Petty cash funds

Petty cash funds are used to pay for small dollar purchases or low dollar reimbursements for faculty, staff and students.  The purpose of these funds is to decrease the number of reimbursements to faculty, staff and students for low dollar amounts.  Where practical, purchases should be made using a UVic C Card or claimed as a reimbursement.

A petty cash fund should generally be less than $200 in total.  It must have a designated custodian who is responsible for safeguarding the funds by storing it securely, distributing funds, and ensuring that receipts are collected to support the transaction.

Funds can be requested and closed using the petty cash fund request / closure form (NEW online format).  As petty cash funds are issued in the personal name of the custodian, if the departmental custodian changes, the existing fund must be closed out and one requested in the name of the new custodian.  For operational reasons, the new fund can be requested before the old fund is closed, if the name of the new custodian is known, in order to have funds available while the new fund is being issued.

Replenish petty cash funds

To replenish your petty cash funds, complete and submit a business expense reimbursement report in Chrome River and indicate that this is to replenish petty cash funds. Attach all receipts to the report in Chrome River.

Alternatively, you can complete and submit a business expense reimbursement claim form via the form submission portal.

Forms:

• Petty cash fund request / closure (NEW online format) – used to request a new petty cash fund or close an existing petty cash fund
• Business expense reimbursement claim – used to submit receipts and to request replenishment of a petty cash fund
• Cash and cheque remittance – to return unused cash when closing a petty cash fund

Resources:

• Petty cash fund quick guide – additional information on how to request, replenish or close a petty cash fund, responsibilities of a custodian, and how to change departmental custodian