2.0 Funds Handling Definition
Refers to any one or combination of the following:
- Cash/Checks: Receive receipt of currency, coin, checks, money orders, or traveler’s checks through a University depository account.
- Credit Cards: Receive receipt of credit card payments or create additional locations by establishing a merchant account.
- Electronic Funds: Receive receipt of Automated Clearing House funds (ACH), electronic Funds Transfer (EFT) or Wire Transfers.
- E-commerce: Receive receipt of electronic payments via an internet store front.
Payment Card Industry Data Security Standard (PCI DSS):
- Requirements developed by credit card companies to ensure consistent security measures for sensitive credit card holder data.
- Refers to the Revenue Services Unit in the Division of Finance.
- Refers to all departments and employees of West Virginia inclusive of the divisional campuses and the West Virginia University Research Corporation.
University Funds Handling Training Program:
- Presented by the Revenue Services Unit, this program will provide education on the proper handling of funds throughout the University. This includes review of the University-Wide Funds Handling Standard and Guidelines, strengthening internal controls, securing funds, separation of duties, deposit procedures, reconciliation, and monitoring. This training session will also cover completing miscellaneous receipts, e-commerce and meeting PCI DSS requirements. This program is mandatory for all Funds Handling personnel and their supervisors.