Established: February 20, 1974
Last Updated: December 1, 1983
Class: G
1. Purpose
The intent of this policy is to provide general criteria to ensure adequate control and security over all cash handling and banking operations of the University.
2. General
- Procedures will be issued governing the collection, control and security of cash. New or revised systems require approval prior to implementation.
- Adequacy and necessity of storage facilities where cash is held in safekeeping will be determined.
- Issue of approved University receipts for monies received by the University will be controlled.
- Necessity and amount of change funds, cash advance funds and petty cash funds will be determined.
- Schedules for the transportation of cash and vouchers to the University bankers will be determined.
- Compliance with the appropriate resolutions of the Signing Committee of the Board of Governors will be ensured.
- Adequacy of insurance coverage over cash handling operations of the University will be determined.
3. Responsibility
The application and interpretation of this policy is the responsibility of Vice-President, Administration & Finance and the necessary controls and procedures shall be established by the Vice-President, Administration & Finance and applied through Financial Services.