Receipting and Banking

Purpose of this policy

To ensure that all payments made to a school are receipted correctly, banked into the school council official account and auditable.

Policy

Schools must:

  • follow correct accounting procedures for:
    • issuing receipts
    • cancelling receipts
    • electronic receipting
    • money received away from the general administration office
  • not cash any personal cheques
  • reconcile receipts to banking
  • bank receipts as soon as practicable
  • maintain security for the temporary holding of money
  • not leave money on the premises during school vacation.

Related policies

Department resources

  • School Financial Guidelines -
    • Finance Manual for Victorian Government Schools (Section 3 Financial Policy/Best Practice and Section 3.7 Receipting and Banking)
    • Guidelines for Electronic Payment of Accounts.