Petty Cash or Change Fund
This guideline will address the establishment, increase, decrease and closure of Petty Cash and Change Funds, as well as the rules and regulations in the Integrated CSU State Administrative Manual (ICSUAM) regarding accountability, authorized amounts and audits
List of Guidelines Below
Per ICSUAM Section 6320.00, the campus CFO or his/her delegate may establish Petty Cash and Change Funds (PCC) at approved locations. Each PCC Fund shall be used strictly in accordance with the purpose for which it was authorized.
Requests and authorization of PCC Funds must be documented in writing. Please contact firstname.lastname@example.org to request petty cash or change fund.
Decreasing or Closing a Petty Cash or Change Fund
If a decrease in an existing fund is determined or to close a change fund or petty cash fund, notify Accounting Services & Financial Reporting (ASFR). An unannounced final cash count will be done as soon as ASFR is notified. After the final audit, the custodian of the fund must take the cash equal to the desired decrease or the full amount of the fund to the University Cashiers Office (UH-180). Complete the Deposit or Reimbursement to University Account form prior to making the cash deposit. On the form, use CASHNet item code S4000. This will credit account 580093 (Other Non-operating Revenues). Once the deposit is made, submit an Expenditure Transfer Request (ETR) form to reclassify from account 580093 to 101009 (Cash on Hand). Attach a copy of the receipt issued by the Cashier.
Custodianship of a given fund should be assigned to a single individual. The custodian will be personally responsible for the amount of the fund.
To change custodians, complete and submit the Custodian Transfer Request – Change/Petty Cash Funds form . This form must be completed prior to the departure of the relieved custodian. Keep a copy of the signed form and forward the original to Accounting Services & Financial Reporting.
Note: To obtain replenishment of the fund, go to Accounts Payable to process a check request.
All change funds and petty cash funds must undergo an independent surprise audit in accordance with the following schedule:
|Size of Fund||Frequency of Count|
|$200.00 or less||Annually|
|$200.01 to $500.00||Quarterly|
|$500.01 and up||Monthly|
These audits will be performed by Accounting Services and Financial Reporting, in the presence of the custodian of the fund. The Petty Cash Fund Audit and Change Fund Audit Forms will be completed at the time of the audit by the auditor of the funds and will be signed by the custodian and the auditor. A copy of this form will be given to the custodian at the conclusion of the audit. Any irregularities will be discussed and noted. A copy of the audit results will be submitted to the Accounting Officer for review and will be retained.