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.

  1. 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.
  2. 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.
  3. 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.
  4. In the case of missing cash or checks, a manager should report the loss to the Office of Finance and Administration immediately.
  5. All transactions should be entered in the revenue managemnt system.
  6. A receipt printed from the system should be provided to each patron.
  7. 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.
  8. Credit/debt card numbers must not be send via email.
  9. No list may be maintained that includes entire credit/debit card numbers.
  10. Cash collected is not for personal use; for example, employees may not borrow cash from the deposit for lunch and replace it later.
  11. Cash and checks, as well as products such as copy cards, should be held in a secure location.
  12. Items for sale should be inventoried daily and an inventory log should be kept.