Petty Cash and Change Fund Custodial Responsibilities
Policy Number: 71
- Subject:
Establishment and use of petty cash and change funds
- Scope:
Employees
- Date Reviewed:
- March 2019
- Responsible Office:
- Treasury Management
- Responsible Executive:
- Senior Vice President, Finance and Business Services and Chief Financial Officer
I. POLICY AND GENERAL STATEMENT
Petty cash funds will only be established to reimburse employees and/or research participants for non-recurring, unexpected expenditures up to $150 per transaction. See Cash Handling Manual, Petty Cash Procedure. Change funds will be established and used to provide change for the clientele of certain areas (e.g., Parking and Recreation Center) and to patients of University clinics who wish to pay cash for medical services.
It is the responsibility of the custodian of the fund and the department head to administer these funds in accordance with all relevant University policies and procedures.
II. PROCEDURE
For information regarding the establishment, maintenance and closure of a petty cash or change fund, refer to the Petty Cash and Change Fund Guidelines. For information regarding payments to research participants, see Research Participant 1099 Guidelines on the Accounting and Budget website.
If a cash shortage occurs, refer to HOOP Policy 188 Receipt of Cash.
III. CONTACTS
-
- Treasury Management
- 713-500-4944
- TreasuryMgmt@uth.tmc.edu
- https://inside.uth.edu/finance/treasury-management/contact-us.htm