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Petty cash fund
A department's petty cash fund is normally used to repay acceptable low-value expenses for items which are generally not purchased through conventional UCSD procurement procedures.
It refers to the fund that is used to give change for cashiers and customers who pay by high-denomination bills. Each department establishes a custodian for the fund. Custodian is a person who is directly responsible for controlling and disbursing the cash.
How to Establishing a petty cash or change fund
• Complete the available application (Word file).
• Now mail this application to all the three General Accounting, Mail Code 0953, attention Petty Cash/Change Fund.
• Then General Accounting will inform you of the result of your application. If your request is approved, disbursement will issue and check will be mailed to the fund's custodian.
Once the petty cash fund is established, departments must follow these internal controls:
• Cash count and confirmation of funds must be done periodically, at least quarterly, by some other person than the custodian.
• Previous to June 30 of each year, General Accounting will mail a Certification of Possession form to each custodian for confirmation of university's funds.
• For annual closing, each June 30, all remaining petty-cash reimbursements must be given to Disbursements.