Vault Security Policy

Authority: Business Affairs
Date Enacted or Revised: Revised October 2009; January 2016; March 18, 2022

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 Cashier’s Office shall be secured daily in the vault located in the secured area of the Cashier’s Office.

Purpose

To ensure that all cash and cash equivalents are protected.

Scope

These policies and procedures are applicable to all University 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 Office of Internal Audit.

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 employment of 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.

Communication

This policy is distributed via the University Policies webpage.