Petty Cash and Change Funds (Domestic) Administrative Policy
Policy
This policy establishes guidelines for the appropriate use of domestic petty cash and change funds while establishing internal controls to minimize the University’s risk of financial loss. Petty cash and change funds (i.e., cash drawers) are approved and maintained where needed to pay for authorized incidental expenses or to make change where cash is regularly received from customers. They are considered loans from the University’s general fund, and an established Fiduciary must adequately safeguard them and return them when the fund is no longer being used or is closed.