GNPL02

POLICY TITLE:

Petty Cash Funds / Change Funds

POLICY NUMBER:

GNPL 02

DATE ISSUED:

July 1, 1984

DATE REVISED:

August 2013

A petty cash fund represents cash maintained within a department or area as a convenience for purchasing small supplies and for minor operating expenses.

A change fund is cash used strictly as change for monies received, and not for the purposes specified under the definition of a petty cash fund.

The creation of either a petty cash fund or a change fund within a department requires the prior approval in accordance with policy 3.1.1 and Leisha Moxness in the Accounting Services department.

Petty cash funds and change funds are not to be used for cashing personal checks, travel expenses, for advances, or to circumvent the University's normal purchasing system and procedures. They are not to be used for expenses on restricted funds.

In lieu of obtaining a departmental petty cash fund, departments may use the Business Office as their "petty cash fund" by submitting receipts for items less than $50 through the Business Office.

To close a petty cash or change fund, take the cash to the Business Office with a deposit slip using the following Accounting distribution: 101000-1141. Please notify Leisha Moxness (x3878) in the Accounting Services department that this has taken place.