As state employees, we have a duty to provide for the proper stewardship and safeguard of state resources. Among other things, state resources include revenue generated by university activities such as tuition and fees, and charges for services. Regardless of the source of the revenue or the nature of the asset, adhering to a strong system of internal controls helps reduce the risk of possible loss.
Segregation of duties helps ensure no one person has complete control over any type of asset. This internal control provides that the work of employees handling university assets should be complementary to or checked by other employees, which in turn, provides a means for detecting errors and decreases the chance of fraud.
If, due to staffing or other limitations, you are unable to fully segregate duties, work with your AFO and/or the university controller to establish compensating controls. The following policies also provide helpful information on appropriate controls:
