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Office of FINANCIAL SERVICES

Staff responsibilities for revenue collection and control

A significant amount of money is collected, receipted and remitted by financial units. Any employee collecting, receipting and remitting monies is deemed to be an Accounting Officer under the provisions of the Public Finance and Audit Act 1983, and therefore may be held responsible for any losses incurred.

Where practicable, financial units should direct that all remittances be forwarded to the Cashier, Revenue section, Office of Financial Services.

Responsibilities of accounting officers

The following instructions comply with the Treasury Directions of the Public Finance and Audit Act 1983.

Monies due:

Accounting officers must take all reasonable steps to collect money due to the University.

Private monies:

Accounting officers must not mix private monies with University monies under their control or exchange University funds for any cheque for any person.

Accounting officers must not keep any private monies or documents in any official safe, strongroom or bank account, nor shall they permit any private monies or documents to be housed in an official safe, strongroom or bank account.

Recreation leave:

All officers who normally handle cash or securities should take recreation leave, at least once each year, for a minimum period of two consecutive weeks, and another officer should act in the position during that period.

Daily banking:

Officers must either bank collections from all sources amounting to $100 or over  to a University Bank account or forwarded collections to the Cashier, Revenue section, on the day of receipt. 

All collections must include all sums received up to the latest possible time.

All collections received after that time must be included in the subsequent day's remittance to the Cashier or deposit at bank.

Secure area:

No collections shall remain un-remitted for a period in excess of one week, during which time they are to be properly secured in a lockable, secure area. Access to that secure area is to be restricted to the person responsible for banking and to the Head of the financial unit.

Retention of records:

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