Cash Handling Policy

Help for non-English speakers

If you need help to understand the information in this policy please contact Glen Waverley South Primary School on 03 9560 6371.

 

Purpose

 

Glen Waverley South Primary School is committed to ensuring that cash handling practices are consistent and transparent across the school.

 

Glen Waverley South Primary School will implement the measures outlined below, in accordance with Department guidelines. This policy intends to safeguard and protect the staff involved in the receipting and collection of monies and minimise the risks associated with cash handling.

 

Scope

 

This policy applies to all school staff or volunteers involved in handling cash on behalf of Glen Waverley South Primary School.

 

Policy

 

Roles and responsibilities of staff

At Glen Waverley South Primary School our office support staff and Business Manager are responsible for managing cash at our school.

Where possible, segregation of duties will be maintained so that no individual will be responsible for more than one of the following:

• • receipting of cash and issuing receipts
  • preparing the banking
  • taking the monies to the bank
  • completion of the bank reconciliation

If this is not possible due to lack of available staff, the Department’s “Segregation of Duties – Cash Checklist” (Segregation of duties — cash checklist (DOCX)) will be implemented and signed off for audit purposes.

Storage of cash

Monies are to be kept in either a controlled access safe or cash drawer during the day.  If funds are kept on the premises overnight, they must be locked in our school’s secured safe.

No monies are to be kept in classrooms or left at school during holiday periods.

All monies that are collected in the classroom will be forwarded to the office through kids mail in a plastic folder by the classroom teacher at the start of each day.

Money collected away from the classroom or general office (eg the Out of School Hours Care program) is to be handed to the office on the day of receipt unless circumstances make this impracticable. Money received away from the office must be double counted at the point of collection and a control receipt issued before it is provided to the office for banking.

Records and receipting

All receipts are to be processed in CASES21 as quickly as practicable upon receiving the funds.

Monies received from the classroom will be entered into CASES21 and receipts returned to the classroom to be handed out to students within 48 hours.

Where monies are received over the counter at the office they will be entered into CASES21 and an official receipt issued immediately to the payer (excluding fundraising monies).

A CASES21 bank deposit slip will be printed and reconciled with total receipts and with the total of cash to be banked.

Funds are to be banked as soon as practicable and at different times of the day.

No receipt is to be altered.  Where a mistake is made approval must be sought before reversing the incorrect receipt.  Copies of the incorrect receipt should be retained with details of why it was reversed.

Prior to a receipt batch being updated a receipt can be reprinted if necessary.  The word REPRINT appears on the receipt.  After the batch has been updated, if a copy of the receipt is requested the Family Statement, Family Matching Transactions Report or the Family Transaction History can be printed.

Cheques

The Department of Education is no longer accepting cheques as of 1^st January 2024.

Fundraising

Two parents or staff members will be designated as ‘Responsible Persons’ for all school fundraising events or other approved events where monies may be collected, for example, the mother’s day/father’s day stalls. The forms which will be completed are the float form or fundraising-collection form and the cash counting sheets. 

Reporting concerns

Discrepancies that cannot be accounted for must be reported to the Principal.

All cases of suspected or actual theft of money, fraud, misappropriation or corruption are to be reported to the Executive Director, Audit and Risk Division by email addressed to:  fraud.control@education.vic.gov.au

Communication

 

This policy will be communicated to our staff in the following ways:

• Included in staff induction processes and staff training for relevant staff
• Discussed with relevant staff/parents

Further Information and Resources

• Finance Manual for Victorian Government Schools 

• Section 3 Risk Management
• Section 4 Internal Controls
• Section 10 Receivables Management and Cash Handling

 

Evaluation

 

This policy will be reviewed annually by School Council to confirm/enhance internal control procedures.

Proposed amendments to this policy will be discussed with Administration Staff, Finance subcommittee and School Council.

POLICY REVIEW AND APPROVAL

Policy last reviewed	March 2024
Approved by	School Council
Next scheduled review date	March 2025