Petty Cash Policy
| Document Number | 000493 |
|---|
1. Introduction:
This policy meets the requirements on the University for probity and accountability in the handling of money.
This Policy must be read in conjunction with the Petty Cash Procedure.
2. Policy Intent:
To ensure that petty cash floats are established and managed appropriately and that staff, students and visitors are not financially disadvantaged as a result of incurring minor work related expenses.
3. Relevant Definitions:
Acquittable - Requiring substantiation and reconciliation of the amount of cash advance advanced to actual receipts/invoices.
Petty Cash Custodian - Staff member authorised to monitor, distribute and acquit a petty cash float.
4. Policy Statement and Principles
4.1. Petty cash funds are provided to reimburse individuals for non-travel, out-of-pocket expenses.
4.2. Petty cash can be used to reimburse individuals for amounts less than $100 (GST inclusive).
4.3. Transactions are not to be spilt to circumvent this limit.
4.4. Petty cash can be used in place of the university purchasing card only when necessary, for example, as reimbursement for small, incidental department expenses when it is not feasible to use normal purchasing means.
4.5. A petty cash fund can also be used in a department or unit as a "change fund" for handling ticket sales, or as a vehicle to pay research participants where confidentiality or anonymity is required.
4.6. The creation/existence of new and existing petty cash floats are subject to initial and ongoing review of the need for the petty cash float.
5. Essential Supporting Documents:
6. Related Documents:
| Approval Authority | Vice-Chancellor |
|---|---|
| Date for Review | 16 March 2010 |
| Policy Sponsor | Deputy Vice-Chancellor (Services) |
| Policy Owner | Director, Corporate Services |
| Policy Contact | Associate Director, Commercial Services |
| Amendment History | Amended Policy Owner 24 March 2010 Amended Policy Contact - 19 August 2010 |