Definition of Value Books
The term “value books” applies to any official form, book, or any electronic device used in the University's financial transactions, the improper use of which might occasion loss of the University's funds or trust moneys or loss to members of the University. Value Books include official receipt document, whether in the form of books, tickets or disc, cheque books, requisitions and bill books, or any other form which the Finance Committee or Council shall approve from time to time.
Registration and Control of Value Books
The Director of Finance is responsible for the registration and control of all Value Books used in the University.
Printing of and Responsibility for Value Books
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Only the Director of Finance is authorised to place order for the printing of official Value Books. All such Value Books shall be serially numbered and have security features. These shall be checked by the Director of Internal Audit before they are recorded in the Register of Value Books
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The Director of Finance shall periodically review and update the security features of Value Books that are susceptible to illegal duplication
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Cashiers and Accounting Officers requiring Value Books shall submit their requests to the Director of Finance
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Records of issues of Value Books to Cashiers and Accounting Officers shall be kept by the Director of Finance
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The Director of Finance shall in consultation with the Vice-Chancellor establish stock levels of Value Books to be printed for the use of the University.
Defective Value Books
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Value Books received, whether by post or direct delivery, shall be examined for defects in printing, numbering and paging
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Any Value Books found defective by Cashiers and Accounting Officers shall be returned to the Director of Finance
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The Director of Finance shall be responsible for notifying the printer of defective deliveries
Register of Value Books
The Stock Register for recording supplies and issues of Value Books shall be designed as follows:
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Receipt column showing the date of supply, the number of books received and their serial numbers
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A column shall be ruled for all issues made and the persons receiving the books shall sign against the quantities supplied
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Receipt books returned to suppliers will be similarly recorded in the supplies column and the reasons for their return shown in the remarks column.
Loss of Value Books
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Notice of loss of receipt books or any Value Books must be given to the Director of Finance by the Provost/ Dean/ Head of Department/Section/Unit. The Director of Finance shall be responsible for initiating a loss report to the Finance Committee.
The University shall cause the loss to be published in the University's Gazette and/or national papers
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Failure to report a loss of a Value Book is a breach of financial discipline.
Handing-Over Certificates for Value Books
When one officer hands over to another, a note should be signed by both officers required in respect of all Value Books held by the out-going officer. The handing over notes shall be supported by a detailed list showing the quantities and serial numbers of each type of book and the officer taking over shall sign below the last entry in the Register of Value Books. This shall be witnessed by the Director of Internal Audit or his/her representative.
Custody of Value Books
All Cashiers and Accounting Officers to whom Value Books are issued shall keep their own stock registers and ensure that both Value Books and stock registers are kept under lock and key. Cashiers and Accounting Officers shall be held responsible for the loss of any used or unused Value Books.