I. Overview/Procedure Description
There are two types of operating cash funds. PettyCash Funds may be used to make small purchases which cannot be accomplishedby any other means (such as purchase orders). Change Funds are usedby those offices which routinely handle cash. Unlike the Petty Cash Fund,a Change Fund will always have the same amount of cash on hand. This proceduredescribes (1) how Petty Cash and Change Funds are approved, as well asthe administrative responsibilities of those entrusted with cash funds,including (2) use and operation of a Petty Cash Fund, (3) use and operationof a Change Fund, (4) increasing a fund, (5) fund security, (6) transferringcustodianship, (7) reconciling the account, (8) cash fund audits, (9) whatto do in the event of theft, and (10) closing a fund.
| July 24, 2007 This procedure, released October 7, 1997, is currently being revised by the Campus Controller/Financial Affairs. In the meanwhile, if you have questions about Establishing and Administering Cash Funds, please use the contact information below. |
IV. Getting Help
The campus General Accounting Office provides trainingand assistance to campus units (including help with completing forms, carryingout procedures, or interpreting policy.
| If you need help with ... | Contact ... |
| ...questions pertaining to PettyCash or Change Funds | General Accounting, x93713. |