1 Policy Statement

All University monies will be collected, receipted and banked promptly.

Managers shall employ adequate measures of control, at all times, over all University monies received, ensuring the security of the funds, whether prior to being recorded or recorded and held prior to banking.

Managers responsible for the section which receives these University monies are ultimately accountable for the protection of these monies.

Under no circumstances shall University monies ever be intermingled with personal monies of staff or applied for private purposes even on a temporary basis.

The only cash (notes and coins) accepted by the University is Australian currency (AUD).

2 Principles

Managers of each section are responsible for developing effective controls and procedures over the collection of monies, protection of monies once collected, and the subsequent delivery of monies to the Cashier, Financial and Business Services or if an “Authorised Section”, to deposit the monies directly into the University’s daily operating bank account.

Director, Financial Operations will be responsible for developing effective controls and procedures over the collection of monies at the Cashier, Financial and Business Services, protection of monies once collected, and the deposit of monies into the appropriate University bank account.

Every officer involved in the collection, holding, receipt and/or banking of University monies will personally be responsible for safeguarding those monies whilst in their possession.

3 Procedures

3.1 Issuing of Receipts

Only official University receipts, approved by the Chief Financial officer, will be issued and they will be pre-numbered or system sequentially numbered.

Financial Services, USQ Bookshop, USQ Residential Colleges, Springfield Campus, Fraser Coast Campus, QCWT, USQ Security, USQ Health Services and USQ Library will issue system or cash register generated receipts.

Official University Manual Receipts may be issued during system down times, special events or by sections (Collection Points) requiring this service.

Financial Services will maintain a Manual Receipts Register. The staff member applying for the Manual Receipt Book must:

• sign the register when collecting the book;

• accept full responsibility for the security of all monies they collect;

• accept responsibility for correctly completing the receipt details and issue the receipt to the payer immediately;

• ensure the monies and the Manual Receipts are entered into a Monies Received Register;

• deliver copies of the Manual Receipts and monies, together with the Monies Received Register, to the Cashier, Financial Services on the same day the monies were received or the next working day;*

• not reassign the Manual Receipt Book to another staff member; and

• return the Manual Receipt Book to Financial Services, when fully used or on departure from the University.

*In exceptional circumstances, the Chief Financial Officer may consider written applications to vary this timing, where the risk is low and it is impractical to perform this task daily.

3.2 Monies Received Register

A Monies Received Register (formerly known as a Cash-by-Post Book) will contain the following information:

1. The name of the Faculty/Department.

2. Date of receiving the monies.

3. Student ID/Employee ID/Customer No (if applicable)

4. Details of Payee (payment made by)

5. Transaction Type (cash, cheque, credit card etc)

6. Amount of Payment

   • GST Exclusive Amount “A”

   • GST (if applicable) “B”

   • Total payment “A” plus “B”

7. Details of the Payment (USQ Invoice number, Manual Receipt Number, or the full details to be shown on the receipt)

8. USQ Chartfields

   • Account

   • Dept ID

   • Program

   • Project (if applicable)

9. Initials (of the University officer recording the details)

10. Finance Use Only Section

    • Official University PeopleSoft Receipt Number

    • Initials (of the Financial Services Cashier accepting the funds and creating the official record)

3.3 Authorised Sections

The Chief Financial Officer may approve sections of the University as Authorised Sections to accept monies, issue official receipts and bank monies on behalf of the University.

In approving areas to be Authorised Sections, the Chief Financial Officer shall evaluate the ability of the section to:

• institute the controls required to safeguard University monies and staff involved in the receipting, holding and banking of these monies;

• develop procedures for the collection, receipting and subsequent banking of the monies, and review these procedures on a regular basis;

• train staff in the correct procedures to follow;

• ensure staff are advised of their responsibilities in handling monies and the importance of complying with established procedures;

• ensure staff possess the skills and personal integrity required for handling monies so as to minimise the possibilities for fraud and/or error to occur;

• segregate duties where staff numbers permit;

• ensure cheques are stamped “Not Negotiable Credit University of Southern Queensland”;

• generate sequentially numbered core system receipts or approved system receipts and immediately issue the receipt to the payer;

• ensure systems are backed-up daily and/or appropriate record keeping is maintained;

• develop cash handling procedures including maintaining separate cash floats and reconcile these daily;

• balance daily takings and produce banking and reconciliation reports suitable to meet audit requirements;

• generate daily system banking journals for upload into the Financial Services PeopleSoft System or generate daily banking reports and forward these electronically to the University’s Banking Officer, Financial Services via usqdebt@usq.edu.au;

• identify, investigate and report all tender type deficiencies in daily takings (Refer 3.8 Cash Shortages); and

• bank monies daily into the University’s daily operating bank account.*

*In exceptional circumstances, the Chief Financial Officer may consider written applications to vary this timing, where the risk is low and it is impractical to perform this task daily

Officers of the University who have not been trained to collect University monies will not collect such monies.

3.4 Collection Points

The Chief Financial Officer may approve sections of the University as temporary Collection Points.

In approving areas to be Collection Points the Chief Financial Officer shall evaluate the following:

• the overriding reason for the monies to be collected in this section, and the reasons why the monies are collected in this area rather then directly at the Cashier, Financial Services;

• the ability of the section to institute the controls required to safeguard University monies; and

• the ability of the section to ensure all monies are delivered to the Cashier, Financial Services on the same day as they were received or on the next working day.

Officers of the University who have not been trained or authorised to collect University monies will not collect such monies. Officers will redirect those wishing to make payments to the Cashier, Financial Services.

Where a Collection Point receives University monies either in person or by post, Managers will ensure these monies are immediately recorded in a Monies Received Register and the monies and register are delivered to the Cashier, Financial Services on the day the monies are received or the next working day*.

Managers of each section collecting monies will regularly review and test the controls and ensure the documents relating to the controls and procedures are current.

Managers of each section are responsible for ensuring that all personnel involved in the process of handling University monies:

• are trained in the correct procedures to follow;

• are advised of their responsibilities in handling monies and the importance of complying with established procedures; and

• possess the skills and personal integrity required for handling monies so as to minimise the possibilities for fraud and /or error to occur (Refer 3.8 Cash Shortages).

*In exceptional circumstances, the Chief Financial Officer may consider written applications to vary this timing, where the risk is low and it is impractical to perform this task daily.

3.5 Cashier, Financial Services

The Director, Financial Operations shall, in overseeing the positions of the Cashiers and Banking Officers in Financial Services:

• institute the controls required to safeguard University monies and staff involved in the receipting, holding and banking of these monies;

• develop procedures for the collection, receipting and subsequent banking of the monies, and review these procedures on a regular basis;

• train staff in the correct procedures to follow;

• ensure staff are advised of their responsibilities in handling monies and the importance of complying with established procedures;

• ensure staff possess the skills and personal integrity required for handling monies so as to minimise the possibilities for fraud and /or error to occur;

• segregate duties where staff numbers permit;

• ensure cheques are stamped “Not Negotiable Credit University of Southern Queensland”;

• generate sequentially numbered core system receipts or approved system receipts and immediately issue the receipt to the payer;

• ensure systems are backed-up daily and/or appropriate record keeping is maintained;

• develop cash handling procedures including maintaining separate cash floats and reconcile these daily;

• balance daily takings and produce banking and reconciliation reports suitable to meet audit requirements;

• generate daily system banking journals for upload into the Financial Services PeopleSoft System or generate daily banking reports and forward these electronically to the University’s Banking Officer, Financial Services;

• identify, investigate and report all tender type deficiencies in daily takings (Refer 3.8 Cash Shortages); and

• utilise the services of a professional security service to bank monies daily into the appropriate University bank account.

Officers of the University who have not been trained to collect University monies will not collect such monies.

3.6 Tender Types

The University accepts the following tender types on the following conditions:

3.6.1 Cash

• Australian (AUD) notes and coins only. (Foreign currency cash and/or notes will not be accepted under any circumstances).

3.6.2 Australian Cheques (personal and bank)

• Must be made payable to “University of Southern Queensland”. (Do not include Faculty/Department/Event details)

• Cheques will not be accepted if they are post dated.

• Cheques are accepted subject to clearance of funds.

• Change will not be given for cheques nor will cheques be cashed.

3.6.3 Australia Post Money Orders

• Must be made payable to “University of Southern Queensland”. (Do not include Faculty/Department/Event details)

• Change will not be given for money orders nor will money orders be cashed.

3.6.4 Australian Bank Transfers

• Australian Bank Transfers are accepted on the condition the payee is clearly identifiable.

• Australian Bank Transfers from students must include their Student ID as a reference number and the student must, at the time of transfer send an email to usqdebt@usq.edu.au giving full transfer details.

3.6.5 International Bank Drafts

• Must be made payable to “University of Southern Queensland”. (Do not include Faculty/Department/Event details).

• International Bank Drafts must be drawn in Australian Dollars (AUD).

• International Bank Drafts must be cleared via an Australian Bank.

• International Bank Drafts are accepted subject to the clearance of funds.

• Funds from International Bank Drafts must be immediately available and without loss of exchange.

• Change will not be given for International Bank Drafts.

3.6.6 International Telegraphic Transfers ( TTs or wires)

• International Telegraphic Transfers are accepted subject to the clearance of funds.

• Funds from International Telegraphic Transfers must be immediately available and without loss of exchange.

• International Telegraphic Transfers are accepted on the condition the payee is clearly identifiable.

• International Telegraphic transfers from students must include their Student ID as a reference number and the student must, at the time of transfer send an email to usqdebt@usq.edu.au giving full transfer details.

3.6.7 University Merchant Facilities (EFTPOS, credit cards, debit cards)

All University Merchant Facilities are subject to the prior approval of the Chief Financial Officer and all funds must clear on the University’s daily operating bank account.

• EFTPOS cards must be presented in person.

• The University accepts MasterCard, VisaCard and American Express (Amex) Cards only.

• There will be no ‘cash-out’ facility and/or change given for EFTPOS, credit card or debit card transactions.

• Photographic identification may be required prior to acceptance of an EFTPOS card, a credit card or a debit card.

• Daily and/or monthly card limits are the responsibility of the payee.

• Declined transactions remain the responsibility of the payee.

• All Merchant Facilities will be settled daily and the associated supporting documentation sent to usqdebt@usq.edu.au daily/weekly as approved.

• Credit card details will not be captured or stored electronically in unsecured spreadsheets or databases. All electronic storage of credit card details will be subject to the Payment Card Industry Data Security Standard (PCI DSS) as it applies to the University.

3.7 Methods of Accepting Payments

3.7.1 Payments Received by Mail

CAMPUS SERVICES: Mail received in the University’s Stores and Distribution and containing University monies, will be opened in the presence of two officers and cheques will be stamped “Not Negotiable Credit University of Southern Queensland”. Similar tender types will be ‘strip-listed’ and totalled in the Monies Received Register. The Monies Received Register will be signed by the two officers and delivered to the Cashier, Financial Services on the same day the mail is opened.

ALL OTHER SECTIONS RECEIVING MAIL (Other than Authorised Sections): Where practical, mail received in other sections of the University will be opened in the presence of two officers. Details of the payment will be recorded in a Monies Received Register. The Monies Received Register will be signed by the officer(s) and delivered to the Cashier, Financial Services on the same day the mail is opened.

3.7.2 Online Payments

The Chief Financial Officer will only approve Online Payment methodologies that meet the PCI DSS standards and all funds must clear on the University’s daily operating bank account.

All online payment gateways will:

• not transfer any credit (or debit) card details to the University.

• ‘link’ the external provider to internal system(s) ensuring each payment has been approved and subsequent receipt/income (and associated taxes if applicable) identified in the University’s financial systems.

3.7.3 Payments Received by Telephone

A written record (not electronic) will be retained and the caller will be advised why the personal information is being collected, in accordance with the University’s privacy statement.

The written record will include:

• The Student ID/Employee ID/Customer No (if applicable)

• Name of the Student/Debtor/Payee

• Details of the payment being made (description of goods/services)

• Amount of the transaction

• Type of credit (debit)card

• Card number

• Card Expiry Date

• Cardholder’s Name

• Cardholder’s address (if different to the Student/Debtor)

• Daily telephone contact number

• Signature of the University staff member recording the transaction

• Date of the transaction

• Wherever possible, the transaction will immediately be processed whilst the caller is on the telephone so payment can be confirmed.

3.7.4 Payments Received by Cash Register

As a minimum University Cash Registers will contain the following features:

• Paper or electronic journal roll (or similar) that records and retains all transactions including sales, refunds, returns, voids, discounts, charge sales and account receipts.

• An auto-incrementing receipt numbering system.

• Z Report (or similar) enabling each tender type and sale (or department) category to be reconciled to the daily takings.

As a minimum Cash Register receipts will include:

• The University’s name (or registered trading name).

• The University’s ABN and the words “Tax Invoice”.

• The campus (or location) specific address.

• The name of register e.g. USQ Bookshop and/or till number.

• The Date of the receipt and receipt number.

• The Loggin-in operator.

• The Amount, tender type, sale and GST details.

3.8 Cash Shortages

The Chief Financial Officer is required to investigate all material cash shortages (losses) in accordance with Sections 21 and 22 of the Financial and Performance Management Standard 2009. A written record of the loss will be retained including details of the following:

• The amount of cash (or other monies) missing;

• The reason for the loss (shortage); and

• The action taken about the loss, including but not limited to, review of faculty/department processes/procedures, security of monies, action taken to recover the loss (if applicable).

Where the shortage is a result of Official Misconduct under the Crime and Misconduct Act 2001 the Chief Financial Officer will report the matter to the Chief Operating Officer for action under the University’s Fraud and Corruption and Control Management Policy.

4 References

Crime and Misconduct Act 2001(Section 15)

Financial Accountability Act 2009

Financial and Performance Management Standard 2009

PCI Data Security Standard (PCI DSS)

Queensland Government Financial Accountability Handbook

5 Definitions

6 Other Policy Information