Department heads may submit a Support Request to increase or decrease the size of a petty cash fund. The increase requires the review and approval from the Office of the Treasurer (OOT). The decrease requires the petty cash custodian to reconcile the fund and return the unused cash.
Increase a Petty Cash Fund
Before You Start
You need the petty cash fund number (82XXX).
- Submit a Support Request
- Include the following information in the request:
- Petty cash fund number (82XXX)
- Department name and location
- Custodian name
- Reason for requested increase in fund size, including:
- Types of transactions for which the petty cash fund is used
- Reason(s) why alternative purchasing methods (i.e., department PCard or Expense Requests reimbursements) are not feasible
- Requested dollar amount of increase
- Select Submit
- The request is reviewed and approved or denied by the OOT. The requestor (department head) is notified of the decision. If approved, Payment Services sends a check to the petty cash custodian via ID Mail.
Decrease a Petty Cash Fund
Before You Start
Department heads must make requests, and petty cash custodians must reconcile the fund and deposit the unused funds.
- Determine new, lower amount of petty cash fund
- Calculate excess cash (original petty cash amount minus the new amount)
- Contact Financial Support Center to obtain Project, Task, Award and Expenditure (PTAE) needed to deposit the funds
- Prepare to deposit the funds using, (see details at How To Process and Deposit Department Receipts)
- Use the account PTAE type provided by the Financial Support Center
- Under Explanation of Deposit, indicate “Decrease Petty Cash Fund # 82XXX”
- Deposit excess cash at Wells Fargo bank branch
- Receive and retain the bank receipt from Wells Fargo
- Send a copy of deposit receipt to Financial Support Center for Petty Cash Team
- Retain deposit receipt with Petty Cash Records
- The OOT sends a confirmation email to the requesting department that the amount of the petty cash fund has been decreased.