Effective Date: December 8, 2009
Last Reviewed: December 8, 2009


Purpose and Scope

The College maintains a petty cash fund in the Cashier’s Office for use by all departments to improve the efficiency of departmental operations. These funds are available to purchase minor items when it would be otherwise impractical to purchase items through the usual purchasing methods.

The Cashier is responsible for ensuring the cash on hand and receipts equal the authorized amount of the fund at all times.

Policy

Reimbursements

Students, Staff, and Faculty are allowed to be reimbursed through petty cash for purchases no greater than $100. In order to receive reimbursements, the following must be presented to the Cashier:

1. Completed Petty Cash Request Form containing budget approver signature.

2. Receipts supporting the reimbursement amount.

Before transferring money to the customer, the Cashier counts the funds in front of the customer. The receiver confirms receipt by signing the Perry Cash Request Form.

Advances

Students, Staff, and Faculty may take cash advances up to $100. In order to receive advances, a completed/authorized Petty Cash Request Form must be presented to the Cashier. Once the advance is spent, receipts are matched to the advance amount, at which point the following may occur:

• The amount per the receipt(s) is more than the advance. In this situation, adjust the amount on the Advance form and pay the balance to the customer from petty cash.

• The amount per the receipt is less than the advance. In this situation, the customer pays the difference back to petty cash.