Petty Cash

A department petty cash account may be established for those departments where it is deemed necessary to maintain cash on hand for specific purchases of an infrequent nature that are outside of the typical University purchasing process.

Establishment of a Department Petty Cash Account

All new, and any changes to a department petty cash account, require the approval of the University Controller's Office.

Requests must be made in writing (emailed to controller@udayton.edu) and include the following:

  • Physical location of account
  • Security of account when in use and when not in use
  • Responsible person & Department
  • Purpose or need for the account
  • Amount requested (including denominations)

If the request is approved, written approval will be sent along with instructions to pick up funds from the University Cashier’s Office (Office of Student Accounts.)  Requests should be made at least one week in advance of need in order to ensure funds will be available in the Office of Student Accounts.

Reconciliation of a Department Petty Cash Account

All department petty cash accounts must be counted, at a minimum, on the last day of every month. The cash on hand must be reconciled with the receipts and submitted to the University Controller's office by the 10th of the following month.

Department petty cash accounts in the amount of $300 or less, must submit reconciliations only for the months of December and June, by the 10th of the following month.

Submit to the University Controller's office: St. Mary's Hall, 421, 300 College Park,  Dayton, OH. 45469-1662 or controller@udayton.edu 

Forms to complete this reconciliation are available here.

Failure to complete reconciliations in a timely manner could result in the loss of your petty cash account.

Reimbursement/Replenishment of a Department Petty Cash

  • Complete a check request or petty cash voucher slip and attach all receipts.
  • Take completed check request/voucher slip and receipts to University Cashier’s Office (Office of Student Accounts). These expenses should be charged to your department fund and account, as appropriate. 
  • The University Cashier’s Office (Office of Student Accounts) will give you the amount of cash totaling your receipts.
  • The cash given by the University Cashier’s Office (Office of Student Accounts) plus the amount you already have should equal your authorized petty cash account.
  • Any overages or shortage should be credited or debited to your expense fund and the 7590 account when you replenish your account.
  • Blank reimbursement/voucher forms are available here.

 How to Close a Department Petty Cash Account

  • Complete a check request or petty cash voucher slip and attach all receipts.
  • Take completed check request/voucher slip and receipts to University Cashier’s Office (Office of Student Accounts). These expenses should be charged to your department fund and account, as appropriate. 
  • The Cashier will give you the amount of cash totaling your receipts.
  • The cash given by the cashier plus the amount you already have should equal your authorized petty cash/change account.
  • Deposit all cash with the Office of Student Accounts and indicate you are closing your University petty cash/change account. Any overages or shortage should be credited or debited to your expense fund and the 7590 account when you close your account and cash should be deposited into the University petty cash account.
  • A copy of the receipt closing your account should be retained in your department files as proof you closed the account.  An additional copy of the closing receipt should be forwarded to the University Internal Auditor (Controller's Office, St. Mary's Hall 421, +1662)

 

TAX EXEMPTION: The University is tax exempt for most purchases. When a purchase is made, the vendor should be informed of the University’s tax exempt status. Tax will not be reimbursed for your purchases. “Blanket Certificate of Exemption” Form is available here.

 any petty cash theft should be reported to Campus Security and a copy of their report filed with Internal Audit.


Department petty cash may not be used and will not be reimbursed for:
  • Alcoholic beverages.
  • Personal uses (i.e. IOU's, check cashing).
  • Purchases of items costing greater than $50.
  • Postage, meter mail, and shipping.
  • Travel and entertainment/guest care (i.e. food, conferences, etc.).
  • On-campus food service charges.
  • Wages and gifts to employees or students.
  • Subscriptions, periodicals, etc. 
Any purchase made using a petty cash account should follow all university purchasing policy requirements as applicable.

Petty cash custodians are responsible for ensuring that the petty cash users follow these policies. Failure to follow these procedures will result in the loss of your petty cash fund.

More Information

Department Petty Cash Policy

Department Change Fund Policy