Procedure for Ordering Coin and Currency from JP Morgan Chase for SMH Cashiers’ Office
I. Date of Initiation/Revision
April 19, 2002, revised April 5, 2017
II. Procedure Classification
Treasury, maintained by the Office of Treasury reporting to Senior VP for Administration & Finance and Chief Financial Officer.
III. Procedure Summary
The purpose of the procedure is to identify the process for which coin and currency can be requisitioned from JPMorgan Chase Bank for Strong Memorial Hospital Cashiers’ Office.
IV. Related Policies/Procedures/Processes
Not currently applicable.
V. Delegation of Authority
The Senior Vice President for Administration & Finance and Chief Financial Officer has delegated authority for this procedure to the Office of Treasury.
VI. Procedure Statement
The purpose of this procedure is to identify the course of action that is necessary to requisition coin and currency from JPMorgan Chase for the benefit of Strong Memorial Hospital Cashiers’ Office.
DDA: demand deposit account
Requisition: an order or request
Daily by 11:00am EST, it is the responsibility of the Cashiers’ Office Vault Auditor, Strong Memorial Hospital to contact JPMorgan Chase Bank to requisition the necessary coin and/or currency when necessary to maintain adequate monies for change.
The Cashiers’ Office will determine daily the need for the proper quantities of coin and currency to requisition/order from JPMorgan Chase Bank. The minimum quantities for each denomination are as follows:
|$50.00||Increments of $1000|
|$100.00||Increments of $1000|
The Cashiers’ Office will complete a form that will be utilized for the purpose of ordering and tracking coin and currency for the Cashiers Office. Upon determination of need and completion of form, the vault auditor will sign in to JPMorganchase.com/webcash website using their individual password. Denominations will be input for a maximum of 7 pieces. After order is placed, the confirmation # will be written on the form and kept on file.
When online ordering is not available, Supervisor of Cashiers will call Chase bank webcash at 1-888-872-0517 to order. Chase bank personnel will verify identity of authorized individual.
The change order will be prepared by the Bank for pickup later in the day by our courier, Loomis, where it will be kept in their vault overnight for delivery to the Cashiers’ Office at Strong Memorial Hospital on the following business day. Upon delivery, Cashiers’ Office vault auditor will verify the amount delivered to be consistent with the amount requisitioned from the bank.
Our DDA at JP Morgan Chase will be debited directly for the amount of this requisition each week on the day of order. The Cashiers Office will prepare a cash deposit with the dollar amount of the change order following cash deposit procedures set forth by Patient Financial Services, Cashiers Office.
X. Procedure Review
This procedure will be reviewed and revised in accordance with procedure changes.