Topics Map > Accounting > Cash Handling
Bursar - Cash Handling Certification Glossary
Business and Financial Policies and Procedures (BFPP)
The collection of OBFS policies and procedures posted on the OBFS website.
Includes checks, coin, bills, or other property that can be easily converted to currency.
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.
A C-FOAPAL is a 6-digit number code used to facilitate financial reporting across the University of Illinois System.
A form of payment which allows the cardholder to purchase goods or services on credit with the issuing bank.
A paper device designed to bundle and hold currency together.
Form of payment which automatically debits the card holder's checking or savings account.
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.
Procedures put in place to minimize cash handling errors and safeguard the cash and checks in the care of your unit.
Refers to any check that has a future date written on it by the payer.
Pre-numbered, three-part forms used to record receipt of funds at the time of sale.
Official and trustworthy documents used for accountability and transparency. Requirements for retaining records are mandated by federal and state laws and regulations.
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.
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.