Cash Handling and Banking Services
PETTY CASH PROGRAM
The purpose of a petty cash fund is to assist departments in conducting low-value purchases for which a bluCard can not be used. Petty cash funds may also be used to compensate human subjects in research efforts where payment by Human Subject Prepaid Card or check is not feasible. Departments that have an ongoing need to accept cash as a form of payment for goods or services will also use a petty cash fund to make change.
Cash Handling and Banking Services is charged with overseeing the establishment and handling of petty cash accounts, developing and implementing policies and best practices to strengthen petty cash controls, and performing central campus reviews of campus department petty cash accounts – for example, unannounced cash counts – thereby ensuring that transactions are in compliance with policies and best practices.