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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 that is located online at the USFSCO Petty Cash & Change Funds website.
    • Submitting the form automatically generates an email to the unit head/supervisor/delegate who must reply indicating whether or not they approve the increase or decrease of the Petty Cash Fund.
  2. If the fund is being decreased, return the excess funds to your campus' Cashier Office (USFSCO).
  3. If the fund is being increased, USFSCO reviews the online request and notifies the custodian when approved and when the funds can be picked up.

Forms Used in this Procedure

Increase Fund Amount
Decrease Fund Amount

Additional Resources

USFSCO Petty Cash & Change Funds
Petty Cash Fund Training
Campus USFSCO Office locations and hours:
    Urbana
    Chicago
    Springfield

Last Updated: January 4, 2016 | Approved: Senior Associate Vice President for Business and Finance | Effective: February 2008

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