POL-U5315.25 Reporting Loss of University Funds or Property

Dates and Approval

Effective Date:

April 24, 2006

Revised Date:

August 9, 2017

Approved by:

President Sabah Randhawa

Who does this policy apply to?

This policy applies to all University personnel, including faculty, staff, volunteers and students.


There is no overview for this policy.



Any known or suspected loss resulting in the unauthorized taking of University (public or non-public) funds or property or other illegal activity. This may include, but is not limited to:

  • Any dishonest or fraudulent act resulting in financial loss to the University
  • Forgery or alteration of records or documents
  • Any misappropriation of funds, securities, supplies, furniture, equipment or other asset
  • Acceptance of kickbacks or bribes
  • Irregularities in the handling or reporting of money transactions
  • Use of University facilities and equipment for private financial gain
  • Participation by personnel in transactions with the University that result in economic gain to themselves, their immediate families, or a business with which they are directly associated
  • Any unauthorized access to or personal use of financial information
  • Any successful computer hacking effort, infiltration of information databases
  • Impersonations leading to the defrauding of University customers
  • Theft, loss or damage to portable computing devices that may contain student records (e.g. FERPA), medical records (e.g. HIPAA) and/or non-public financial records

The definition of loss or losses does not mean:

  • Reasonable “over and short” situations from cash receipting operations as part of normal accounting procedures unless unusual trends occur;
  • Reasonable inventory shortages identified during a physical count as part of normal accounting procedures unless unusual trends occur; or
  • Breaking and entering or other vandalism of property, which should be reported immediately to University Police or appropriate law enforcement agency.

A loss may indicate a violation of other state law, regulation or University policy. See applicable laws and regulations under “Authority” and University policies under “See Also” in the policy header above.

Policy Statements

1. Personnel Must Immediately Report Loss

All personnel must immediately report known or suspected loss to Western’s Internal Audit Department and University Police in accordance with the Reporting Loss of University Funds or Property procedures (PRO-U5315.25A). This ensures that:

  • Losses are minimized,
  • Investigations and audits are not hampered,
  • Improper settlements are not made with employees,
  • Incorrect personnel actions are not taken,
  • Employees are protected from false accusations,
  • Bond and insurance claims are not jeopardized, and
  • Compliance with state laws and regulations is accomplished.

2. Personnel Protect Pertinent Records From Destruction

Personnel will protect all pertinent records related to the loss from destruction. All original records related to the loss should be secured in a safe place until an investigation or audit has been completed.

3. Personnel Will Not Attempt to Correct the Loss

Personnel will not attempt to correct the loss without first reporting to the authorities identified in the reporting procedures. State law requires written approval of the Assistant Attorney General and State Auditors Office (SAO) before the University can make any restitution agreement, compromise, or settlement of claims that are related to losses that are required to be reported to the SAO.

Policy Information


Display all authorities


Display policy history


  • POL-U5950.19 Reporting Loss of University Funds or Property

See Also:

Display procedures, standards, and forms

Related documents


  • POL-U5950.19 Reporting Loss of University Funds or Property


See Also