Close a Petty Cash Fund
Before You Begin
If your unit’s petty cash fund is inactive, University Student Financial Services and Cashier Operations (USFSCO) may close the fund. When your unit no longer needs a petty cash fund, close the fund rather than allowing it to remain inactive.
You must return the full amount of the petty cash fund when closing an account. For example, if your petty cash fund is for $100, you must return $100 to USFSCO.
When closing a petty cash fund, do not send cash to University Payables.
To close a petty cash fund:
- Reconcile and replenish your petty cash fund.
- Give the USFSCO cashier the total amount of the petty cash fund. Tell them that you are the petty cash fund custodian and you are closing the fund.
- Retain the cashier receipt for your records.
Last Updated: October 21, 2011 | Approved: Senior Associate Vice President for Business and Finance - February 2008