Authorization and Approval

Responsibility: Associate Vice-President, Financial Services 
Authorization: Board of Governors
Approval Date: Mar 30, 2001
Amended: May 6, 2005


To enable the University of Saskatchewan to effectively manage and control monies received.


Each operating unit is responsible for following university procedures to ensure all monies received are handled in a secure manner, deposited on a timely basis to a University account and are subjected to the appropriate internal controls and accounting treatment.

Procedure summary

The University of Saskatchewan, through each of its operating units, receives monies.  The University must safeguard its assets and protect its monies from theft and misappropriation through a sound internal control system.  This policy and the accompanying guidelines and procedures sets forth how the university ensures compliance with requisite internal controls; and how it ensures accurate reporting of revenue in the conduct of the university's business.

  • Monies must be handled in accordance with Managing and Controlling Monies Guidelines and Procedures.
  • Departments are responsible for maintaining the security of monies until deposited with the University Treasury Office or the bank.
  • Banking and credit card agreements are the responsibility of the Vice-President Finance & Resources.  Separate arrangements must not be entered into by Departments.
  • The University requires that departments choosing to accept electronic payments via the internet use the designated electronic gateway provider.  In setting up their web sites, departments are required to reference and access this service for payment processing.  Use of the central service assures that the highest controls are kept over electronic payment information and that the University's liability risk is minimized.
  • Monies should be deposited daily in the interests of security, economics and positive public image. 
  • Deposits must be coded to the appropriate accounting codes as established by the Financial Services.
  • Departments are responsible for verifying the deposit to ensure that all monies received are deposited and posted to the correct account code.
  • Financial Services is responsible for advising and educating staff as to proper procedures.
  • Audit Services is responsible for ensuring that appropriate monitoring is carried out.


If you have questions about this policy please contact:

Contact Person: Treasurer and Director of Pensions, Financial Services
Phone: 306-966-6276