Other Petty Cash Fund Guidance

Modifying a Petty Cash Fund

A new PCCF must be submitted for any of the following occurrences:

  • Custodian changes
  • Increase or decrease in authorized amount
  • Change in fund location
  • Closing the fund

Changing the Custodian

Whenever a change in custodian is required, the fund must first be replenished completely. The new custodian then completes a new PCCF form and submits the form to CCO. CCO will return a copy of the approved PCCF form to the new custodian. Until this is done, the previous custodian retains responsibility for the petty cash fund.

Increasing the Authorized Amount

Increases to existing petty cash funds are requested and processed in the same manner as establishing a new fund using a PCCF and PA form.

Decreasing the Authorized Amount

A petty cash fund should be reduced if the full amount is no longer needed. Partial returns (reductions) of the authorized amount must be made by deposits into the FOPPS from which it was advanced using account 000200. After depositing the cash, the custodian must provide CCO with a validated copy of the cash receipt and a PCCF. CCO will sign the PCCF and provide a copy to the custodian and send copies to the PSC, thus officially releasing the custodian of the responsibility for the amount of the partial return. Until this is done, the custodian remains responsible for the original total authorized amount.

Closing a Petty Cash Fund

When the petty cash fund is no longer needed, it should be closed.

  1. Count the fund to verify that it contains the authorized amount. Correct any variance using account 552630鈥揅ash Over/Short. If there is a cash overage, deposit using a Cash Receipt in step 3. For shortages, record the shortage on the PA in step 2.
  2. Submit a final PA to the PSC to replenish the petty cash fund for all outstanding final expenses, including any shortage from step 1.
  3. The designated individual within the department prepares and deposits a Cash Receipt for the full petty cash fund amount and any overage from step 1. The Cash Receipt should identify the speedtype associated with the fund, recorded in Account 000200 (Petty Cash Fund). Use account 552630 - Cash Over/Short for any overage.
  4. Send CCO a validated copy of the Cash Receipt with a new PCCF to close the Petty Cash Fund.
  5. CCO signs off on the PCCF form, updates its records, and sends copies to the PSC and to the former custodian, thereby releasing the latter from future responsibility for this fund.

Revocation of a Petty Cash Fund

Continued violation of these policies and procedures will subject the petty cash fund to revocation by CCO.