Vault Drawer

LT - Lead Teller

Overview

Office with a Lead Teller

The Lead Teller (LT) will be the vault custodian and is responsible for the safe storage of the office excess currency/coin in the Vault Drawer. A LT can choose the single control or dual control process as outlined below. If practicing dual control, the LT must be one of the dual associates for all transactions unless they are out of the office (for example: lunch, appointment, early/late). When a LT is out on PTO, FMLA or longer, dual control practice with another associate assigned as vault custodian. Anytime the vault custodian changes (a transfer of ownership) a piece count is required.

A LT can also have possession of a teller drawer or the working cash drawer.


Express Office or Office without an assigned Lead Teller

An office without a LT must assign a vault custodian who is a trained associate and who must follow ALL dual control vault processes outlined in vault cash access. A Client Experience Manager (CXM) as vault custodian can chose the single control or dual Control process as outlined below. Any other assigned vault custodian has no choice but to practice dual control, the custodian must take part in every transaction unless they are out of the office (for example: lunch, appointment, early/late). When the CXM or assigned vault custodian are out on PTO, FMLA, or longer, dual control practice with another assigned vault custodian. Anytime the vault custodian changes (a transfer of ownership) a piece count is required.

This vault custodian can also have possession of a teller drawer.

The vault drawer has no assigned limit for end of day balancing.

Note: To allow adequate time for training, offices with a new LT will appoint an acting vault custodian practicing Dual Control access with the LT, until such time as the new LT is properly trained and comfortable with ALL processes.

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Single vs. Dual Control Vault

Failure to follow Single or Dual Control procedures that results in a potential loss will be handled based on Performance Standards.

Single Control Vault

Single Control of the Vault is an option for Lead Tellers to perform daily vault duties without the requirement of a dual control associate. 

Express Office

A teller trained Client Experience Manager (CXM), when acting in the dual role of both CXM and LT, has the option to perform daily vault duties under single control or dual control with another associate.

Traditional Office

A teller trained Client Experience Manager (CXM), when acting in the role of the LT when the position is vacant, has the option to perform daily vault duties under single control Or dual control with another associate. 

Note: No single control access can be given to 2 associates at one time. Termination of single control combination access must be completed before assigning single control combination access to another associate. This requires changing of ALL combinations to areas accessible for single vault control and may require submission of a Landport request to complete.

If a LT or CXM decides to change from single control to dual control, an effective date is required to be established after consulting with their Internal Control Specialist (ICS).

The vault requires dual control access when the LT or CXM acting in the LT role, is at lunch or an appointment and returning the same day. This does not require a piece or strap count before accessing.

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Dual Control Vault

Dual control of the vault is a security process whereby the LT or designated acting vault custodian (in the absence of the LT) AND a second associate gain access for the purpose of handling daily vault transactions.

Dual control requires both associates to be actively involved in all processes, verifying and acknowledging all procedures are followed.

The vault drawer requires dual control access when the LT is at lunch or an appointment and returning the same day. This does not require a piece or strap count before accessing. 

The vault drawer requires dual control access and a dual control piece count before accessing when the LT is not available for the following reasons:

  • Leaves for the day before balancing
  • Calls in sick for the day
  • Out on scheduled PTO or FMLA
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Vault GL Tickets Requirements

Capital City Bank policy requires dual control signatures on General Ledger tickets.

Single Control Vault

The LT will sign the transaction receipt verifying the debit/credit entries and GL accounts are correct for the transaction requiring the completion of these entries.


Dual Control Vault

The Acting Vault Custodian will sign the transaction receipt along with the dual control associate; verifying the debit/credit entries and GL accounts are correct and acknowledging their involvement within the transaction requiring the completion of these entries.

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Vault Cash Access

Vault transfers from LT to a new vault custodian due to scheduled Paid Time Off (PTO) or Family and Medical Leave Act (FMLA) leave should not be performed more than 2 business days prior to the LT leave and should be transferred back to the LT within 2 business days of their return. During these periods, the LT is the dual control associate for vault transactions.

Single Control Vault

The vault drawer requires dual control access when the LT is at lunch or an appointment and returning the same day.

The vault drawer requires dual control access and a dual control piece count before accessing when the LT is not available for the following reasons:

  • Leaves for the day before balancing
  • Calls in sick for the day
  • Out on scheduled PTO or FMLA


Vault Transfer Reference Guide


The Vault Transfer Reference Guide provides examples of proper completion of the Vault Balance Sheet when performing transfers.

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Piece Count Requirements

The vault drawer requires dual control access and a dual control piece count before accessing when the LT is not available for the following reasons:

  • Leaves for the day before balancing
  • Calls in sick for the day
  • Out on scheduled PTO or FMLA

A dual control piece count of all vault cash (currency and coin) is required to be counted as detailed below:

  • The cash count is required to be recorded on the Vault Sheets. 
  • Two associates must perform a dual control piece count of all currency except ones and twos.
  • Coin Verification
    • Boxed Coin (sealed and rolled) - Verified by total of box.
    • Tray Coin (rolled) - Verified by individual rolls.
    • Loose Coin (sealed bag) - The declared amount must be written on the outside of the bag. A tag affixed to the bag must contain the amount, date and client information.
  • A balance tape showing counted cash must be attached to the back of the completed vault balance sheet.

 

Note: The vault is now considered a dual control vault and is to be accessed under dual control by the acting vault custodian and another associate until the LT returns.

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Vault Strap Discrepancy - Piece Count

If during a vault piece count it is discovered that a strap is short or over, the outage is processed in the vault drawer as follows:

  • Run a vault cash in or out with an Over/Short GL transaction
  • Sell the over or short strap(s) to the LT or other teller for the amount contained in the strap.
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Vault Drawer - Buy/Sell Transactions 

The LT or designated associate must ensure the cash transaction receipts are placed in the central location where Cash Buy/Sell transaction receipts are retained each day.

Each Vault buy and sell transaction must be processed individually in the vault drawer as they occur by the LT (Single Control Vault) or the acting vault custodian (Dual Control Vault).

All cash bought and sold to the vault must be entered and processed with the speed key specified for the transaction. Enter the cash totals by denomination in the cash count screen.

Teller

  • Speed Key 3 - Teller Buy Cash
  • Speed Key 4 - Teller Sell Cash

US Bank

  • Speed Key 8 - US Bank Buy Cash
  • Speed Key 9 - US Bank Sell Cash

Any corrections necessary for current day transactions may be deleted and re-entered correctly as applicable. 

Note: Access to the vault drawer in the Teller System must only be under the sign-on of the LT (Single Control Vault) or the acting vault custodian (Dual Control Vault).

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Vault Balance Sheets & End of Day Count 

A record of vault cash (currency and coin) and vault transactions is required for each business day even when no transactions have occurred. 

Vault cash totals and transactions are recorded on the Vault Drawer Balance Sheet, Vault Buy Cash Sheet, and the Vault Sell Cash Sheet.

Note: If no buy/sell transaction, only the signed Vault Balance Sheet is required.

The sheets are located in HelpU - Forms & Document Library.  When you open to view the electronic Vault Sheets file, each sheet is identified on a designated tab at the bottom of the screen; Buy Cash Sheet, Sell Cash Sheet, and Vault Balance Sheet. 

Before performing the end of day strap count on the vault:

  • Confirm that all vault buys and sells for the day have been transacted in the Teller system.
  • Take the system trial balance/balance tape AND the Vault Balance Sheets into the vault.
  • Use both to compare denomination counts and total cash.
  • If there is a discrepancy between the two, the vault cannot be shown as being in balance until the discrepancy is fixed and both match.


Single Control Vault 

Even if there are no transactions, the LT must perform a single control strap count of all vault currency and coin daily and record on the totals on the Vault Drawer Balance sheet. 

Vault sheets must be completed electronically by the LT and signed by the LT. The electronic sheets can only be completed at a PC where the Excel program is located (for example: LT computer/terminal, Personal Banker computer).

Complete each sheet and section as applicable. Manual (hand written) vault sheets may only be used in the circumstance when HelpU is not available to be accessed (for example: disaster recovery/system down).

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Dual Control Vault

A dual control strap count of all vault currency and coin is required by the acting vault custodian and a dual control associate, regardless if there have been any transactions. Each associate must be fully engaged in the daily strap count.

Vault sheets must be completed electronically by the acting vault custodian and signed by the acting vault custodian and the dual control associate.

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Vault Strap Discrepancy during Piece Count

If during a vault piece count it is discovered that a strap is short or over, the outage is processed in the vault drawer as follows:

  • Run a vault cash in or out with an Over/Short GL transaction
  • Sell the over or short strap(s) to the LT or other teller for the amount contained in the strap.
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End of Day Vault Drawer Balance

The LT (Single Control Vault) or acting vault custodian (Dual Control Vault) must log into the Vault Drawer on the specific day to balance the vault drawer; regardless if there have been any transactions.

  • Balance the vault drawer daily using the Count (F8 key) screen, even if there are no Vault buy/sell transactions.
  • Enter each denomination in the appropriate field within the compartment based on the end of day vault currency/count performed.
  • Print the Balance and Counted Cash totals on the journal tape (for example: Beginning Amount, Cash In, Cash Out, Current Cash and Counted Cash).
  • Attach the printed totals to the back of the Vault Balance Sheet.
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Daily Vault Balance Sheet Completion

Requirements include:

  • Office Name and Date
    • The office name and date will automatically populate to the Buy/Sell Cash Sheets.
  • Indicate Single Control Vault or Dual Control Vault
  • Indicate the type of Cash Count performed (piece count, strap count)
  • The Beginning Balance, +Cash In, -Cash Out, and Ending Balance of each denomination. 
    • The sheet is automatically pre-filled with zeros in the beginning and ending balance column of each denomination (for example: $0.00).
  • The Counted Cash Totals of each denomination.
  • The Vault Totals recorded under: 
    • Vault Beginning Balance
    • Cash In/Out Totals
    • Vault Ending Balance
    • Counted Cash Totals
  • The Ending Balance of each denomination and the Vault Ending Balance is carried over to the next business day as beginning balances on the Vault Balance Sheet.
  • Attach the US Bank packing slip (when applicable) to the Vault Balance Sheet.


Signature Requirements

Single Control Vault - LT signature

Dual Control Vault - acting vault custodian and dual control associate.

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Vault Buy / Sell Cash Sheet 

Vault buy cash transactions are recorded on the Vault Buy Cash Sheet. Vault sell cash transactions are recorded on the Vault Sell Cash Sheet. The transaction(s) must be recorded on the buy/sell sheet(s) as they occur.

  • Enter the denomination amount(s) of each transaction on the Buy Cash Sheet or Sell Cash Sheet.
  • Enter the teller #.
  • The sheet is set-up to automatically pre-fill the following information:
    • Transaction Total, Total, Total Cash In, Total Cash Out.
  • The buy/sell information and totals automatically populate to the Vault Balance Sheet.
  • Print the completed sheets. 
    • If no transactions for the day, only the Vault Balance Sheet is required to be printed.
  • A Balance tape showing Counted Cash must be attached to the back of the Vault Balance sheet.
  • Sign the Vault Balance Sheet based on Single Vault Control or Dual Vault Control.
  • Place the Vault Balance Sheet, Buy and Sell Cash Sheets (if applicable) and attachments in the designated notebook. 
    • Retain the vault sheets and attachments 2 years.


Note: If it's discovered that there is an error on the vault balance sheet after it is printed and signed, it must be redone. Do not use white-out, cross through entries, or handwrite entries.

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