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Cash Handling Training

Cash Handling Training. Association of Public Treasurers of the US & Canada. Training Benefits for You Today. Enhance your own performance Entertain and exchange new ideas Build confidence Receive recognition Built on the APT manual for reference. No such thing as “Just a Cashier”.

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Cash Handling Training

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  1. Cash Handling Training Association of Public Treasurers of the US & Canada

  2. Training Benefits for You Today • Enhance your own performance • Entertain and exchange new ideas • Build confidence • Receive recognition • Built on the APT manual for reference

  3. No such thing as “Just a Cashier” • You are a City ambassador! • You must be: • friendly • courteous • honest • professional • exhibit high levels of integrity

  4. Your pivotal role • Treat others as you expect to be treated • Your Performance Standards • produce accurate results • perform efficiently and cost effectively • perform according to established standards • show initiative to excel and contribute • establish good public relations • create positive impression through a well groomed personal appearance

  5. Training Modules • Money System Background • Currency Identification and Handling • Daily Operations • Security

  6. Our Training Purpose • Learn specific skills and knowledge • Instill customer service orientation • Increase accountability and reduce errors • Increase safety • Standardize procedures • Implement certification and training Programs • Collect money and collect ideas!

  7. Module One: Background Your Treasury and the Flow of Money

  8. Our U.S. Banking Structure • Established by Alexander Hamilton • Independent and branch banks • Federal Reserve - the banker’s bank MANUAL PAGE: 3

  9. Federal Reserve System • Federal Reserve Act - 1913 • Currency control • supply, flow and issuance • Federal Reserve Board • 12 Districts • 12 Federal Reserve banks • 25 Branches and 9 Additional Offices • 47 Check processing centers

  10. Inside the “Fed” • Board of Governors • Federal Open Market Committee • Federal Advisory Council • Federal Reserve Banks • Member Banks • Credit Policy • Margin Requirements • Reserve Rate • Discount Rate MANUALAPPENDIX A

  11. Moving Money through the Fed • Currency flow • A move to electronic transactions • expedited funds regulations Reg CC • “Check 21” • cost and efficiencies – “ECA” • retention at first bank of presentment • Checks • daily “fed letters” • sort and transfer through ABA numbers

  12. 1 2 3 4 5 6 7 8 9 10 11 12 Can You Name the Districts?

  13. 1 Boston 2 New York 3 Philadelphia 4 Cleveland 5 Richmond 6 Atlanta 7 Chicago 8 St. Louis 9 Minneapolis 10 Kansas City 11 Dallas 12 San Francisco The Federal Reserve Districts MANUALAPPENDIX A

  14. Source: www.federalreserve.gov/

  15. City Treasury Responsibilities • Receive and retain funds • Safeguard and disburse funds • Invest funds at all times • Receipt customers • Maintain accurate records • Maintain customer relations • Understand emergency situations MANUAL PAGE: 3-4

  16. Inside Your Treasury Consolidated or “Central” Cashiering vs. Decentralized

  17. Sample Legislation from APT US&C • Establishing cash handling as a City function • Create legal references internally • Require certification • Require training • Establish timely deposit responsibility • Establish timely deposit liability MANUAL PAGE: 30

  18. Module Two: Currency Money, money, money! Checks, checks, checks!

  19. A Close Look at Currency • Seven denominations • Numeric and alpha value notations • One Federal Reserve seal • No longer by District • Treasury seal • Unique serial number (2 times) • Federal Reserve District designation • Four times on the one dollar bill • In the serial number and alpha numeric MANUAL PAGE: 6

  20. Currency Notes • $1 • $2 • $5 • $10 • $20 • $50 • $100 • $500 • $1,000 • $5,000 • $10,000 Who ?

  21. Currency Notes • $1 George Washington • $2 Thomas Jefferson • $5 Abraham Lincoln • $10 Alexander Hamilton • $20 Andrew Jackson • $50 Ulysses S. Grant • $100 Benjamin Franklin • $500 McKinley • $1,000 Cleveland • $5,000 Madison • $10,000 Chase Gone but not forgotten...

  22. George Washington Thomas Jefferson Abraham Lincoln Alexander Hamilton Andrew Jackson Ulysses S. Grant Ben Franklin What is the picture? What’s backing it up?

  23. George Washington Thomas Jefferson Abraham Lincoln Alexander Hamilton Andrew Jackson Ulysses S. Grant Ben Franklin Great Seal & Pyramid Declaration of Indep. Lincoln Memorial US Treasury Bldg White House US Capitol Bldg Independence Hall What’s backing it up?

  24. The History of Money • Clubs to cryptography • increasing need for security and procedures • First metal coins created about 600 B.C. • First paper money was Chinese 400 B.C. • First electronic money - ACH - 1950’s • Digital internet money - 1990’s • PCs as ATMs • Patriot Act of 2002

  25. History of US Money • Used Spanish/French/English until 1775 • 1775 first issued to finance war • Paul Revere made first plates • 1792 Mint Act after Constitution • 1793 first coins minted (first one to Martha W.) • 1861 first paper “Demand Notes” (“greenbacks”) • 1793-1861 1,600 banks issued 7,000 varieties of paper money

  26. History of US Money • 1878 Act created Silver Certificates (blue seal) • 1863-1929 Banks could issue National Bank Notes • 1913 Federal Reserve Act creates Federal Reserve Notes • Currently: • 99% Federal Reserve Notes (green seal) • 1% US Notes (red seal)

  27. Who are the current players? • US Treasurer • Anna Escobedo Cabral • Secretary of the Treasury • John Snow

  28. New Currency • Larger, off center portrait • Colors added in 2003 • Watermark portrait • Color shifting ink (lower right) • Low-vision features on $20 and $50 • New $20 released in November 2003 • New $50 and $100 in 2004 and 2005 • $5 and $10 redesign under consideration • $1 and $2 will not be redesigned

  29. New Currency • Embedded security thread (1990) • left on $20 & $100 • right on $50 • “US Treasury” • Embedded security strip • $ 20 glows green • $ 50 glows yellow • $100 glows red MANUAL APPENDIX A

  30. New Currency • Micro-printing patterns (1990) • $ 20 in oval and lower left “USA 20” • $ 50 in Grant’s collar and side border • $100 in Ben’s coat and lower left

  31. The New Bills 1.Federal Reserve Note 5.Serial Number 6.Placement 9.Federal Reserve District 12.Fort Worth!! • http://www.treas.gov/usss/

  32. Source: Department of the Treasury - United States Secret Service

  33. The New Color of Money - $20 • Subtle green, peach and blue colors in background • Adds complexity to the notes • Enhanced portrait and White House • “20” in yellow covers the background • Blue Eagle in background, metallic green eagle and shield left of Jackson $20 • Watermark and security thread retained • Color shift from copper to green dramatized

  34. Currency • Cotton-linen blend with red-blue fibers • Treasury Seal: • scales for balanced budget • carpenters square for an even (fair) cut • Pyramid: • face lighted but (unexplored) west is dark • uncapped because we are not close to finished • eye is divinity (not man alone) • clouds are rolling away - i.e. clearing

  35. Currency Lingo • Annuit Coeptis • “God has favored our endeavor” • Novus Ordo Seclorum • “a new order has begun” • E Pluribus Unum • “one nation from many people” • MDCCLXXVI

  36. Currency • The bald eagle • never afraid • strong and smart to fly above • wears no crown • shield is unsupported by a king • Olive branch and arrows • wants peace but willing to defend freedom • 13 stars for the original 13 colonies

  37. Coins • Minted in • Philadelphia, Denver, San Francisco and West Point • Backed by precious metals kept at • Fort Knox and West Point Depositories • Seven types • Smooth or ridged edges

  38. When taking cash closely note • The numeric value on each corner • The value written out across the bottom • The Federal Reserve Seal • The unique serial number in two places • The four Federal Reserve bank numbers MANUAL PAGE: 6

  39. Counting Money

  40. Counting is 1 - 2 - 3 • 3 Three Ways to Count • 2 Two Counts on Each • (Double Count) • 1 One Total MANUAL PAGE: 06

  41. Three Ways to Count • Hand to Hand • Hand to Table • Walk Through

  42. Hand to Hand Method • Separate bills • all bills facing up • smallest denomination on top • Hold in one hand • Transfer bills separately to other hand • Look at each bill • COUNT AGAIN • Get two counts that agree! MANUAL PAGE: 6

  43. Hand to Table Method • Same as hand to hand • pile bills facing up with smallest on top • Place funds on table not in customer’s hand • Count once into your hand • Count twice onto the table or counter

  44. The Walk Through Method • Stack denominations face-up • Count with thumb and forefinger • Check each bill • Count twice for same total • Counting machines MANUAL PAGE: 7

  45. Making Change • Establish a routine • Two methods: • cash register calculation • counting from sale to tendered amount • Counting back • smallest coin to the largest bill • Two counts: • (1) from the cash drawer • (2) to the customer MANUAL PAGE: 8

  46. Customer Transactions • Keep $$ in view of customer • Complete transaction before securing $$ • Verify payment against invoice/bill • One customer at a time • Always give a receipt • Security MANUAL PAGE: 8

  47. General Rules that Count ... • Money is dirty - wash your hands • Count in customer’s presence • Establish a routine • Double count • Numbered receipts • Secure the area • Create dual control is possible

  48. Strapping • Count only fifty at one time • Double count • Color code or value mark • One denomination at a time MANUAL PAGE: 9

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