Effective: April 1, 2016

Applicable FAM Policies: 415 - Receipt and Deposit of Public Money

Applicability: GNWT Departments and Public Agencies

INTERPRETATION

Receipt of money

Revenue officers collecting or receiving money shall:

• Maintain a Daily Register of Incoming Revenue (DRIR) to record the collection or receipt of money (within financial system or manual);
• Immediately record the collection or receipt of money;
• Issue a receipt from the financial system to the remitter;
• Issue an interim General Receipt if the financial system is unavailable. (An official license or permit is a receipt to the remitter);
• Where at all possible, all incoming mail should be opened in the presence of at least two public officers to witness.
• All incoming negotiable instruments shall be promptly endorsed by a revenue officer (“for deposit only to the credit of the Government” for GNWT Departments).
• A revenue officer shall prepare a bank deposit slip from a reconciliation of the DRIR with the deposit slips and the receipts.
• Money received without explanation must be credited to a customer’s account until the intended purpose can be determined from the remitter.

Custody of money  

Departments shall:

• Safeguard in locked facilities any money held overnight;
• Monies held overnight must be within thresholds approved by applicable Director of Finance or equivalent;
• Whenever possible, receipts must be deposited within 24 hours in communities where there is an established bank. 
• For special circumstances,such as a remote office whose location prevents it from achieving the above timelines, their banking practices must be approved by the appropriate Director of Finance.

Deposit of Money

Deposits by mail or courier must be made under dual control.  All money and accompanying documents must be sent in a locked bag designed for that purpose.  Only the receiving office may have a duplicate key.  The locked bag must be opened in the presence of two officers responsible for deposit who shall verify the amount and sign the DRIR.

Money Overages and Shortages/Refunds

A cashier or cash custodian is personally responsible for money in his or her care and shall report any daily cash shortage or overage to the responsible supervisor.

Five dollars ($5) is the minimum refund to be issued.