A. Procedure

1. INDIVIDUAL REIMBURSEMENTS

The University Cashier's Office maintains a petty fund for use by all departments for student reimbursements under $50. Individual reimbursement for petty cash expenditures may be obtained by submitting a properly prepared Petty Cash Reimbursement Request form to the Cashier's Office accompanied by the original receipts. Requests for reimbursement must always be hand carried, never sent through the campus mail, and must be submitted within 30 days of the date of purchase.

Requests for reimbursements for individual employees must be sent to the Accounts Payable office via a completed check request form accompanied by the original receipts. The form and receipts can be sent via interoffice mail but must be submitted within 30 days of the date of purchase. Reimbursements to non- employees would also be reimbursed via this method. Petty Cash reimbursements do not apply to travel related reimbursements.

2. PETTY CASH FUNDS

a. Establishing a Fund

Any department or activity seeking to establish a petty cash fund must submit a written request to the Controller/Associate Controller justifying the need for a fund. The Controller/Associate Controller will notify the requesting department and General Accounting of approval or disapproval.

b. Petty Cash Fund Responsibilities

Upon authorization of a petty cash fund, the department or activity is responsible for safeguarding the fund and for following university policy and procedures in petty cash expenditures, reconcilement, and reimbursements.

(1) Custodian

The head of each department or activity must designate one specific individual to act as custodian of the petty cash fund. The custodian shall be responsible for acquiring a thorough knowledge of this policy and for maintaining the petty cash fund in accordance with the procedures contained herein. Access to the petty cash fund should be restricted to the custodian only. Petty cash funds are non-transferable. If there is to be a change of custodians, the Controller/Associate Controller must be notified in writing and the petty cash funds reconciled back to the authorized fund level and submitted to General Accounting prior to the change in custodians. The new custodian will be issued a petty cash fund in his/her name.

(2) Restrictions

Petty cash funds shall be kept separate and apart from all other funds. They are not to be commingled with personal funds, miscellaneous cash receipts, or revenue of any type which may have been collected. Neither are they to be used for purchasing personal services, making advances to employees, cashing checks, making change, purchasing stamps, or making other non-operating disbursements.

(3) Safeguarding a Fund

The head of the department or activity and the custodian of the petty cash fund are jointly responsible for ensuring that the funds are properly safeguarded. When not in use, the funds shall always be stored in a locked container in a locked desk and/or office. If a loss of these funds occurs, such loss (depending upon the circumstances) may have to be paid from the department's own funds. University Police may be contacted for advice on the proper methods for safeguarding a fund. All thefts shall be reported by the department to the Director of University Police, the Internal Auditor, and the Controller.

c. Expenditures

Each petty cash expenditure shall be supported by both an original receipt and a Petty Cash Reimbursement Request form. Receipts and Petty Cash Reimbursement Request forms are to be kept with the fund until it is reimbursed. Expenditures chargeable to several university account codes may be paid out of a single petty cash fund. d. Reconciling the Petty Cash Fund

The custodian is responsible for reconciling the petty cash fund on a periodic basis. Reconciliations are required prior to requesting reimbursement to the fund. At all times, the total of cash on hand plus unreimbursed Petty Cash Reimbursement Request forms, with original receipts attached, should equal the total amount of the authorized petty cash fund. e. Reimbursement

Before all petty cash has been expended, the custodian should reconcile the petty cash fund and request reimbursement. To request reimbursement the custodian will 1) create a journal entry on Banner screen FGAJVCQ to record the petty cash expenditures; 2) inform General Accounting by email a reimbursement request is forthcoming; 3) hand deliver the Petty Cash Reimbursement Request form(s), original receipts, the Petty Cash Fund Reconcilement form, and cash balance to General Accounting. The Lead in General Accounting will verify the cash balance and documentation and release a check to the custodian for the authorized petty cash fund amount.

(1) Cash Over.

The amount of cash over shall be noted on the Petty Cash Fund Reconcilement form submitted to General Accounting. The Lead Accountant will collect from the custodian the total petty cash fund including the cash over amount and deposit it with the Cashier's Office into Clearing Fund 299200. General Accounting will process a journal entry to adjust the petty cash fund balance in 299200 to its authorized fund level and post the cash over to the departmental fund and account 109950. Any cash over found during an internal will be remitted immediately to General Accounting by the custodian.

(2) Cash Short.

The amount of cash short shall be noted on the Petty Cash Fund Reconcilement form submitted to General Accounting. The Lead Accountant will collect from the custodian the total petty cash fund less the cash short amount and deposit it with the Cashier’s Office into Clearing Fund 299200. General Accounting will process a journal entry to adjust the petty cash fund balance in 299200 to its authorized fund level and charge the cash shortage to the departmental fund and account 109940. The reimbursement to the petty cash custodian will be adjusted to the authorized fund level. All cash shortages of $10.00 or more must be approved by the Controller/Associate Controller prior to reimbursement.

(3)Time Limits for Submitting Reimbursement Request

Reimbursement must be requested within thirty days after the is incurred.

f. Changing the Amount of the Petty Cash Fund

The amount of a petty cash fund may be increased, provided the increase is justified, by submitting a written request to the Controller/Associate Controller. A petty cash fund must be reduced whenever the total amount of the fund exceeds the actual needs of the department or activity. That portion of the fund in excess of the department's needs should be hand delivered to General Accounting with a memo indicating the amount by which the fund was decreased. All petty cash funds must be hand delivered to General Accounting when the funds are no longer needed.

g.

Petty cash funds are subject to periodic audit by Internal Audit and State Auditors. Such audits will require reconcilement of the petty cash fund and will also include a review of internal controls.

3. FISCAL YEAR-END PROCEDURES

All petty cash funds must be reconciled and submitted to General Accounting by the advertised fiscal year-end deadline. Petty cash funds are reissued the first week of the new fiscal year.

B. Forms

1. PETTY CASH REIMBURSEMENT FORM http://www.uncw.edu/controller/documents/PettyCashUserForm4.23.15.pdf

2. PETTY CASH FUND RECONCILEMENT FORM http://www.uncw.edu/controller/PettyCashFundReconcilement- UNCWAdmin_FormCSH1_20A.mht