Office of Finance

Petty Cash Funds

 

CASH FUNDS:

 AUTHORITY TO ESTABLISH OR INCREASE A CASH FUND:

ST. LOUIS CAMPUS VICE CHANCELLOR FOR MANAGERIAL AND TECHNOLOGICAL SERVICES-Subject to compliance with University of Missouri-St. Louis standards, the St. Louis campus Vice Chancellor for Managerial and Technological Services has the authority to establish, increase or authorize the use of cash funds for the purpose of:

Making change in normal sales transactions including change-making services incidental to vending machine operations.

Cashing checks in accordance with specified standards. (REFERENCE - COM 305.2 Check Cashing)

Making cash purchases in accordance with specified standards. (REFERENCE - BPM 306 - Purchasing - Special Purchases - Petty Cash)

Making purchases of books for resale in accordance with specified standards.

OFFICE OF THE ASSISTANT VICE PRESIDENT FOR INVESTMENT AND BANKING - Only the Office of the Assistant Vice President for Investment and Banking has the authority to establish, increase or authorize use of cash funds for the purposes of:

Providing generalized banking services to include all authorized purposes for cash funds.

Making generalized banking services to include all authorized purposes for cash funds.

Make emergency payroll payments that can not be handled through an emergency hand drawn check in accordance with specified standards. This is not a special cash fund.

LIMITATION ON CASH FUND AMOUNTS:

PERIOD OF TIME FOR WHICH CASH FUNDS ARE AUTHORIZED:

RESPONSIBILITY FOR A CASH FUND:

SUBMITTING REQUESTS FOR CASH FUNDS:

RECORDING CUSTODIANSHIP OF CASH FUNDS:

DETERMINING RISK CLASSIFICATIONS:

MINIMUM SECURITY AND SAFEKEEPING STANDARDS:

TERMINATION OF A CASH FUND:

CHANGES IN FUND CUSTODIANSHIP:

MUST BE APPROVED IN WRITING - Any change in custodianship of a cash fund must be approved in writing by the level of authority required to establish the fund in question. Any change which is not approved does not relieve the custodian of record of responsibility and accountability for the fund.

TRANSFERS NOT REQUIRING APPROVAL - A change in custodianship does not occur when a custodian transfers funds to subordinates within the same department for operations consistent with the authorized use of the fund; therefore, approval is not required. Approval is required however for transfers to employees in other departments.

REQUEST TO CHANGE CUSTODIANSHIP:

MUST BE MADE IN WRITING - All requests to change custodianship of a cash fund must be made in writing to the level of authority required to establish the fund in question and must include:

Names of both the current and proposed custodians.

A complete accounting of the funds on hand itemizing cash, checks and paid-out receipts (if applicable).

Amount for which the cash fund is currently authorized

Explanation of any difference between amount for which the fund is currently authorized and amount currently on hand.

Signatures of both the current and proposed custodians certifying the accounting of funds on hand.

 

RECORDING CHANGES IN CUSTODIANSHIP: