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					                    DEPARTMENT OF CORRECTIVE SERVICES
             PROCEDURE - FINANCIAL MANAGEMENT PRACTICES MANUAL


                               PREFACE INFORMATION
Version: 00            Implement Date:                 Date of Review: August 2002
Directorate/Unit:      Finance and Administrative Services Branch
Application:           Department
Availability:          Public

Subject:        Banking

Authority:      Financial Administration and Audit Act 1977

1.        Purpose

To specify the timing and principles to be followed when banking moneys receipted by the
department.

2.        Principles

Authorised bank accounts are held at the Commonwealth Bank of Australia.

All moneys received are to be deposited into an authorised bank account on the day of
receipt, or as early as practical on the next working day. Where the amount held for deposit
does not exceed $500 banking may be carried out weekly, except where a variation to this
procedure has been amended in writing by the Director, Finance & Administrative Services.

Moneys, which comprise part of the collection for any one day, are to be banked in the form in
which they are received.

Before banking, the calculations are to be verified by an independent officer.

3.        Process

The bank deposit slip is to be prepared in duplicate and indicates the particulars of the money
deposited.

After banking, the banking records are checked by an officer who did not perform the banking.
 Where possible, the duties of checking on preparation and checking following banking are
segregated.

Cash and Cheques received in the post are to be recorded in the Cash-by-Post Register and
cross-referenced with the relevant deposit slips.

The deposit book and other monetary records are subject to an independent internal monthly
check. This is in addition to the daily checks required by the Balancing of Moneys policy.
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Banking                                                                           Page 1 of 2
Appendices and Forms




H Ringrose
Director-General



                                                LINKS

                              Procedures
                              Balancing of Moneys
                              Mail Opening and Cash by Post
                              Security and Control
                              Security of Moneys

                              Related Policy

                              Legislation




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Banking                                                       Page 2 of 2

				
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