Departmental Petty Cash Funds

Overview

The Accounting area of Treasury Services is responsible for the establishment and oversight of Department Petty Cash funds. Individual departments often need access to petty cash for change funds or participant studies. On these occasions, departments may request a petty cash fund to be maintained within their department. One fiscal person within the department takes responsibility for the fund. This person is the petty cash custodian.

  • Custodian has sole responsibility for safekeeping, maintenance, proper usage of funds. Check cashing is PROHIBITED.
  • Accounting must be notified of changes in custodian.
  • Funds must be maintained at the authorized amount at all times, which can be a combination of cash and any unreimbursed receipts.
  • Funds are subject to review by Audit and/or Accounting.
  • The funds are monitored with regard to and accountable to the Petty Cash Administration Policy.
View graphic version