Safeguarding Government Funds
Once a paying agent signs the receipt for government funds, he has accepted responsibility for the total amount of those funds. Loss of those funds could cause the paying agent responsible to repay those funds and possibly other ramifications. It is therefore necessary for the paying agent to take the following steps to safeguard the funds:
Government Services Administration (GSA)-approved security containers are manufactured under the following federal specifications, with the Class 1 and Class 5 cabinets rated to provide the greatest protection against forced entry. Approved cabinets include the following:
Burglary-resistant safes include the following:
(Note: The numerical value in the safe classifications represents the time in minutes the safe will resist forced entry.)
Storage Container Requirements
If the value stored is under $7,500, the commander will establish fund container requirements. Any of the security containers or burglary-resistant safes listed in the above sections may be used.
If the value stored is from $7,500-$50,000, a security container that carries a Class 1 or Class 5 rating or a burglary-resistant safe carrying at least an Underwriters Laboratories classification of Tool-Resistant Safe, TL-15, and having a Group 1R combination lock, will be used.
If the value stored is $50,000 or more, a burglary-resistant safe or vault carrying at least an Underwriters Laboratories classification of Tool-Resistant Safe, TL-30, and having a Group 1R combination lock will be used.
(Note: Do not store public funds and documents in the same containers as classified material and documents.)
Last Reviewed: May 18, 2012