.020 Instructing
Staff Members
.030 Reporting
Losses
.040 Questions
.010 Employee
Bonds
In accordance with a recommendation from the House Ways and
Means Committee, the Board of Regents has discontinued the
purchase of surety bond coverage for all Board of Regents
employees except those paid entirely on a local agency payroll.
The local agency departments (Athletics, K-State Union and
Student Publications) have their own separate surety bonds.
Therefore, the University is self insured. This self insurance
is not funded so a loss may be the responsibility of the
department that suffered the loss. It is imperative each
department's procedures be closely monitored for handling cash,
property control, and general internal control. All suspected
losses must be reported immediately.
.020 Instructing
Staff Members
The Department Head shall instruct their staff members, at
least annually, to report all suspected losses to them
immediately, so the loss may be reported promptly.
Every suspected loss of University money, securities, supplies
or property, regardless how the loss occurred, will be reported
immediately by telephone to the KSU Police, or the local law
enforcement agency if the loss occurred off campus.
The Department Head will make this initial telephone report
and will confirm the telephone report promptly with a letter to
the Controller, the Internal Auditor, the appropriate Vice
President or Dean, and the KSU Police. The letter shall provide
the following information:
In order to remove property losses from the University
inventory, the department shall submit a Disposition of Property
form DA-110 to the Controller's Office with a copy of the police
report attached. See PPM 6310.290 for detailed instructions for
completing the DA110.
Questions on this chapter should be referred to the
Controller's Office, Financial Reporting and Inventory; 532-6525.
