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Business and Financial Policies and Procedures

10.5.6 Change the Amount of a Petty Cash Fund

Policy Statement

The amount of a Petty Cash Fund can be increased or decreased; however, there is still a $1000 limit.

Procedure

To change the amount of a Petty Cash Fund:

  1. The custodian completes the Increase Fund Amount or Decrease Fund Amount form. Submitting the form automatically generates an email to the unit head, supervisor or delegate who must reply indicating whether they approve the increase or decrease of the Petty Cash Fund.
  2. If the fund is being decreased, return the excess funds to the University Bursar Cashier Office.
  3. If the fund is being increased, University Bursar reviews the online request and notifies the custodian when the request is approved and the funds can be picked up.

Forms Used in this Procedure

Increase Fund Amount
Decrease Fund Amount

Additional Resources

University Bursar Petty Cash & Change Funds
Petty Cash Fund Training
Campus University Bursar Office locations and hours:
    Urbana-Champaign
    Chicago
    Springfield

Last Updated: June 18, 2020 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 2008

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