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Business and Financial Policies and Procedures

10.5.8 Close a Petty Cash Fund

Policy Statement

If your unit's Petty Cash Fund is inactive and/or your unit no longer needs/uses a Petty Cash Fund, University Bursar may close the fund.

The custodian must return the full amount of the Petty Cash Fund to the University Bursar Cashier Operations when closing the fund


To close a Petty Cash Fund:

  1. Count, reconcile and replenish the Petty Cash Fund. The custodian submits a Close Fund form for petty cash. Submitting the form automatically generates an email to the unit head, supervisor, or delegate who must reply indicating whether they approve the Petty Cash Fund closure.
  2. Give the University Bursar 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.
  3. Retain the closure form and cashier receipt for your unit's records.

Forms Used in this Procedure

Close Fund

Related Policies and Procedures

10.5.4 Verify Petty Cash Funds Monthly
10.5.5 Replenish Petty Cash Funds

Additional Resources

University Bursar Petty Cash & Change Funds
Petty Cash Fund Training
University Bursar office locations and hours:

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

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