Petty cash funds are used for expenditures in connection with approved University activities, the amount and significance of which are so small as to preclude requesting disbursement by check. The amount of the fund requested should be limited to minimum operating requirements to prevent theft of the cash.
The Office of the Treasurer is responsible for approving and controlling all petty cash funds.
The Senior Business Officer of the school/center are responsible for approving and embossing all changes to petty cash funds and establishment of petty cash funds.
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The individual with appropriate authorization via his/her transaction authorization card is responsible for ensuring that all expenditures from petty cash are in compliance with University petty cash policy.
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If you make any cash disbursements to human subjects for research purposes, you are required by federal guidelines to obtain a W-9 form.
Human Subject fees of $100.00 or less per subject may be made from the departmental petty cash funds.
A custodian can only be responsible for one petty cash fund.
The custodian cannot approve and emboss changes to petty cash, establishing of petty cash funds or replenishment of the fund.
The custodian is responsible for controlling and safeguarding the fund.
Individuals cannot be reimbursed for sales tax on items purchased.
All petty cash expenditures must be supported by a petty cash voucher slip and a receipt. The petty cash voucher slip must be approved by the custodian and signed by the recipient of the cash. The voucher slip and receipt must be submitted along with the request to replenish the fund.
Reimbursement of entertainment expenses of $50.00 or less may be made from the departmental petty cash funds. Any reimbursement regardless of dollar amount which includes alcohol must be submitted to the Travel Office and may not be reimbursed through petty cash.
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The responsible department must notify the Office of the Treasurer when there is a change to the petty cash fund.
The amount of the fund should be limited to the total of two week’s expenditures.
All petty cash funds must be replenished at least on a monthly basis and original receipts and voucher slips must accompany all reimbursement requests.
Petty cash may not be used for the following:
purchase of supplies in excess of $50.00
travel expenditures, except for local travel (taxi fare, tokens, etc.)
personnel services, except for certain human subject fees. (See Payment of Human Subject Fees policy # 2319.1)
equipment purchases
check cashing fund
personal loans or salary advances
- Periodically, the petty cash fund should
be counted on a surprise basis by an Administrative Business
Officer or designee other than the custodian.
The operating and administration of petty cash funds must adhere to the University's Internal Control Policy number 2701.
Custodians must notify Public Safety of stolen cash.
The University will impose various degrees of sanctions for careless or blatant misuse of petty cash funds by the custodian. These being: verbal warning; revocation of custodian responsibilities for a specific period of time or permanently; written warning added to the employee’s personnel file; termination of employment and possible criminal and/or civil prosecution for suspected serious infraction of University policy and violation of the law (see Human Resource Policy #621 for further details.
