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Petty cash funds may be used for appropriate departmental
expenditures of $100 or less. They may not be used for salaries, current
accounts to be paid monthly nor advance payments. No loans or advances to
employees may be made from the fund. No checks may be cashed from this fund.
It may be used for making change.
The amount needed to establish a departmental petty cash fund
will come from the department’s current year appropriations for operating
expenditures. The maximum amount allowed for a petty cash fund is $500.
The petty cash fund may be maintained in cash; it is not
required to be maintained in a bank. Each department is responsible for the
safekeeping of the fund. It is not to be commingled with funds of any
employee, but is to be maintained in a businesslike manner in an approve
location with adequate security.
To request a Petty Cash fund, the department must fill out form DA-71:
Petty Cash Fund Maintenance. Check “Establish new fund”. For agency name
write KU, followed by the department’s name. List the amount requested,
funding source, proposed use of fund, proposed location, security provided
and the designated employees. Do not sign in the “Agency Authorized
Signature” area. Forward this form to CASPUR for processing to the state.
When approved, CASPUR will have a check issued payable to Petty Cash Fund #
_______, using the funding provided by the department. The petty cash fund
custodian cashes the check and places the cash in a secure location.
This same form is to be submitted to request a change in amount
and each time there is a change in custodian, alternate custodian or
supervising employee.
For each disbursement from the fund, the petty cash fund
custodian must fill out a pre-numbered receipt showing the date, payee’s
name, payee’s signature, description of item purchased, expenditure account
code and custodian’s name.
DA-73:
Reconciliation of Petty Cash Fund - This form is used for reconciliation
of the petty cash fund. Reconciliation is to be done at least monthly, even
if no expenditures have been made. Do not process a voucher for less than $5,
except at fiscal year end. A copy of the reconciliation done at the time of
fund replenishment should be attached to the transaction log and submitted to
CASPUR.
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