The Treasury Reporting 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.
Failure to comply with the guidelines established for the petty cash/change fund may result in the suspension or termination of the fund.
If one or more of the following conditions are identified during an audit by Treasury Services or University Assurance Services, the fund may be suspended up to 6 months. Multiple occurrences of conditions below may result in longer suspension or immediate termination based upon
Treasury Management review:
If one or more of the following conditions are identified during an audit by Treasury Services or Assurance Services, the fund will be immediately terminated and any missing funds will be charged to the department:
The Petty Cash Training is offered as a web based course designed to give an overview of the Petty Cash/Change Fund policies and procedures. The Custodian and the Dean/Department Head must complete the mandatory web-based training and test annually. New custodians and the Dean/Department Head must complete the web-based training and test prior to receiving a Petty Cash/Change Fund.
To gain access to the Petty Cash training, please contact Blanca Marquez, Accountant, at (804) 828-8907 or by email at firstname.lastname@example.org.