Petty Cash Custodian Agreement printable pdf download

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Petty Cash Custodian Agreement

Each petty cash fund established on the UNO Campus is entrusted to a custodian who is responsible for

enforcing the following policies and procedures.

Petty cash may be expended only for essential University business.

A detailed itemized receipt must be received for all cash expenditures.

Petty cash funds must be kept under lock and key in a secure location.

The total cash on hand and receipts for purchases must at all time equal the amount authorized

for the fund. If funds are extended to an employee to make a purchase, a temporary petty cash

receipt must be signed by the employee and must be cleared within 72 hours of its issuance.

No loans, travel expense, membership or entertainment reimbursements of any kind may be

made from petty cash funds. Reimbursements are not allowed through the petty cash fund for

items which should be processed on travel vouchers, check requests or through contractual

services. Direct Order and Purchase Order procedures must be observed at all times to control

pricing and obtain benefit of the university’s sales tax exemption status.

Petty cash funds may not be used to purchase items costing over $500.00 in accordance with

purchasing regulations, and at no time may exceed your Petty Cash fund total.

Such

transactions must be handled through the Purchasing Department.

Under no circumstances are checks, money orders, drafts, or other financial instruments from

any source to be cashed out of or used as part of the petty cash funds.

In order to replenish the petty cash fund, the custodian must complete a petty cash

reimbursement form. This form along with all of the receipts for the expenditures should be

presented to the Purchasing Department for approval as well as the Assistant Bursar or Bursar.

Following those two approvals, the reimbursement form can be brought to the Vault Accountant

for the cash exchange. The expenses will then be charged to the departmental budget and the

cash for the fund will be replenished. It is expected that receipts be cleared at least quarterly.

The custodian is responsible for the safekeeping of the fund. The fund should be counted on a

regular basis to ensure that the cash and/or receipts equal the amount authorized for the fund.

If a discrepancy is discovered, the Bursar and Director of Accounting Services should be notified

immediately.

10.

The petty cash fund must be made available to authorized University Bursar staff, Internal Audit

staff and the State Legislative Auditor for purposes of verification.

Petty cash funds may not be physically maintained at any location not on the University’s

11.

premises without specific written authorization from the Director of Accounting Services, a copy

of which must be on file with the Bursar.

Bursar’s Office, Lakefront, New Orleans, LA 70148 504.280.6489 bursarinfo@uno.edu

Petty Cash Custodian Agreement