Office of Finance and Administration
Library Revenue Collection Policies
In order to provide a strong system of internal control, the following policies must be followed by all service points within the library system that collect cash, checks or credit/debit card payments. This includes payments for library fines, access passes, photocopy cards, color copying, book replacement fees and other fines.
- Transactions should be reconciled daily by the designated manager at each site. Any problems reconciling the transaction log to actual cash, checks and credit/debit sales should be addressed immediately. The reconciler will ensure that all transaction receipts, both processed and voided, are accounted for.
- Deposits should be submitted to the Finance and Administration Office any time the total reaches $50.00, but must be made at least once per week. Weekly deposits are due in the Finance and Administration Office by 12:00 Noon on Thursdays. The Finance and Administration Office will monitor this to ensure money is deposited in a timely manner.
- A summary transaction report must be submitted with deposits to the Finance and Administration Office. Signed credit card receipts should be attached to the report.
- In the case of missing cash or checks, a manager should report the loss to the Office of Finance and Administration immediately.
- All transactions should be entered in the revenue managemnt system.
- A receipt printed from the system should be provided to each patron.
- Credit/debit card numbers must be destroyed as soon as they are no longer necessary. Suspected theft of credit/debit card information must be reported to the Office of Finance and Administration immediately.
- Credit/debt card numbers must not be send via email.
- No list may be maintained that includes entire credit/debit card numbers.
- Cash collected is not for personal use; for example, employees may not borrow cash from the deposit for lunch and replace it later.
- Cash and checks, as well as products such as copy cards, should be held in a secure location.
- Items for sale should be inventoried daily and an inventory log should be kept.