1.0 Reason for Policy

1.1 To establish cash management practices for the effective safekeeping of, and accounting for, all monies received by the University of Manitoba regardless of the method of payment, and to establish guidelines for the issuance and control of cash receipts.

2.0 Policy Statement

2.1 Cash is defined as all forms of payments received by the University including cash, cheques, money orders, bank drafts, wire transfers, debit card transactions and credit card transactions.

2.2 All departments of the University whose activities include the acceptance and handling of cash on the University’s behalf are responsible for ensuring that:

(a) adequate controls and procedures are in place to safeguard cash from
time of receipt to time of deposit to a University authorized bank account through Financial Services;
(b) all cash and receipts are properly recorded and accounted for; and
(c) customer payment information is stored in a secure manner.

2.3 This policy applies to all forms of payment whether received in person, on the phone, by mail, by e-mail, by fax, via the internet, or by other verbal, paper, or electronic medium.

3.0 Accountability

3.1 The University Secretary is responsible for advising the President that a formal review of the Policy is required.

3.2 The Comptroller is responsible for the communication, administration and interpretation of this Policy.

4.0 Secondary Documents

4.1 The Vice-President (Administration) may approve Procedures which are secondary to and comply with this Policy.

5.0 Review

5.1 Formal Policy reviews will be conducted every ten (10) years. The next scheduled review date for this Policy is August 12, 2018.

5.2 In the interim, this Policy may be revised or rescinded if:

(a) the Approving Body deems necessary; or
(b) the relevant Bylaw, Regulations or Policy is revised or rescinded.

5.3 If this Policy is revised or rescinded, all Secondary Documents will be reviewed as soon as reasonably possible in order to ensure that they:

(a) comply with the revised Policy; or
(b) are in turn rescinded.

6.0 Effect on Previous Statements

6.1 This Policy supersedes the following:

(a) all previous Board/Senate Policies, Procedures, and resolutions on the subject matter contained herein; and
(b) all previous Administration Policies, Procedures, and directives on the subject matter contained herein;
(c) Policy 306 University Receipts.

7.0 Cross References

Cross referenced to: Cash Control Procedures