Quick Steps: Close a Petty Cash Fund

Who does this?  Petty Cash Custodians or Department Heads

When?  When a petty cash fund is no longer needed

How?  By replenishing the petty cash fund to the original amount and then depositing the full amount at the University Cashier's Office

 

 

Close a Petty Cash Fund (3 steps)

step 1

Restore fund to original cash amount with no outstanding receipts or replenishment requests:

  1. Reconcile petty cash fund.
  2. Process outstanding receipts and submit replenishment request in iOU Petty Cash module.
  3. Receive replenishment check from Disbursements.
  4. Cash the replenishment check.
step 2

Contact Cash Management to obtain an account number to credit with the deposit:

  1. Complete University Cashier's Office Department Transmittal Form (Deposit Form):
    • Use the account Project, Task/Award and Expense Numbers provided by Cash Management.
    • Under Purpose indicate close a petty cash fund.
step 3

Take the full cash amount and the deposit form to the Cashier’s Office:

  1. Obtain a cash receipt from the Cashier's Office for the deposit.
Note:  Do not send cash through ID mail.
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What Happens Next?

  • University Cashier's office notifies Cash Management of petty cash fund closure.

Questions?

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