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Contents Edited by the Administration & Finance Customer Service Center
 

1.      Complete the “Request for Establishment or Modification of a Departmental Cash Fund and Acknowledgement of the Receipt of Funds and/or Cash Policies and Procedures” (Addendum A) at: http://www.uh.edu/finance/Forms/050101A.doc.

2.      Prepare a justification memo approved by the appropriate College/Division Administrator, which includes:

a.       Detailed explanation of need for cash fund

b.      Justification for the infeasibility of alternative methods of procurement

c.       Estimated activity level

d.      Name of proposed fund custodian and description of safeguarding methods

3.      New fund custodians must complete online Petty Cash and Change Fund training prior to requesting a petty cash or change fund.

4.      Send the completed Addendum A, justification memo, and proof that the new fund custodian has completed online Petty Cash and Change Fund training (if applicable) to Anne Montgomery in the Treasurer’s Office (emontgomery2@uh.edu or mail code 2009) for consideration.

5.      The Treasurer’s Office will review the justification and approve or disapprove the request based upon the individual facts and circumstances. A copy of the Request for Establishment form will be returned to the requesting individual indicating approval or disapproval. A copy will also be sent to General Accounting.

6.      If the request is approved, the department will submit a voucher to Accounts Payable with the following information:

a.       Payable to the UH Cashier’s Office (vendor ID 0000007916, address 141)

b.      Invoice equal to fund custodian’s name and type of fund (Example: John Doe petty cash).  Note: The Invoice field will hold up to 30 characters.

c.       Invoice Date equal to today’s date

d.      Voucher Comments: indicate purpose of voucher (Example: Establish petty cash fund for $500 in the Physics Department with John Doe as the fund custodian.)

e.       Amount equal to the approved petty cash or change fund amount

f.        Account 10102 (Petty Cash) or 10103 (Change Fund)

g.       Department’s local fund cost center

h.       Backup documentation: Addendum A approved by Treasury

7.      Department notifies Anne Montgomery (emontgomery2@uh.edu) of the voucher number.

8.      The check may be cashed at SFS provided 24 hours advanced notice is given to SFS for any check greater than $2,000.

Steps for Annual Reauthorization of a Petty Cash or Change Fund

1. Complete the “Request for Establishment or Modification of a Departmental Cash Fund and Acknowledgement of the Receipt of Funds and/or Cash Policies and Procedures” (Addendum A) at: http://www.uh.edu/finance/Forms/050101A.doc

2. Make a copy of the fund’s Overage/Shortage Reports for the past 12 months and the most recent Audit/Review Report prepared by General Accounting or Internal Audit.

3. Send the completed Addendum A, Overage Shortage Reports, and Audit/Review Report to Anne Montgomery in the Treasurer’s Office (emontgomery2@uh.edu or mail code 2009) no later than July 1.

4. Reauthorization will be subject to review of these documents and evaluation of the previous management of the cash fund.  The Treasurer’s Office will notify the department and General Accounting if the cash fund is authorized to continue.

5. If authorized to continue, the fund custodian will be enrolled in online Petty Cash and Change Fund training for the next fiscal year and must complete this training by December 31.

Steps to Replenish a Petty Cash Fund (Change Funds are Not Replenished)

1.      Submit a voucher to Accounts Payable with the following information:

a.       Payable to the UH Cashier’s Office (vendor ID 0000007916, address 141)

b.      Invoice equal to fund custodian’s name and type of fund (Example: John Doe petty cash).  Note: The Invoice field will hold up to 30 characters.

c.       Invoice Date equal to today’s date

d.      Voucher Comments: indicate purpose of voucher (Example: Replenish petty cash fund in the Physics Department.  John Doe is the fund custodian.)

e.       Amount to be replenished (i.e., amount purchased with the petty cash fund)

f.        Expense account(s) that describe the purchases made with the fund

g.       Department’s local fund cost center

h.       Backup documentation: Receipt for each purchase that totals the amount to be replenished (see MAPP 05.01.01 for petty cash transaction and receipt requirements)

2.      The check may be cashed at SFS provided 24 hours advanced notice is given to SFS for any check greater than $2,000.

3.      When do you replenish a petty cash fund? If one of the following is true:

a.       If the amount disbursed from the fund since the last time it was replenished exceeds $50, replenish the fund on or before the last day of the month.

b.      On or before the last day of the fiscal year, replenish the fund to its original amount no matter how much was disbursed since it was last replenished.

c.       If the fund will be closed, replenish the fund before it is closed to restore the fund to its original amount.

Steps to Close a Petty Cash or Change Fund

1. Complete the “Request for Establishment or Modification of a Departmental Cash Fund and Acknowledgement of the Receipt of Funds and/or Cash Policies and Procedures” (Addendum A) at: http://www.uh.edu/finance/Forms/050101A.doc

2. Make a copy of the journal entry to deposit the petty cash or change fund back to the department cost center where it was withdrawn.

3. Send the completed Addendum A and copy of the journal entry to Anne Montgomery in the Treasurer’s Office (emontgomery2@uh.edu or mail code 2009), who will notify General Accounting that the fund has been closed.