Bursar - Cash Handling Certification Glossary

This document a glossary of terms related to the Cash Handling Certification courses

Business and Financial Policies and Procedures (BFPP)
The collection of OBFS policies and procedures posted on the OBFS website.

Cash 
Includes checks, coin, bills, or other property that can be easily converted to currency.

Cash Handling
The activity of accepting, dispensing, counting, and tracking cash (checks, coin, and currency).

Cash Handling Unit (CHU)
Any approved University of Illinois department or entity which receives and deposits cash, cash equivalents, and/or checks on behalf of the university.

C-FOAPAL
A C-FOAPAL is a 6-digit number code used to facilitate financial reporting across the University of Illinois System.

Credit Card
A form of payment which allows the cardholder to purchase goods or services on credit with the issuing bank.

Currency Strap
A paper device designed to bundle and hold currency together.

Debit Card
Form of payment which automatically debits the card holder's checking or savings account.

Endorse
To sign as payee on the back of a check in order to obtain the amount represented on the face. This places a limitation on the use of the check.

Fiscal Year (FY)
A period of time lasting one year from July 1st through June 30th used for accounting purposes.

Internal Controls
Procedures put in place to minimize cash handling errors and safeguard the cash and checks in the care of your unit.

Post-Dated
Refers to any check that has a future date written on it by the payer.

Receipts
Pre-numbered, three-part forms used to record receipt of funds at the time of sale.

Records
Official and trustworthy documents used for accountability and transparency. Requirements for retaining records are mandated by federal and state laws and regulations.

Returned Check
Any check returned to the university with funds uncollected. Common reasons for return include "not sufficient funds," lack of signature, and closed account. Such checks are returned to the accepting department and assessed a returned check administrative fee.

Segregation of Duties
Method of separating cash handling responsibilities among different people, to help prevent error and fraud.

Stale-Dated
A check that has not been processed through the payer's account within 180 days. After 180 days, most banks consider checks to be stale-dated and will return the check unpaid.



KeywordsCash Handling Certification Glossary   Doc ID117974
OwnerKathy K.GroupUI Training and Development Resources
Created2022-04-14 11:44:01Updated2024-02-02 11:41:51
SitesUniversity of Illinois System, University of Illinois Training and Development Resources
CleanURLhttps://answers.uillinois.edu/systemoffices/bursar-cash-handling-certification-glossary
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