Accounting Policies (APPR09)
Accounting Procedures
PROCEDURE TITLE: | Use of Draft Vouchers | PROCEDURE NUMBER: | APPR 09 |
RELATED POLICY STATEMENT(S): | |||
DATE ISSUED: | July 1, 1993 | DATE REVISED: | January 1, 1995 |
OVERVIEW
Draft vouchers are a processing tool initiated by the Controller's Office to assist departments that have a high volume of regularly recurring payments, typically for small amounts. This procedure provides instructions for obtaining approval to use the draft voucher method of payment and for their actual use.
REQUIRED FORM(S)
Request for Draft Vouchers
Draft Voucher
PROCESSING STEPS
Conditions for Use of Draft Vouchers
- Internal Audit will be contacted regarding any new or revised requests for using draft vouchers to determine if a review of internal controls is necessary.
- The fund that is being charged must have sufficient budget to cover the charges.
- The duplicate copies of the Draft Vouchers must be submitted to the Controller's Office immediately upon use.
- The Draft Vouchers are only to be used for small, high volume transactions such as volunteer stipends, patient refunds, and dorm deposit and class refunds. They cannot be used for employees or vendor purchases.
- Restricted fund numbers being charged must have had prior approval by Grants Administration.
Procedures for Obtaining Draft Vouchers
- The department will complete a Request for Draft Vouchers form. See completion instructions in Section VI (STANDARD FORMS).
- The Request form will need to be approved by:
1. Department Chairperson
2. Dean's Office
3. Grants Administration (if drafts will be issued and charged to Restricted funds [fund numbers starting with a "2"])
4. Controller's Office
- The custodian(s) of the Draft Vouchers will meet with the Controller's Office to ensure that all procedures and conditions of use are understood.
- A signature card will need to be signed by the custodian(s) who will have the authority to sign the Draft Vouchers. There is a limit of two custodians per department.
- Draft Vouchers will be issued in packs of twenty-five (25) and will be signed out and picked up in the Controller's Office. They will be not be sent through the intracampus mail.
- The department will keep all Draft Vouchers in a secure, locked location within the department.
Procedures for Issuing Draft Vouchers
- The Draft Voucher must be filled out completely (see completion instructions in Section VI, STANDARD FORMS). For payments to stipend recipients, social security numbers and addresses are required.
- The Draft Voucher must be reviewed for appropriateness and signed by the custodian who has the proper authority.
- The top portion of the Draft Voucher is to be retained by the department.
- The Draft Voucher will be given to the individual to whom it is made payable.
- The duplicate copy of the Draft Voucher is to be forwarded immediately to the Controller's Office for entry in the University's financial system.
- Approval must be obtained from Grants Administration before any Draft Voucher can be issued against a Restricted fund not included on the original Request for Draft Voucher form.
Failure to adhere to the above conditions will result in the loss of the department's authority to issue Draft Vouchers and any unused Draft Vouchers must be returned to the Controller's Office. Requests for payments by the departments would then be made using standard payment processing procedures.
