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Replenishing Petty Cash Funds

Directive Statement

The custodian is responsible for replenishing the Petty Cash Fund on a regular basis or when the cash fund is running low.  Petty Cash is a loan from Banking & Merchant Services, which means the money spent must be replenished at least once to bring the Petty Cash Fund back to its authorized balance.  Before the Petty Cash Fund can be replenished, it must be reconciled by comparing the amount of the authorized Petty Cash Fund balance to actual cash and receipt totals.

Reason for Directive

A Petty Cash Fund provides convenience for small transactions for situations when using a PCard or other payment method is unreasonable.  Banking & Merchant Services is responsible for the stewardship of the University’s cash and investments, including Petty Cash Funds.

Who Must Comply?

All University departments.

Procedures

To replenish a Petty Cash Fund, a custodian must do the following:

  1. Create an unencumbered voucher in myUF Payment Solutions (MPS) using the UF HR Toolkit – Creating a Check Request for an Unencumbered Payment
  2. The voucher should be payable to the custodian using the associated supplier ID number
    • Contact Disbursements to set up a supplier ID at addsupplier@ufl.edu
    • The supplier naming convention is “[Custodian Name] for Petty Cash”
  3. The expenditure(s) will be recorded against the appropriate departmental ChartField
  4. The voucher must be supported by the Cash Fund Activity Log and an image of the receipts must be attached

Please note: Commitment Control/General Ledger are not charged for a Petty Cash Fund expenditure until the Petty Cash Fund is replenished.  Once the voucher is created as part of the replenishment process, the payments will be reflected in the system and will therefore show up under the project purchases, if applicable.

UF’s Disbursement Services website provides detailed instructions on how to create an unencumbered voucher. Section 5E on the “Disbursements Directives and Procedures (PDF)” discusses unencumbered disbursements. 

Note that commitment control/PeopleSoft General Ledger is not charged for a Petty Cash expenditure until the Petty Cash Fund is replenished. Once the voucher is created as part of the replenishment process, the payments will be reflected in the system (and will therefore show up under the project purchases, if applicable).  

The department should keep all original receipts for auditing purposes in accordance with UF record retention requirements (as the rules for record retention depend on the type of funds used and the nature of the information, please contact the Records Management Office at 392-4180 for more information).  

Original receipts must be provided by departments when seeking reimbursements for their Petty Cash Fund. A “Replacement Receipt Form” must be completed and signed by both the supervisor and an authorized employee in the case of a missing or lost receipt.  

Definitions

Commitment Control (KK)

An accounting methodology that identifies and reserves (or “commits”) funds for future payment obligations.  It is designed to answer the question: “What is my available spending authority?” [Back to Top]

General Ledger

An account book of final entry.  In an accounting system, the general ledger is the place where financial information resides. [Back to Top]

Unencumbered

When a requisition and purchase order has not been created.  Unencumbered disbursements bypass the University’s purchasing system and should only occur where normal purchasing procedures are not available or where purchasing procedures do not provide any benefit to the transaction. [Back to Top]

Last Reviewed

07/31/2021: reviewed content

Resources

UF Record Retention

Toolkits

UF HR Toolkit – Creating a Check Request for an Unencumbered Payment

Contacts

Cashier’s Office: (352) 392-0185

Banking & Merchant Services: (352) 392-9057

Disbursements: (352) 392-1241

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