Cash Handling

Cash is a crucial asset for the University of Illinois System, requiring clear accountability in its receipt, deposit, and custodianship due to its sensitive nature.

The U of I System adopts a decentralized approach to cash handling, delegating responsibilities extensively to enhance operational efficiency, convenience, and flexibility. The ultimate responsibility for the cash handling function lies with the Vice President/Chief Financial Officer and Comptroller. Delegations extend to units not under the direct control of the Vice President. Effective delegation relies on vigilant supervision by unit managers. Adequate internal controls play a pivotal role in ensuring responsible stewardship of public funds and safeguarding employees.

The cash handling function encompasses two main areas:

1. Cash Collections
   Involves the collection, control, and deposit of amounts owed to the U of I System from cash sales, accounts receivable collections, credit card sales, and other sources.
2. Cash Disbursement
   Encompasses the dispensing of cash (both currency and checks) for miscellaneous expenditures and the control of funds designated for this purpose.

Unit Heads play a pivotal role in ensuring the secure and accountable management of cash within their respective units. Their responsibilities encompass the following key aspects:

• Procedure Development
• Compliance Oversight
• Approval Process
• Supervision of Cash Handling Personnel

Contact Information and Office Location

• UIUC
• UIC
• UIS