CASH HANDLING POLICY

CASH HANDLING Policy 2026-2027

Purpose

To ensure that cash handling practices are consistent and transparent across the school. 

Rationale:

Cash transactions are one of the most vulnerable areas of the school.  The school will implement the measures outlined below, in accordance with Department guidelines, to safeguard and protect the staff involved in collection and receipting 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 Glenroy College.

Policy:

Roles and Responsibility of Staff

At Glenroy College our General 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

• Minimise risk and protect staff/responsible persons involved in collection and receipting of cash.

• Provide a clear set of cash handling procedures to ensure all cash is receipted and recorded in CASES21 intact and in a timely manner.

• Clear understanding of the process and that it aligns with Departmental policy and guidelines.

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

Implementation:

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 in the plastic zip lock bags by the classroom teacher or responsible Staff member at Glenroy College as soon as possible after collection.

• Money collected away from the classroom or general office, 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 Compass will be receipted into CASES21.

• 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, where possible.

• All payment made via the Office (EFT/Cash) must be recorded in the register in the General Office and noted by the person who has collected the money and signed by the person receipting the money.

• A CASES21 bank deposit slip will be printed and reconciled with total receipts for the day and with the total of cash/cheques to be banked.

• Funds are to be banked within the week of receipt 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 

No personal cheques are to be cashed.

All cheques received by mail are to be entered in a remittance book, and all cheques, which have not already been crossed “not negotiable”, should be crossed as soon as they are received.

Fundraising

Two parents or staff members will designated as ‘Responsible Persons’ for all school fundraising events or other approved events where monies may be collected, for example, the Casual Dress Days. The form which will be completed is the Cash Counting Slip.

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

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, School Council.

POLICY REVIEW AND APPROVAL