All petty cash funds must be authorized by the Associate Controller. Requests for such funds should be submitted in writing to the Sponsored Project Finance Office for review and approval and must include the information itemized above. The Sponsored Project Finance Office will forward approved requests to the Associate Controller s Office for final review and approval and establishment of the petty cash fund. The supervisor of the custodian must authorize the check request. All expenditures require receipted proof of purchase to be maintained as expense documentation for each fund.
Proper documentation is the responsibility of the petty cash fund custodian.
At any point in time, the petty cash fund should always be equal to the sum of cash on hand plus documented proof of purchase receipts. The petty cash custodian is responsible for the petty cash fund, its safekeeping and its operation, according to these and any subsequently issued procedural guidelines. The petty cash custodian is responsible for providing adequate precautions for the safekeeping of monies in their custody. The fund should be kept in a locked steel file cabinet or small safe, to which there is limited and controlled access. Funds should not be left unattended and unsecured.