The purpose of a Petty Cash Fund is to accommodate departments which have a recurring need to purchase low value, non-stock items on a cash basis. All expenditures from the fund must be supported by receipted bills. Receipts must be legible, dated, itemized, indicate amount, bear the name of vendor and evidence of having been paid, and be signed by the purchaser.
Receipts are to be accumulated and retained with fund for subsequent reimbursement.
Indicate the proper account to be charged. The fund must be kept separate from any other funds. When not in use, the fund must be kept in a secure, locked facility. Periodic audits of the fund and methods of operation will be made by the Accounting Office and University auditors. In Event of Thefts 1.