Revenue Collection during Internal Events

PURPOSE and SCOPE:

This policy amends Procedure No. B-01, Use of Fadms for an intemal Event by adding Section 4.4, “Events Collection Procedures." Section 4.4 identifies the procedures to use for revenue collection by staff, faculty and students when events (athletic, plays, musical performances or other functions) are held on the campus.

4.4 Events Collection Procedures

4.4.1 Pre-Collection Procedures Before holding an event in which revenue (cash or checks) is to be collected, the Event Coordinator must review the collection process with the Business Compliance Office (BCO).

4.4.2 The Event Coordinator should either provide the BCO information (email acceptable) or meet to discuss details regarding the event collection process, including:

1. the person responsible for the collection of revenue
2. the amount to be charged per individual or group
3. the total expected revenue collections ($$) for the event
4. the method used to account for all ticket sales and revenue (all tickets should be pre- numbered and comp tickets identified)

4.4.3. The Event Coordinator must also maintain a record of cash receipts. If revenue has been received prior to the event being held, the Event Coordinator should immediately deposit the revenue with the Bursar‘s Office. Subsequent receipts should be deposited daily by the close of business.

4.4.4 Events Collection Procedures: To ensure better internal control over the revenue, a counter (a person designated by the Event Coordinator) and a witness (a University Police Officer) must be present during the counting and verification process. In addition, the keys to the locked bank bags will be restricted to the University Police Officer and the Bursar’s Office to limit custody of the proceeds. An Events Collection Checklist (Exhibit 1) is to be used to guide personnel through the collection process. Specific procedures follow.

1. At or near the end of the event an Event staff member counts the total proceeds and prepares an Event Record of Collections form (Exhibit 2) indicating the amount of cash, checks and coin collected at the event.
2. Upon completion of the count by the event staff, a University Police Office verifies (recounts) the proceeds collected and both the University Police Officer and the Event Staff sign the Record of Collections agreeing to the total proceeds counted.
3. The event Staff inserts the signed Record of Collections and the actual proceeds into the bank bag, locks its contents and gives the locked bank bag to the University Police Officer. Depending on the time when the event is held, the University Police Officer will either take the bag to the Bursar's Office for deposit or secure it overnight in University Police Headquarters. If the latter, the proceeds must be deposited with the Bursar's office the next business day.
4. The Bursar’s Office will unlock the bank bag, count the proceeds and issue a receipt to the University Police Officer.
5. Section 4.4.4 was reviewed and agreed to by the Chief of University Police.

4.4.5 Event forms, pre-numbered tickets and collection supplies may be obtained from the Business Compliance located in Campus Center, Room H-310B.