Please visit Collection of University Funds to review the procedures and obtain forms to comply with this policy. Further questions may be directed to the Bursar’s Office at 501-569-8757.
|University of Arkansas at Little Rock|
|Policy Name: Collection of University Funds and Compliance to Payment Card Industry (PCI) Regulations|
|Policy Number: 303.1|
|Effective Date: January 27, 2015|
University funds are described as any form of cash or other monetary resources (coin, currency, checks, credit cards, etc.) received on behalf of the University of Arkansas at Little Rock (UA Little Rock). In this policy, university funds refer to those received by any means other than electronically deposited directly into the university’s general operating funds.
The Cashier’s Office is designated as the only default receiver of funds for the UA Little Rock. Other areas of the university may be delegated authority to collect funds on behalf of the university but only with written permission from the Bursar, which must be obtained on an annual basis. In addition, when permission is received, the department must adhere to all payment card industry (PCI) compliance regulations.
The university has put systems and procedures in place so as to abide by PCI compliance regulations, which prohibit electronically storing credit card information in databases, log files, audit trails, backups, etc. To ensure compliance with these regulations, the university uses a third party processor to eliminate storage of credit card information in its databases. Further, all departments that are granted permission to collect funds on behalf of the university must adhere to PCI compliance procedures at the department level, which are detailed in the accompanying procedures to this policy.
Refer to the Procedures for Collection of University Funds and PCI Compliance for further details on the process to receive permission to collect funds on behalf of the university, the procedure in which cash should be collected, and guidelines to abide by PCI compliance regulations. These procedures can be found at the link below.
Source: University-wide Administrative Memo, June 7, 2004
Revised: April 5, 2010; May 8, 2013; January 27, 2015
Approved By: Dr. Joel Anderson, Chancellor
Custodian: Office of Finance and Administration