for the payment, such as invoice number or beneficiary, to help ensure accurate processing of the payment. Monies will be receipted to the appropriate CUBS accounts once they are received.