Effective: April 1, 2016
Section: Banking & Treasury
Administrator: Office of the Comptroller General
Applicability: GNWT Departments

POLICY

All public money must be safeguarded, promptly recorded and deposited to the appropriate bank account within timelines established or approved by the Comptroller General or delegate.

PURPOSE

To supplement GNWT Departments’ internal controls over cash by requiring that cash receipts be recorded immediately, secured and deposited as soon as practical into the appropriate bank accounts.

SCOPE

Applies to all public money receipted by a GNWT Department, including cash, cheque, money order, or any similar instrument and debit/visa card transactions.

RESPONSIBILITIES

Deputy Head

Ensure that every revenue officer processes, records, safeguards and deposits all money received in accordance with systems and procedures established or approved by the Comptroller General or delegate.

Comptroller General

Establish and maintain systems and procedures to ensure that public money that belongs to the GNWT is collected and accounted for, for internal controls respecting the receipt and disbursement of public money that belongs to the GNWT and to ensure that public money that belongs to public agencies is collected and accounted for; may approve Interpretation Bulletins associated with this policy.

AUTHORITIES and REFERENCES

• Financial Administration Act (FAA)
• s. 10 – Board directives
• s. 16 – Comptroller General
• s. 43 – Public Money and Property
• s. 44 – Public agency bank accounts
• s. 45 – Deposit of public money
• s. 46 – Records
• s. 47 – Ownership of records
• s. 48 – Accountability for money and property
• s. 94 – Disbursement of public money

INTERPRETATION BULLETINS