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TREASURY MANAGEMENT

Procedure for Ordering Coin and Currency from JPMorgan Chase


I. Date of Initiation/Revision

April 19, 2002

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.

VII. Definitions

DDA: demand deposit account

Requisition: an order or request for order

VIII. Responsibilities

Each week on Tuesday before 11 a.m. EST, it is the responsibility of the Cashiers' Office of Strong Memorial Hospital to contact JPMorgan Chase Bank to requisition the necessary coin and/or currency for the next weekly period.

IX. Procedures

The Cashiers' Office each Tuesday morning will determine the need for the upcoming week for the proper quantities of coin and currency to requisition/order from JPMorgan Chase Bank. The minimum quantities for each denomination are as follows:

Coin Currency
Denomination   Value   Denomination   Value
$.01   $25   $1.00   $100
$.05   $100   $5.00   $500
 
Coin Currency
Denomination   Value   Denomination   Value
$.10   $250   $10.00   $1,000
$.25   $500   $20.00   $2,000
  $50.00   Increments of $1,000
  $100.00   Increments of $1000

The cashiers' office will create an ongoing spreadsheet that will be utilized for the purpose of preparing a requisition form which will be similar to the above coin and currency denominations that tallies and foots to the desired amount of the requisition. Upon completion of the requisition amount, the cashiers' will call the Bank at 258-5042, 258-5044 or 258-5046.

The Bank personnel will ask the name of the individual calling which will be verified against the listing of authorized individuals. The Bank will document the verbal requisition of the order and read it back to the Cashiers' Office personnel for verification. Cashiers' office personnel that are authorized to make the call to JPMorgan Chase Bank are:

Name Telephone #

The requisition will be prepared by the Bank for pickup later in the day by our courier, Armored Motor Service of America, Inc. (AMSA). AMSA will hold the requisition in their vault overnight for delivery to the Cashiers' Office at Strong Memorial Hospital on Wednesday morning. Upon delivery, the cashiers' office personnel will verify the amount delivered to be consistent with the amount requisitioned from the bank which is reflected in the ongoing spreadsheet of coin/currency requisitions.

Our DDA at JPMorgan Chase will be debited directly for the amount of this requisition each week on the day of order. The Cashiers' Office will identify the dollar amount of each weekly requisition on the CTL Spreadsheet in a separate column labeled "Coin/Currency Requisitioned". The dollar value of the requisition and the date of the order should be noted on the spreadsheet. Finance will use the column for balancing to the bank activity posted to the bank account.

The monthly billing invoice from AMSA will be sent directly to Joan Mitchell, Strong Memorial Hospital Patient Accounts. The invoice will be for $178.00 plus tax for the monthly service. The invoice will be charged to 2-31542-2961.

X. Procedure Review

This procedure will be reviewed and revised in accordance with procedure changes.