The following guidelines apply to all Centerplate units in an effort to mitigate cash handling risks locally with the expectation that any exceptions to these guidelines require prior approval from Corporate Treasury.
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Cash Policy
Any individual event deposit, or combination of deposits, that exceeds $100K should be bundled and ready for pickup by armored car service at the end of the event, or by 10:00 am the following day. Under no circumstances, should the deposit be held at the unit location more than 24 hours after the event. Exceptions require prior approval from Corporate Treasury.
For those units with anticipated cumulative deposits of $25K to $99K, armored car pickups should be scheduled no later than 10:00 am on Monday and Thursday of each week.
All units with cash deposits less than $25K will have armored car pickup at least once per week with the pickup day determined by the cash trend, i.e. the pickup should occur following the day generating the largest cash flow.
Units not currently serviced by armored car should solicit pickup service wherever possible. For those where service by armored car is not a viable option, the above logistical guidelines apply to your operation and current method of deposit.