G/2.2 Receipting and collection of monies
Policy Owner | Executive Director, Finance and Deputy Chief Financial Officer |
Approval Date | 19/06/2008 |
Approval Authority | Vice-President (Finance) and 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).
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).
Modification History
|
Date |
Sections |
Source |
Details |
| 26.07.22 | All | Vice-Chancellor and President | Revised to update position title from Chief Financial Officer to Vice-President (Finance) and Chief Financial Officer |
| 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) |