COIN AND CURRENCY - 8032.4

Agencies/Departments shall prepare and deposit coin and currency amounts exceeding $100 as described below. If the amount of coin in the deposit exceeds $50, agencies/departments shall prepare and submit a separate deposit slip for the coin portion (other currency shall be submitted with a separate deposit slip). Bank messengers are restricted from picking up any deposit that includes coin and/or currency.

Agencies/Departments shall count and verify the coin and currency portion of deposits that are delivered to the bank by armored car or an employee. For further details on these methods of depositing, see SAM Section 8032.2. An agency/department employee shall count and place the coin (unrolled) and currency in a deposit bag and seal the bag in the presence of another employee. Both employees shall sign the agency/department copy of the deposit slip indicating they have verified the coin and currency amount in the deposit. The armored car carrier or the employee delivering the deposit to the bank must sign the receipt indicating the receipt of the sealed deposit bag to be delivered.

When coin and currency deposits exceed $3,000 and armored car service is unavailable or not economically justified, agencies/departments shall assign two employees to deliver the deposit. Agencies/Departments may split deposits to reduce the cash transported at one time. Agencies/Departments may request an escort from the local police department or sheriff’s office for exceptionally large deposits.

Agencies/Departments shall not disburse or withhold receipts for the purposes of establishing or augmenting an over-the-counter change fund. Agencies/Departments shall not use receipts to be deposited to cash checks for employees.