|Approved by||Chief Financial Officer|
|Date Procedure Took Effect||16 April 2002|
|Last Approved Revision||5 July 2013|
|Sponsor||Chief Financial Officer|
|Responsible Officer||Financial Controller|
|Review Date||5 July 2018|
These procedures relate to the establishment and operation of Petty Cash by University Departments.
- Accounts Payable Office - Financial Services Division Accounts Payable Office
- Finance One - University Corporate Financial System
- UOC - University of Otago Christchurch
- UOW - University of Otago Wellington
Use of Petty Cash
Petty cash should only be used where the use of a purchasing card or another method of payment is uneconomic or inefficient. Petty cash must not be used for staff reimbursements.
Management of Petty Cash
Ensure one member of staff is responsible for petty cash.
Receipts must be obtained for all petty cash purchases.
Petty cash must be kept in a locked container in a locked drawer or cabinet.
Petty Cash reimbursements should be sought well before the entire petty cash float is exhausted, as the Accounts Payable Office only pays reimbursements once a week.
Reimbursement of Petty Cash
Reimbursements will be processed using the appropiate Finance One document format.
Attach all receipts to the petty cash form in the same order as they are listed on the form.
Reconcile the petty cash by adding the cash on hand to the total expenditure on the claim form. The total of these two amounts should equate to the total petty cash advance.
Ensure that the form is certified as being correct, i.e. approved by the Head of Department.
Send all documentation to the Accounts Payable Office.
Reimbursement will be made in the form of a cash cheque issued through the Accounts Payable Office.
Cheques under $200 will be distributed by mail.
For cheques over $200, you will be advised when the cheque is available for collection from the Accounts Payable Office, room 144 first floor Clocktower building.
All UOC and UOW cheques will be delivered by mail.
Sign the attached receipt and return it to the Accounts Payable Office immediately. This is your acknowledgment of having received the cash cheque.
Petty Cash Reimbursement Cheques
Must be presented promptly at the bank.
Contact for Further Information
For further information, contact the Financial Controller, extn 9247 or email firstname.lastname@example.org