ROWAN UNIVERSITY POLICY
Title: Safeguarding Assets in a Safe or Vault
Subject: Bursar
Policy No: Fin: 2015:16
Applies: University-Wide
Issuing Authority: Senior Vice President for Finance and CFO
Responsible Officer: Bursar
Adopted: 11/23/2016
Last Revision: 12/02/2016
Last Reviewed: 12/02/2016
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This policy is applicable to all departments that utilize a safe for storing and protecting cash, checks, and/or money orders on behalf of the University.
IV. DEFINITIONS
- Care in Using: Safes are to be opened in such a manner that other persons cannot observe and determine the combination.
- Changing the Combination: When a person knowing the combination is no longer to have access to the safe, the person leaves the University or department, the combination should be changed immediately. In addition, the combination must be changed at least once every two (2) years.
- Department Records: Each department having a combination safe must establish and maintain a record of each person given the combination, dates the combination was last changed, and the reason the combination was changed.
- Knowledge of the combination to be limited: Combinations are to be given to a limited number of supervisory and authorized personnel who are required to have access to the safe.
- Not to Be Written Down: Combinations are to be memorized and are not to be written down.
- Secure Area: The safe should be placed in a secured area with limited access. If possible, secure the safe to a permanent structure.
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