Petty Cash

As of July 1, 2017, The University will be working towards being a cashless campus and significantly reducing the number of petty cash accounts. 

No new accounts will be established unless approved by the Treasurer's Office. 

To close or decrease existing accounts, please see instructions below:

  • Request to Decrease a Petty Cash Fund
  1. All receipts must be submitted on a Reimbursement of Petty Cash form to obtain the cash. Receipts will not be accepted to reduce the fund. Please go to the reimbursement of petty cash section for instructions on replenishing a petty cash fund.
  2. Complete and submit an on-line deposit. In order to reduce the petty cash fund, the cash being returned must be credited to object code 1140. Deliver the summary deposit sheet along with the cash to the Cashier's Office, 3451 Walnut Street, Room 110 Franklin Building. The Cashier's Office will verify the cash deposit and will hand-stamp the deposit summary sheet. The stamped deposit summary sheet will be returned to the individual at the cashier window.

  3. Complete a custodian responsibility form. Deliver the completed original custodian responsibility form along with the original hand-stamped deposit summary sheet to: Cashier's Office, 3451 Walnut Street, 110 Franklin Building/6205, attn: T. DeSalis.

  4. Departments must retain in their files the following: a copy of the custodian form with the Cashier's acknowledgement and a copy of the hand-stamped deposit summary sheet.

  5. Please note: It is important that the above steps are completed in order for the petty cash fund to be reduced on the University's general ledger system. It is the department's responsibility to ensure that the fund has been reduced. Until these steps are completed, the custodian maintains responsibility for the petty cash fund.


 

  • Request to Close a Petty Cash Fund
  1. All receipts must be submitted on a Reimbursement of Petty Cash form to obtain the cash. Receipts will not be accepted to close the fund. Please go to the reimbursement of petty cash section for instructions on replenishing a petty cash fund.

  2. Complete and submit an on-line deposit. In order to close the petty cash fund, the cash being returned must be credited to object code 1140. Deliver the summary deposit sheet along with the cash to the Cashier's Office, 3451 Walnut Street, Room 110 Franklin Building. The Cashier's Office will verify the cash deposit and will hand-stamp the deposit summary sheet. The stamped deposit summary sheet will be returned to the individual at the cashier window.

  3. Complete a custodian responsibility form. Deliver the completed original custodian responsibility form along with the original hand-stamped deposit summary sheet to: Cashier's Office, 3451 Walnut Street, 110 Franklin Building/6205, attn: T. DeSalis.

  4. Departments must retain in their department files the following: a copy of the custodian form with the Cashier's acknowledgement and a copy of the hand-stamped deposit summary sheet.

  5. Please note: It is important that the above steps are completed in order to close the petty cash fund accurately on the University's general ledger system. It is the department's responsibility to ensure that the fund has been closed successfully. Until these steps are completed, the custodian maintains responsibility for the petty cash fund.


 

 

Petty cash funds are used for expenditures in connection with approved University activities.  Alternatives to using a petty cash fund are:

 

  1. Purchase Order
  2. Procard
  3. Greenphire Card
  4. Concur

Additionally, the Treasurer's Office in conjunction with Audit & Compliance has developed a Petty Cash Audit Assessment for Schools & Centers.   These guidelines provide step-by-step instructions on auditing your school/center's petty cash funds. Individuals responsible for overall management of their school/center's petty cash fund should take advantage of this useful management tool.


 

  • Change of Custodian
  1. Submit a completed custodian responsibility form to: Cashier's Office, 3451 Walnut Street, 110 Franklin Building/6205, attn: T. DeSalis.

  2. New custodians must successfully complete petty cash training. Training is available at Knowledge Link.


 

  • Theft of Petty Cash

The only way to change the account number for a petty cash fund is to follow the procedure to close an existing petty cash fund and open a new petty cash fund using the new account number.


 

  • Reimbursement of Petty Cash
  1. Reimbursement of the department's petty cash fund must be processed on a reimbursement form and signed by the custodian of the fund. Additionally, the reimbursement form must be signed and embossed by the senior business administrator who is not the custodian. Note the 5 digit vendor number is 52995.
  2. The custodian cannot approve and emboss the reimbursement form.

  3. In most cases, all expenses should be charged to an expense object code 5xxx. Note that 1140 cannot be used to charge petty cash expenses.

  4. Supporting documents, such as receipts, cash register tapes and petty cash voucher slips must accompany all requests for reimbursement to the fund. All purchases of supplies must be supported by a receipted bill or cash register receipt. If your department has a unique operation and the C2-A form is not an appropriate voucher, you may create your own worksheet.

  5. If a receipt is lost by the recipient of the cash, a note indicating such must be signed by the custodian of the fund or the business administrator and included with the reimbursement request.

  6. Hand-deliver the reimbursement form to: Office of the Cashier, 3451 Walnut Street, Room 110 Franklin Building. Individuals must wait for the cash and must count the cash before leaving the Cashier's Office.

  7. Please note the following cashier guidelines in petty cash disbursements:

  • No cash will be disbursed without proper identification.
  • No cash will be disbursed if forms are incomplete or inaccurate.
  • No cash will be disbursed if forms are signed and embossed by the custodian of the fund!
  • Cash disbursed will not exceed the limit of the petty cash fund.
  • Cash must be counted while at the window.

 

IMPORTANT NOTICE - If your reimbursement request is large or if you require certain denominations, please notify the Cashier’s Office at 215-898-7258 in advance so that the cash can be ready for you upon arrival. Additionally, it is recommended that you use the buddy system for those departments requesting large dollar amounts.