Embedded Files
Check out the monthly recent updates here!
What are "funds"?
What are "funds"?
Funds include coins, currency, checks, money orders, traveler’s checks, credit cards, Hokie Passport and electronic funds transfers provided to the university, whether in exchange for goods or services or as agent for approved organizations.
Visit the Bursar's Office webpage and review policies and procedures for faculty/staff.
The purpose of policy Funds Handling and Deposit of State and Local Funds is to define the requirements for all departments involved in funds handling activities and to address the following key elements:
Establish the minimum internal controls required for the funds handling process to ensure proper safeguards and to minimize the risk of loss of funds due to theft or mishandling.
Define minimum standards for the collection, deposit, recording, and reconciliation of funds.
Establish clear roles and responsibilities in the funds handling process and for opening and managing university depository account(s).
Training
Training
Use the registration links provided to register for Accounts Receivable Training!
Ask to see your department's Funds Handling Plan.
Questions to Ask Yourself:
Is the funds handling plan approved by the Bursar?
Is the approved plan being followed?
Are duties between Cashier, Depositor, and Reconciler adequately separated?
Are funds safeguarded appropriately?
Are funds being deposited timely?
Report abuse