Establish a Petty Cash Fund
Before You Begin
Units may keep petty cash funds of up to $1,000 for the purchase of miscellaneous and incidental items of small value. University Student Financial Services and Cashier Operations (USFSCO) advances this money at each campus. Petty cash funds are subject to an audit by the Office of University Audits and/or verification by USFSCO at any time.
Begin
To establish a petty cash fund:
- The unit head designates one employee as custodian of the fund.
- Urbana and Springfield custodians complete online training. Chicago custodians also attend a training course in person.
- Access the Request New Fund form which is online at the USFSCO Petty Cash & Change Funds website. Select "Petty Cash" as the fund type and limit the amount to the cash needed for 2 to 4 weeks.
Submitting the form automatically generates an e-mail to the unit head who must reply indicating whether or not they approve establishing the petty cash fund.
Request New Fund
Serve as a Petty Cash Fund Custodian
USFSCO Petty Cash & Change Funds
Petty Cash and Change Fund Training
Campus USFSCO Office locations and hours:
Urbana
Chicago
Springfield
Last Updated: October 21, 2011 | Approved: Senior Associate Vice President for Business and Finance - February 2008