All Cash Funds are subject to periodic, unannounced counts and reviews. The count and review will consist of counting the fund’s cash on hand along with reviewing any unreimbursed receipts for proper documentation. The amount of cash on hand along with un–replenished receipts and money that has been checked out should always equal the total amount of the authorized fund balance. Any discrepancies between cash, receipts, and the Cash Fund Activity Log will be investigated further. It will also consist of assessing the controls around the Cash Fund to confirm that the fund is being used for its intended purpose and whether it is still necessary. The custodian is responsible for maintaining the Cash Fund and having it available, via backup custodian, for Banking & Merchant Services review even when they are not available. The custodian should witness the count and review, as well as provide explanation for any variances. The custodian will be provided a copy of the Cash Count Sheet for retention purposes. At the completion of the Cash Fund review process the reviewers will provide the custodian the results of the review. The “Cash Fund Checklist” form should be reviewed, signed, and returned to Banking & Merchant Services at TMhelp@admin.ufl.edu.
Cashier’s Office: (352) 392-0185
Banking & Merchant Services: (352) 392-9057