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#1452699 - 10/06/10 10:03 PM cash reccomendation
seas78 Offline
New Poster
Joined: Apr 2004
Posts: 20
Just looking for some opinions. I completed a cash count at one of our branches & they have several "misc" amounts that are carried over each day. Money legitimately in the vault, but not being circulated, & will never be circulated. IE: Old bills that have been set aside light years ago, money that a bar brought in with names written on the bills-- does not meet criteria to be considered mutilated, yet they do not want to give to customers.. Should I comment on these carryovers since it is likely cash that will be brought forward to the end of time & ask that adjustments be made or should I just let it be since the cash is there & the vault balances?

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Audit
#1452844 - 10/07/10 02:15 PM Re: cash reccomendation seas78
Georgia Plum
Unregistered

What do you mean by old bills that have been set aside light years ago? Why wouldn't money that is written all over not be considered mutilated? Can't they contact Fed and let them know they're sending it back as mutilated?

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#1452910 - 10/07/10 02:55 PM Re: cash reccomendation
edAudit Offline
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edAudit
Joined: Jul 2008
Posts: 4,796
You are here
Old bills that have been set aside light years ago, money that a bar brought in with names written on the bills-- does not meet criteria to be considered mutilated,


The new term would be Unfit.

Send it back. If the funds have not been used in "lightyears' is it possible that the Vault limit is to high?
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#1453167 - 10/07/10 07:36 PM Re: cash reccomendation edAudit
Southern gal Offline
Platinum Poster
Joined: Mar 2008
Posts: 504
TN
I agree, someone hasn't been doing their job by not sending this currency to Fed. We had the same problem come up last year, head tellers were using various excuses for not shipping the currency. Bite the bullet, site the finding, and recommend the currency be shipped, then recommend changes to procedure.

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