Safety and Security of Funds

Any KU department that accepts monetary funds is responsible for the safety and security of these funds. Funds include cash payments, checks and credit card information.

Anytime payments are accepted, the department must keep these monies in a secure location. Limited access is advised. Information is contained on the check that is considered confidential and should be treated as such.

Departments should make at a minimum weekly deposits to Student Accounts & Receivables. Deposits should be prepared using two staff members. A secure outside drop box is are available for after-hour convenience located behind (east side) of Carruth O'Leary Hall.

Cash:

• Cash (currency and coin) is the most liquid form of payment; that is the most easily misappropriated. Cash must be protected against loss upon receipt and at all points thereafter. Physical security is the most important aspect of cash handling.
• Receipts for cash payments must be provided to the payee. See the Departmental Receipts Policy for more information.

Checks:

• Upon receipt, checks should be immediately endorsed.
• Before depositing these funds with Student Accounts & Receivables, these checks should be kept in a secure location.

Credit card information:

• Credit card information should never be accepted/transmitted via fax or email.
• Documents and forms that contain credit card information that is mailed to an office should be considered confidential and shredded immediately after use.
• Departments should utilize TouchNet Marketplace to take credit card payments to keep customer information secure at all times rather than taking phone order.
• Credit card information should not be stored in any kind of database or spreadsheet.

Record Confidentiality:

To avoid inadvertent release of confidential or sensitive information, comply with regulatory mandates and minimize risks to users and the institution, each department is required to engage all measures and effort to maintain confidentiality of any and all internally received, processed and/or otherwise managed information that hold or utilize data sets containing student information/records, personally identifiable information such as social security numbers, credit card numbers, banking information and other categories of data that are protected by federal or state laws or regulations. Such data must be secured regardless of the type of information they utilize. This applies to customer receipt vouchers, transaction tapes, paper checks, screen prints, emails, and reports to which unauthorized individuals may gain access in your environment. Access to sensitive information should be limited and regulated by procedure. Information should be stored properly on a daily basis to ensure safety and internal control.