Purpose of petty cash
A petty cash float (normally up to a maximum of £100, unless the Director of Finance gives written consent to increase the limit) may be required by departments to defray minor expenses incurred by University employees on department activity.
The petty cash procedures aim to ensure
Departments accurately account for their petty cash expenditure.
Control is maintained over both the nature and level of expenditure.
Security measures are in place to minimise the potential for fraud/misuse of petty cash.
Adherence to the University’s purchasing policy.
Staff responsible for the petty cash float must ensure the records are always up to date, including making timely posting of petty cash journals and promptly inputting disbursements to UFS.