Internet Policy Electronic Funds Management - Hampton Park ...
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Internet Policy Electronic
Funds Management
2021
Purpose individual authority and security tokens
The purpose of this policy is to set out how are required
our school will manage electronic funds in • all payments through internet banking
accordance with applicable Department software must be consistent with
of Education and Training policy and law. Department requirements and must
be authorised by the Principal and
Scope one other member of school council
This policy applies to: nominated by the school council
• all staff/responsible persons involved • Hampton Park Secondary College
in management of funds transacted school council will determine how
electronically refunds will be processed and any
• all transactions carried out by Hampton refunds processed through the EFTPOS
Park Secondary College via the terminal [if permitted by the school] will
methods set out in this policy be recorded in a refund register
• Hampton Park Secondary College will
undertake maintenance and upgrading
Policy
of hardware and software as required
Hampton Park Secondary College has
• Hampton Park Secondary College will
developed this policy consistently with the
ensure proper retention/disposal of all
Schools Electronic Funds Management
transaction records relating to accounts
Guidelines and Section 4 Internal Controls
such as purchase orders, tax invoices/
of the Finance Manual for Victorian
statements, vouchers, payroll listings
Government schools.
and relevant CASES21 reports
Implementation EFTPOS
General Implementation • the Principal of Hampton Park
• Hampton Park Secondary College Secondary College, will ensure all staff
school council requires that all operating the merchant facility are
actions related to internet banking aware of security requirements. At our
are consistent with The Department’s school, this includes: adhering to the
Schools Electronic Funds Management Cash Handling Policy 2020.
Guidelines • school council minutes must record
• Hampton Park Secondary College which staff are authorised to process
school council approves the use of transactions
Westpac as the approved software • no “Cash Out” will be permitted on any
for all internet banking activities as school EFTPOS facility
• Hampton Park Secondary College
will accept EFTPOS transactions viatelephone [e.g. Business Manager to access
• no refunds will be processes through statements and upload batches]
EFTPOS • the identification of staff with
authorisation/signatory responsibilities
Direct Debit [e.g. The Principal, Wayne Haworth,
• all direct debit agreements must be selected Assistant Principals, Karen
approved and signed by school council Shiel and Ayman Youssef, and
prior to implementation School council delegates, Luke
• the school council requires all suppliers Delutis and Linda Carter, for the
to provide tax invoices/statements to authorisation of payments]
the school prior to direct debiting any • the Business Manager must not have
funds from the school’s account banking authorisation/signatory
• a direct debit facility allows an external responsibilities other than for the
source (e.g Zero 3 Telecom, Konica transferring of funds between school
Minolta Photocopier Lease agreement bank accounts
and Exetel Internet providers) to a • the allocation and security of
pre-arranged amount of funds from personal identification number (PIN)
the school’s official account on a pre- information or software authorisation
arranged date. Any such payments tokens
will be authorised as appropriate and • the setting up of payee details in
required CASES21
• Hampton Park Secondary College will • the authorisation of transfer of funds
ensure adequate funds are available in from the official account to payee
the Official Account for the “sweep” of accounts
funds to the supplier • alternative procedures for
processing, using the direct deposit
Direct Deposit facility, for periods of Business
• Hampton Park Secondary College Manager’s and Principal leave of
utilises a “two user authorisation of absence
payments” banking package, as it
contains a greater degree of security BPay
and access controls Hampton Park Secondary College school
• creditor details will be kept up to date council will approve in writing the school
and the treatment of GST for creditors council’s decision for the utilisation of BPAY.
will be monitored
• payment transactions will be uploaded Payments made by BPay are subject to the
as a batch through the CASES21 system same requirements as for all transactions
• all payments made through the internet relating to accounts such as:
banking system must be authorised by • purchase orders
two authorised officers. • tax invoices/statements
• the various internal controls that need to • payment vouchers
be considered include: • signed screen prints and payee details
• the identification of staff with • relevant CASES21 reports etc
administrative responsibilities
This includes a requirement for the principal
to sign and date BPay transaction receipts
attached to authorised payment vouchers.Further Information and Resources
More information and resources can be
found here:
• finance manual for Victoria
Government Schools available from
School Financial Guidelines
• section 3 risk management
• section 4 internal controls
• section 10 receivables management
and cash handling
• schools electronic funds management
guidelines
• CASES21 finance business process guide
• section 1 families
• internal controls for Victorian
Government Schools
• ICT security policy
• Public Records Office Victoria
• archives and records management
advice for schools
Review Cycle
This policy is scheduled for review in 2021You can also read
