Advance of cash (petty cash) funds are established for departments that require startup funds to be able operate and maintain their business purpose. The Â鶹AV strongly discourages the establishment and/or use of these funds.
If a department is approved to maintain an advance of cash (petty cash), these funds may NEVER be used for the following:
- Salaries, wages, payroll advances, or similar payments to individuals
- Purchases of goods and services for University use
- Purchases of goods and services for personal of faculty or staff members
- Travel advances, entertainment expenses, and loans to employees or students
- Cashing checks
Questions or comments concerning this policy or petty cash accounts can be directed to Angie Smith, CPA.
- Petty Cash Fund Policy (pending)