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G/2.2 Receipting and collection of monies |
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2.2.1 Safe custody and banking of collections 2.2.1 Safe custody and banking of collectionsStudent 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 2). 2.2.2 Cash shortages and surplusesThe Associate Director, Accounting Services, and Associate Director, Student Business Services, are required to investigate all material losses in accordance with S42 of the Financial Management Standard 1997 , and to make a written report and recommendations to the Corporate Finance Director. 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 Corporate Finance Director is required to notify the police and the Auditor-General in writing. Where official misconduct by a member of the University is indicated, the Corporate Finance Director is required to notify the Registrar who shall notify the Crime and Misconduct 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). Modification History
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