Petty Cash Procedures

Policies on Using a Petty Cash Fund

Certain departments are authorized to use a Petty Cash fund for making small disbursements. Policies on the use of petty cash funds are as follows:

  • The department should maintain the fund in a locked petty cash box, which should be kept in a locked cabinet, desk or closet.
  • The following items should not be paid from the petty cash fund:
    • Equipment purchase
    • Service payments (e.g., wages, consulting fees)
    • Advances
    • Registration fees & dues
  • A petty cash fund should not be used to cash checks.
  • One person from a department should be designated as the petty cash fund custodian, and cannot draw from the fund without the Department Head's approval.
  • If the employee who established the Petty Cash Fund leaves the college or changes departments, the Petty Cash account must be closed out and a new one opened.

Petty Cash Procedure

Petty Cash Fund

To establish a new petty cash fund, a Request for Petty Cash Advance is submitted to the Controller's Office for approval.

Petty Cash Reimbursement

To reimburse the fund, a Petty Cash Reimbursement Request is prepared for the amount of petty cash spent. The form is then submitted to Accounts Payable with the actual receipts.

Please note Barnard College is tax exempt; therefore, sales tax paid on goods and services (restaurant meals are an exception) in New York State should never be included in amounts to be reimbursed. However, if a member of the Barnard community purchases items outside of New York State and is charged sales tax, the College will reimburse for those taxes paid. Tax exempt forms may be obtained from myBarnard under the myFinance tab or requested from either the Purchasing or Accounts Payable departments via email before purchases are made.