Official Receipts

Official numbered receipts shall be issued for all monies paid to the University or its bona fide agents. It is equally the duty and responsibility of the persons paying money to ensure that they obtain an official receipt.

Remittances through the Mail

The Secretary to the Director of Finance must keep a Register of monies received through the mail. The record must show from whom the money was received, the date of receipt, the amount received, the transaction involved, the number and the date of the receipt issued. The Chief Cashier will sign in the Register for the cheque or draft taken over by him/her.

Receipts in respect of Auction Sales

All monies paid to the Chief Cashier in respect of auction sales made in the University shall be supported by the Auctioneer's account with his/her affidavit that the amount being paid was what was realized at the auction sales. Whenever a property of the University is auctioned, the Auctioneer will issue a chit to the purchaser stating the amount to be paid to the University Cashier in respect of the sale. The Auctioneer prepares a Statement of Account indicating type of assets disposed and the amount involved for the attention of the Director of Finance.

Alterations to Receipts

A receipt shall be cancelled and a fresh one issued if there was a mistake in the original receipt. Any cancelled receipt shall be retained in the Receipt Book for audit inspection. Any receipt issued shall not be erased, altered or authored by writing over.

Cash Surplus

Any cash surplus shall be promptly brought into account as revenue by the issue of a receipt for the surplus, pending such investigations as may be instituted by the Director of Finance. No cash surplus shall be set off against any cash shortage unless the Director of Finance, after investigation, is satisfied that any such surplus relates to a specific shortage and gives his/her written authority for such a set off.