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Reporting Theft, Loss or Misuse of State Asset(s) and Auxiliary Organizations Property

Responsible Office: Office of Internal Audit

Policy Type: Business Affairs

Policy Number: 209

Last Date Revised: 3/05/18

State University of New York procedure title - Procedures for Reporting Thefts/Losses - requires that all actual or suspected theft, loss, misuse or inappropriate action involving state funds, equipment, supplies and other assets must be immediately reported to the Binghamton University – New York State University Police Department (Ext 7-2393).Losses of property through robbery, theft, or burglary, as well as the acts of dishonest employees, are to be reported.Items to be reported include, but are not necessarily restricted to:

  • Unaccounted for cash in any amount,
  • Unaccounted for cash in agency cash advance accounts including unrecovered salary or travel advances made to current or former employees,
  • Unauthorized cash withdrawals from agency bank accounts,
  • Unexplained discrepancies in cash balances and/or bank reconciliations,
  • State pay checks prepared for individuals not authorized to receive them,
  • Payroll transactions resulting in overpayments, such as those resulting from improper time and accrual records,
  • Unauthorized or improper use of State and personal credit cards,
  • Theft or loss of supplies or equipment in excess of $1000 per item,
  • Any indications that fraud may have occurred or improper expenditures have been made,
  • Unauthorized or improper disbursements, including actions involving contractors, sub-grantees or other recipients of State funds,
  • Any other actual or suspected financial discrepancies.

When reporting losses of equipment, provide the description, model number, serial number, and University I.D. number.You should contact the Property Control Officer (Ext 7-3155) if you do not have this information readily available.

On a quarterly basis, the University is required to report theft, loss, or misuse of state asset(s) to the State Comptroller’s Office as they pertain to Binghamton University, Binghamton University Foundation, Student Association, Graduate Student Organization, and any other accounts directly or indirectly related to State agencies or departments.

Thefts should be reported to the appropriate authorities and the State Comptroller’s Office at the same time.If an employee is involved in the theft or misuse of State funds, an agency may refer the situation to the Inspector General’s Office for review.If applicable, the OGS Bureau of Insurance should be notified so that recovery can be made under the provisions of a blanket fidelity bond.

The Office of Internal Audit prepares the necessary reports. 

Last Updated: 3/5/18