Each office will be assigned a petty cash fund of $300. All petty cash is to be kept secured in a locked cash box located in a safe location in the office. Individual purchases of up to $100 can be processed using petty cash. Petty cash may not be used for travel or travel-related expenses (including meeting registration fees) nor for third-party payments.
The use of petty cash should not be a substitute for the use of purchase requisitions for regular procurement.
Petty cash will be replenished at least quarterly using an RCUH Petty Cash Summary Sheet. Original receipts must be submitted that clearly identify and itemize all purchases, together with an itemized listing of each expenditure by budget category, amount, and transaction date. More frequent replenishment of petty cash is encouraged in order to avoid the use of “Reimbursement for Cash Purchases.”
Each center has a designated Petty Cash Custodian to oversee their petty cash fund. This person, normally the administrative assistant for that center, will be fully responsible for the accounting of the money in the fund. When there is a change in the petty cash custodianship, a written request with a sample signature of the new custodian, must be submitted to the State Office for approval.
Any loss or theft of petty cash should be immediately reported to the State Office in writing.
See related topics in this section:
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Petty Cash Fund and Custodian |
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