Business and Financial Policies and Procedures
 

Replenish Petty Cash Funds

Before You Begin

Petty cash funds may not be replenished (reimbursed) for amounts greater than the original amount of the fund. Replenish the fund regularly, but at least quarterly. In addition, always include replenishing the petty cash fund in your fiscal year-end procedures.

Begin

To replenish petty cash funds:

  1. Gather these items:
  • An original vendor receipt for each expenditure showing the date, amount, and description of purchases. If the vendor does not normally furnish receipts, document the transaction using a Missing Receipt Affidavit form.
  • If the custodian did not purchase the item, obtain the buyer’s signature and purchase date on the receipt or invoice.
  1. Complete the Employee Travel/Expense Reimbursement form.
In the Name field, enter your name as custodian and payee (for example, Jane Doe (Custodian). Enter your University Identification Number (UIN).
  • In the description area, enter "Petty Cash Replenishment."
  • Itemize all disbursements - List the date, amount, and business purpose for each expenditure.
  • Show the appropriate fund(s) charged.
Obtain a unit authorized signature. Keep a copy of the form in your unit.
  1. Scan and e-mail the form with "Petty Cash" in the subject line along with supporting documentation:
Urbana - obfsupaycashrequests@uillinois.edu
Chicago - uiccashrequests@uillinois.edu
Springfield - uispayments@uillinois.edu
  1. Once approved, University Payables notifies University Student Financial Services and Cashier Operations (USFSCO) usually within one business day. If not approved, University Payables will notify you as the custodian.
  2. After University Payables approval, USFSCO verifies that you are a petty cash custodian, that all required quarterly reconciliations are current, and that the fund is renewed for the current year. If current, USFSCO will contact you when the cash is ready to be picked up.
If reconciliations are not up-to-date, or you are not the custodian on file, USFSCO will contact you and notify University Payables to cancel the transaction.
  1. To pick up the cash, present your University i-card, along with the original, signed Employee Travel/Expense Reimbursement form, to your campus USFSCO Cashier Office.

 

Forms Used in this Procedure

Employee Travel/Expense Reimbursement
Missing Receipt Affidavit

Additional Resources

USFSCO Petty Cash & Change Funds
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