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California State University, Long BeachCalifornia State University, Long Beach

Petty Cash Change Fund Authorization Form and Petty Cash Procedures

  • Issue Date: N/A
  • Revision Date: 07/01/09
  • Expiration Date: N/A

Initiating Petty Cash Fund or Change Fund

The Department Head or Department Manager must complete a Petty Cash/Change Fund Custodian Authorization Form, which specifies the amount of the fund, the name of the Custodian, and the fund from which the Petty Cash or Change fund will be issued. The completed form should be signed by the Department Head/Manager and sent to the General Accounting Manager.

The General Accounting Manager will send an Establishing of Petty Cash/ Change Fund Custody Form to the Cashiering Supervisor (Student Financial Services), authorizing the Cashier's office to issue the approved amount of cash to the Custodian.

The Cashier's Office will contact the Custodian to inform him/her when the cash is ready for pick-up at Cashier's office. At the time the cash is provided to the Custodian, both the Custodian and the Cashiering Supervisor should sign the Establishing of Petty Cash/ Change Fund Custody Form. The original of this form should be returned to the General Accounting Manager for record keeping purposes.

If the request is denied, the General Accounting Manager will send to the Department Head/Manager a notice as to the reason.

Changing the Cash Fund

To request an increase or decrease to the fund, the same procedure above should be followed.

Transfer of Fund Custody

The Custodian is personally responsible for the amount advanced when setting up the Petty Cash or Change Fund.

Transfer of funds to a successor is not authorized. If a successor is to be furnished a petty cash fund, a new request is required.

Transfer of fund custody has properly taken place after the following procedures have been performed:

  1. The outgoing custodian must re-deposit the Petty Cash/Change fund at the Cashier's Office.
  2. A new Petty Cash/Change Fund Custodian Authorization Form requesting a new petty cash / change fund signed by the Department Head or Manager is submitted to the General Accounting Manager.
  3. The Cashier's Office will contact the new Custodian to inform him/her when the cash is ready for pick-up at Cashier's office. At the time the cash is provided to the Custodian, both the Custodian and the Cashiering Supervisor should sign the Establishing of Petty Cash/ Change Fund Custody Form. The original of this form should be returned to the General Accounting Manager for record keeping purposes.

Closing a Petty Cash or Change Fund

When closing a petty cash fund or change fund the custodian must re-deposit the Petty Cash/Change fund at the Cashier's Office.

Reimbursement to Employee

  1. When making the authorized cash purchase, the employee must obtain either an invoice or receipt from the vendor. A cash register tape which includes the vendor.s name, date and the amount of purchase, and a brief description of the item(s) purchased is acceptable if an invoice or receipt is not available.
  2. The employee must complete a Disbursement Voucher (hyperlink page 4) following these Instructions (hyperlink) in order to obtain a reimbursement.
  3. The employee must present the Disbursement Voucher to the appropriate authorized petty cash Custodian for reimbursement of cash purchases.
    1. 1. If employee.s Department has their own Petty Cash Fund, the employee should present the approved original „Petty Cash Disbursement Voucher. and the original receipt to the departmental petty cash custodian for reimbursement.
    2. 2. If employee.s Department does not have their own Petty Cash Fund, the employee must present the approved original „Petty Cash Disbursement Voucher. and the original receipt along with an employee.s campus ID to the Cashier's office for reimbursement. If an employee is receiving the funds on behalf of the purchaser, he/she must submit the same documentation, including his/her campus ID, before reimbursement can be made.

Petty Cash Custodians

The following steps must be taken by Petty Cash Custodian whenever a petty cash voucher is presented for reimbursement:

  1. The voucher must be completed as follows:
    1. A receipt must be attached.
    2. The receipt total(s) must match the voucher total(s).
    3. The voucher total must not exceed $100.00 exclusive of sales tax.
    4. Chartfield information must be included.
    5. All required signature fields must be completed by authorized personnel.
  2. The employee.s identification card must be presented before reimbursement can be made.
  3. The voucher and the employee.s identification card must be submitted to the petty cash custodian for reimbursement.
  4. The voucher must be stamped with the “Cashiers. Paid” stamp and correct date must be stamped on all copies of the voucher.
  5. The cash purchases must be recorded in the Petty Cash Expenditures Summary.

Custodians Replenishment of Petty Cash Funds

  1. At least once per month, the Petty Cash Custodians at the departments must turn in all disbursement vouchers and corresponding receipts to the Cashier's office for replenishment.
  2. At least once per month, the Petty Cash Custodians at the Cashier's Office will total all disbursement vouchers for the month and order a replenishment from Wells Fargo Bank.
  3. Cashiers office will send all disbursement vouchers and receipts to General Accounting on a monthly basis. General Accounting will review documentation and prepare a journal entry to record the expenses.

FORMS

  1. Petty Cash Disbursement Voucher
  2. Petty Cash/Change Fund Custodian Authorization Form
  3. Establishing of Petty Cash/Change Fund Custody