9.41 Cash Funds
Petty cash funds and change funds may be established for general or special
uses by university departments with the permission of the Director of Business
Services. In each case, an individual employee will be identified as official
custodian of the fund. Such funds will be supplied through the Head Cashier
in the University Business Office on presentation of an approved requisition.
A custodian of a cash fund is responsible for the full amount of such fund
until it has been returned to the cashier. Each cash fund must be returned
to the cashier at the end of the period for which it was granted, In each
case, it must be returned no later than the end of a recipient-custodian's
period of employment or at the end of an academic year, unless permission
is given for retention during some longer period of time. All cash funds
outstanding at the end of July must be returned to the cashier by the end
of the Summer Session or be renewed in the Business Office. Those few departments
operating cash funds on a twelve-month continuing basis will be required
to renew their funds at the end of each fiscal year on June 30, in order
to facilitate accounting for and auditing of University Cash Funds.
The recipients of cash funds must verify to the cashier at the end of each
month the completeness of all outstanding cash funds. This is done by completing
the form "Monthly Verification of Cash Funds Received from the Business
Office." These forms will be mailed by the Business Office a few days
before the end of each month.
Petty cash funds can be reimbursed by submitting an approved requisition
payable to the Cash Fund. The requisition should contain an itemized list
of expenditures and be supported by "paid" receipts or itemized
cash register tapes.
The following practices must be observed in caring for cash funds. Failure
to follow these guidelines may cause the withdrawal of a fund:
1. No "IOU" slips will be allowed.
2. No personal checks may be cashed.
3. "Paid" receipts or cash register tapes must be obtained for
all money paid out. In the case of cash register tapes, expenditures should
be itemized.
4. A duplicate copy of any requisition for reimbursement should be kept
in the cash box until the reimbursement has been received. Receipts are
attached to the original requisition which is submitted to the Business
Office.
5. The completeness of the Cash Fund should be verified often -- at least
each working day. Cash Fund custodians should be prepared to account for
the completeness of the Cash Fund by internal or external audit at any time.
Vice-President for Administrative Services | 
