The Child Development Center Supervisor is responsible for collection, expenditure, and accounting for all monies in operation of the Child Development Center. The Lead Teacher(s) will assist in this procedure.

1. Cash Receipts

   When collecting fees, Child Development Center personnel will issue the official Child Development Center receipt, Form LSSC 360-486.

   1. The receipt will be in triplicate.
      1. The original (white copy) will be retained by the Child Development Center in numerical sequence.

      2. The second copy (yellow) will be transmitted to the Business Office cashier.

      3. The third copy (pink) will be given to the person paying the fee as a record of payment.

   2. Receipts will be used in numerical sequence.

   3. If a receipt is voided, all three copies shall be so marked and the copies retained with the white copies in numerical sequence at the Child Development Center.

   4. Cash receipts will be deposited each day with the Business Office cashier. If this is not possible, then receipts will be kept in a locked file at the Center overnight.

   5. Checks are to be made payable to Lake Superior State University or LSSU Child Development Center and stamped with a 'Deposit Only' stamp.

   6. Cash receipts will be recorded in the General Fund, account number 1-06000-0560, titled Child Development Center tuition.

2. Individual Ledgers

   Child Development Center personnel will establish and maintain individual ledgers for each participant, recording the payment and the period it covers. Entries will show date of payment, receipt number, and amount paid. These records will be kept for internal administrative purposes.

3. Expenditures

   1. All expenditures of funds for Child Development Center operation must be approved by the person so authorized and whose "Authorized Signature Card" is on file in the Business Office.

   2. The General Fund Child Development Center account number is 1-14040. (Object codes will be assigned as expenditures are made.)

   3. A petty cash fund may be established, if the need arises