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Vault security - Section 2.6

Vault security - Section 2.6

Administrative Accounting Policies and Procedures - McNeese State University

Revised/Approval Date: October 2009

The Vice President for Business Affairs and the Comptroller determine and publish the criteria for establishing cash handling functions and any rules and procedures necessary.

General

All cash and cash equivalents on hand for working purposes of the cashiers office shall be secured daily in the vault located in the secured area of the cashiers office.

Purpose

To ensure that all cash and cash equivalents are protected.

Scope

These policies and procedures are applicable to all McNeese employees who accept payments.

Objective

To safeguard McNeese State University accounts against theft, fraud, and inefficiency.

Audit

University funds are subject to an audit anytime by the Internal Auditor.

Vault Security

  • The vault is placed in a secured area with limited access restricted to the Accounts Receivable Supervisor and the Comptroller. Cashiers do not have access to the secured area.
  • The combination to the vault is known to as few persons as possible consistent with operating requirements and the value contained.
  • The combination will be changed if any employee having knowledge of the combination leaves the employ of McNeese State University or no longer requires the knowledge for the performance of their duties.
  • For department safes, it is the responsibility of the department head to monitor the combination changes or to supervise a delegated employee.