The University of New South Wales - Finance

 

5.1.1 Custody and issue of keys
Treasury maintains a key register. All issued keys, security swipes and alarm access are to be recorded in this register. The register is to be maintained by the assistant to the Manager of Treasury. The register is to be locked in the Cashier's safe at all times.
The Manager of Treasury is responsible for the issue of keys, swipe card and alarm access. The register is to be signed by the Manager of Treasury on issue of keys and return of keys. The employee receiving/returning keys should also sign-off the register.

 

5.1.2 Safeguarding computer records and installations
Treasury banking currently sits on its own server. The Treasury Manager should ensure that the Treasury server is backed up daily. The Treasury Manager should ensure all records are retained in a safe, secure area, so that in the event that files are destroyed, files can be regenerated.

5.1.3 Storage of Accountable Documents
The Treasury Manager should ensure all accountable edocumentation (cheques, draft stationary and manual receipts) are secured away and processes are in place to ensure sequence numbering is consistent.

5.1.4 Processing of Financial Documents
In the processing of claims, vouchers, other financial documents and in all accounting and related entries, pencil shall not be used. Also brown or green ink shall not be used as these colours are reserved for use by officers of the Auditor's team.
Erasures (including use of correction fluids or chemicals) are not permitted in any books of account. Where a correction is necessary the word or figure to be removed shall be ruled through and the correction initialled by the officer making it.

5.1.5 Destruction of Accounting Records
Accounting records, other than those listed below, shall not be destroyed without the specific approval of the Treasury Manager.
The records listed below may be destroyed after they have been retained for the required minimum period. The minimum period commences from the date of the last transaction entered in the records. Unless otherwise stated, the list refers to original records. Copies may be destroyed at the convenience of the Manager.
Records which may be destroyed after a period of seven years:

 

The authority to open official bank accounts is delegated to Verified Officers as appointed by the Vice-Chancellor. Correspondence between the Univeristy and the banks shall be signed by the Verifying Officers concerning:

Copies of all requests to banks to open or close bank accounts shall be forwarded to the Financial Controller.
Bank accounts are currently held with:

5.2.2 Banking
Collections of cash or cheques amounting to $20,000 or greater, should be banked on the day of their receipt.
Cash and cheques are to be banked, no late than the day after collection. They are to be kept in the safe over-night and only taken out of the safe at the time of banking.
Two staff members are to take banking to the Commonwealth Bank on campus.

 

5.2.3 Cashier Office
The Cashier's office acts as a collection point for the receipt and acknowledgement of payments for a wide range of services provided by the University.
Cash, cheques, bank drafts, travellers' cheques and money orders must be counted and secured in a lockable area, separate from the service desk. Cash, cheques, bank drafts, travellers' cheques and money orders received by University staff, must be held securely at all times.
All cheques, bank drafts, travellers' cheques and money orders received, should be crossed "The University of New South Wales - Not Negotiable - Bank Account only", immediately on receipt.
Cashiers are responsible for collecting and receipting University receivables and for custody of those receipts until deposited in the University bank account. On a daily basis monies collected is to be deposited in the University bank account.
University monies must never be mixed with personal money of staff. University monies must never be used for private purposes.
All University monies received by the Cashier's Office, are recorded through the One-Stop Receipting System. At the end of day, all monies receipted should be reconciled to the receipts in One-Stop. Where any discrepancies occur, a second staff member should be called in to check the reconciliation, and the Treasury Manager should be notified immediately. Discrepancies should be recorded in the Discrepancy Register.

 

5.2.4 Types of Remittances
The University collects payments through the Cashier's Office as:

Cheques, travellers' cheques, bank drafts and money orders are only accepted if:

Credit and debit card EFTPOS transactions are validated by entering a PIN code in the presence of the Cashier. Where the credit card does not require a PIN the validation slip is to be signed by the customer in the presence of the Cashier. The Cashier is to match this signature to the signature on the back of the card.

5.2.5 Unidentified and Surplus Remittances
All unidentifiable and surplus remittances should be banked and credited to a suspense account until investigated. Upon completion of investigation, funds should be transferred to an appropriate activity centre, or refunded to the sender.

5.2.6 Issuing of Receipts
Receipts are produced by the One-Stop Receipting System, used by the Cashier's Office at the time of deposit.
Deposits received direct to bank accounts are to be processed through the One-Stop system on the day the information is collated and presented to the Cashier.
Manual receipts are available in the event that One-Stop is out of action.

5.2.7 Banking Discrepancies
In the event that there is a discrepancy between the receipted amount and the banked amount, the Treasury Manager is to be advised immediately. The Manager should then report the discrepancy to the Director, Accounting Services.

5.3 Allocating Receipts
The day following receipt of monies, the Revenue Summary sheet is to be completed and reconciled to the cashier's daily summary sheet.
Debtor receipts are to be collated and forwarded to Accounts Receivable.
Student fees, student loans and student scholarship receipts are to be processed by the appropriate treasury officer.
Where receipts have been posted, dummy batches are to be included in all batches sent to the input clerk, along with the Revenue Summary sheet. All receipting is to be processed within 24 hours of receipt.

5.4 Dishonoured Cheques
On notification that a cheque has been dishonoured, Treasury process a journal reversing the original L20 and notifies the Faculty/Division the cheques relates to. The Faculty/Division is responsible for contacting the cheque drawer.
Treasury will only receipt a bank cheque, money order, or cash for replacement of the dishonoured cheque.