Banking & Merchant Services processes and approves all requests for a new Petty Cash Fund or Change Fund (referred to as Cash Funds throughout this directive unless specifically indicated otherwise). The establishment of a fund requires approval from the Dean, Director or Department Head responsible for the ChartField and purpose of the fund. The fund must have one person designated as a custodian, although more than one person may have access to the fund.
Banking & Merchant Services is responsible for the stewardship of the University’s cash and investments, including Cash Funds. This directive provides assurance that Cash Funds will be authorized, well-safeguarded, and appropriately used.
All University departments.