Internal controls over cash are necessary to prevent mishandling of funds and to safeguard against loss. Strong internal controls also protect employees from inappropriate charges of mishandling funds by defining responsibilities in the cash handling process.  "Cash" includes coin, currency, checks, money orders, cashier checks, foreign drafts, traveler’s cheques, etc. This is in accordance to APS 31.1.

Definition: The management of cash at the University of Washington is a critical function. Although much of that comes via electronic payment methods (wires, ACHs and credit card merchant activity), a significant amount of cash is still handled throughout the University departments. The fiduciary responsibilities related to internal controls and proper cash handling procedures apply to all departments, regardless of their size or amount collected.

For more information about the University of Washington’s policy/procedures with respect to the handling, receiving, transporting and depositing of cash, please contact Banking & Accounting Operations at bankrec@uw.edu or visit the website http://finance.uw.edu/bao/.

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UW Banking & Accounting Operations Roles

UW's Banking & Accounting Operations serves as source to campus on items related to banking, cash receivables (ACH/WIRES/Deposits), Cash Transmittal uploads, and bank account reconciliations.

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Student Fiscal Services Roles

Although the UW's Student Fiscal Services (SFS) department primarily handles student registration and fiscal responsibilities, it also offers many fiscal services to UW departments, including the management of UW's merchant account relationship.

  • Guidance on how to handle money
  • Guidance for small units: Small departments or departments that handle a small amount of cash or cash activity should still adhere to cash handling best practices.
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Sale of Goods / Services

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Gift Processing

The UW may receive a gift in just about any manner conceivable. To find out more about types of gifts that can be received, where the gift or gift notification should be sent and how to record the gift, visit the Gift Processing Webpage.

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