INFORMATION RECEIVED FOR PAYMENTS POLICY
- All checks received for payment must be immediately stamped "For Deposit Only" with a stamp provided by the Business Office.
- Cash and checks in excess of $300 must be kept in a safe approved by the Controller or left in the Business Office depository overnight for safekeeping.
- Cash and checks less than $300 must be kept in a locked drawer or file cabinet in a room with restricted access.
- Credit card receipts or other documentation containing credit card number must be kept in a secure location the same as cash or checks or shredded if no longer needed.
- To comply with the Bank Secrecy Act, the USA Patriot Act, Office of Foreign Assets Control and anti-money laundering regulations, we are required to report the following to the US Treasury:
- money order transactions that aggregate $3,000 or more
- cash purchases that aggregate $10,000 or more and
- all suspicious illegal activity.
