Manual of Policies and Procedures

G/2.2 Receipting and collection of monies

Contact Officer

Executive Director, Finance Resource Management

Approval Date

19/06/2008

Approval Authority

Chief Financial Officer

Date of Next Review

01/06/2011

2.2.1 Safe custody and banking of collections
2.2.2 Cash shortages and surpluses
Modification History

2.2.1 Safe custody and banking of collections

Student Business Services, through its Campus Cashiers, is responsible for the receipting of money for the University on each campus.

Other collection points at "Point of Sale" may be set up with the prior approval of the Associate Director, Accounting Services.

The officer in charge of each unit approved as a collection point for University monies is responsible for the safe custody of such monies until deposited into the authorised bank accounts of the University.

As a general principle, all collections must be deposited daily to University bank accounts and deposited intact except in exceptional circumstances. On no account should University monies be intermingled with personal money of staff, or applied for private purposes, even on a temporary basis.

Detailed procedures for the receipting of funds can be found in the Financial Management Practice and Procedures Manual (Chapter 3).

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2.2.2 Cash shortages and surpluses

The Director, Finance Operations, and Associate Director, Student Business Services, are required to investigate all material losses in accordance with Financial and Performance Management Standard 2009 Sections 21 and 22, and to make a written report and recommendations to the Executive Director, Finance Resource Management. Should such a report indicate that a loss may have been due to an offence under the Criminal Code or any other Act or law, the Executive Director, Finance Resource Management is required to notify the police and the Auditor-General in writing. Where corrupt conduct by a member of the University is indicated, the Executive Director, Finance Resource Management is required to notify the Vice-President (Administration) and University Registrar who shall notify the Crime and Corruption Commission.

Approval to write off cash shortages is in accordance with the delegated authorities to write off assets - see Appendix 3 .

The Associate Director, Accounting Services ensures that all material shortages are recorded in the Record of Material Losses (Cash).

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Modification History

Date

Sections

Source

Details

10.07.18 All Vice-Chancellor and President Revised policy to include department name change from Corporate Finance to Finance Resource Management

19.06.08

All

Acting Executive Director, Finance and Resource Planning

Policy reviewed – no change required

06.09.05

All

Executive Director, Finance and Resource Planning

Policy updated and renumbered to G/2.2 (formerly G/2.11 and G/2.12)

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