Policy No.  4:05:00:00

CLEVELAND STATE COMMUNITY COLLEGE Cleveland, Tennessee

SUBJECT:  Reporting Loss or Damage to Property (Includes Moneys)

  1. Purpose
    To establish methods for reporting of loss or damage to property, including moneys.
  2. Scope
    Includes the action to be taken in the event of an occurrence which may result in:
    1. A loss or damage to Cleveland State Community College property or property of others for which the college is responsible.
    2. A loss due to employee misfeasance.
    3. Forms Used
      1. Property Losses
        Initial Property Loss Report
        Final Property Loss Report
      2. Other Losses
        1. Losses of cash
        2. Cash Shortages greater than $50.00
        3. Other instances of employee theft
        4. Other Losses require the following letters:
          1. Notification of Potential Employee Misfeasance
          2. Case Resolution of Employee Dishonesty
          3. Case Resolution Report
    4. Responsibility
      1. It is the responsibility of each employee of Cleveland State Community College to notify the Financial Affairs office and Security Department immediately of any loss or damage to the college’s property.  It is within the responsibility of the Financial Affairs office within twenty-four hours of the occurrence to submit the appropriate report forms (see Section 3) to the Office of Risk Management; Division of Administration; 320 6th Avenue; Nashville, TN 37243-0465.  Emergency situations require immediate notification (prior to submission of the report forms) by telephone to the Office of Risk Management (615-741-2314).
      2. In the case of potential employee misfeasance, notification must be made to the Tennessee Board of Regents by the following letters:
        The Notification of Potential Employee Misfeasance letter should be used to inform the Board of:  (1) losses of cash (2) cash shortages greater than $50, and (3) any other instance where potential employee theft may have occurred such as travel claim abuse or theft of athletic tickets.  This letter provides general information as to the type and estimated value of the loss or shortage, the department in which the incident occurred, the investigating unit and a contact individual to which questions may be directed.  A second letter, Case Resolution of Employee Dishonesty, is used to report the results of the investigation when the investigation reveals an employee was found guilty as it relates to the loss.  The third letter, Case Resolution Report, is used when the investigation concludes employee guilt cannot be determined.
        The completed letters will be forwarded to he Division of State Audit for their records.  The Financial Affairs office should still notify the Board by a phone call of any potential employee misfeasance item even though Cleveland State Community College will be completing the above-referenced letters.
    5. Definitions
      The word “emergency” as used in this procedure means:
      1. Property losses which exceed $25,000.
      2. Incidents or potentially serious which, within the judgment of responsible personnel, create public concern regardless of the extent of property damage.
    6. General
      1. Following the initial notification of emergency situations and for all other losses, the appropriate reporting form should be submitted in accordance with the instructions indicated on the form.

Source:  Source Letter, Comptroller of the Treasury Subject, “Reporting Shortages of State Properties and Moneys and Settlement of Bond claims Arising Therefrom” dated January 29, 1979.  Risk Management Manual, May 14, 1990

Revised:  January 1, 1993; March 11, 1994