Handling CashIt is imperative that organizations maintain proper cash handling procedures. Any time an organization receives income from fundraisers, sales, dues, or other organization activities, all money should be deposited in the Student Activities safe at the end of the day.
- Under no circumstances should organizations maintain a significant amount of money (greater than $50) in an unsecured location (dorm room/apartment) or in the possession of any member.
- If organizations sell tickets from a cash box, the cash box should be emptied each night and the contents deposited in the safe.
- Keep only enough money in the cash box for making change during the next day’s sales.
- Cash/Checks should be deposited directly into the student organization’s Oracle account. Under no circumstances should organizational money be deposited into a personal banking account.
- All proceeds should be deposited – no cash should be used to pay expenses directly.