Student Agency Accounts Rules and Regulations
Authority: Business Affairs and University Services
Date enacted or revised: Revised September 2016
Agency funds are moneys held by the institution acting as custodian, when the custody of them provides a benefit to McNeese State University. These funds may be held on behalf of student organizations, faculty, staff or some other third party. McNeese State University is holding these funds temporarily and has no claim to them.
To provide general guidelines for the operation and use of Agency Funds.
These policies and procedures are applicable to all McNeese departments who wish to establish agency funds.
- To safeguard McNeese State University accounts against waste, fraud and inefficiency.
- To ensure a high level of accuracy and reliability in the accounting records.
- To reduce the opportunity for errors or losses without incurring unreasonagle additional costs for the increments of internal controls established.
University funds are subject to an audit anytime by the Internal Auditor.
Requesting a New Fund
A new fund can be established by completing the Agency Fund Request Form
. Any questions to complete these forms can be directed to the Associate of Auxiliary Accounting at 475-5095.
All moneys received on campus are sent to the Cashier’s Office in Smith Hall for processing and depositing. All funds received in departments are to be sent to the cashier office within 24 hours (not including weekends and University holidays) of receipt for processing.
All funds must have a Deposit Form
with cash, checks and credit cards accounted for separately, contact information, index number, and account number.
Reference:McNeese State University, Students, Student Organizations, Student Organization Agency Accounts, Cash Handling and Cash Collection Regulations, Cash Collections and Deposits.
Disbursements can be made to vendors or as reimbursements to individuals. This is accomplished by completing an Agency Check Request Form
and attaching appropriate documentation (ex: receipts, invoices). If funds are needed in advance, an agency check request form must be completed and the fund custodian is then responsible for maintaining sufficient documentation to support expenditures. Completed forms must be received by the Associate of Auxiliary Accounting prior to 1:00 pm in order for a check to be available the next business day.
A petty cash reimbursement form may be submitted by using the Petty Cash Voucher
for qualifying petty cash purchases under $100.
Reference: McNeese State University, Students, Student Organizations, Student Organization Agency Accounts, Cash Handling and Cash Collection Regulations, Petty Cash.