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Petty Cash Procedure

For payment of small bills and incidental expenses.

1. Purchases shall not exceed $50.00 each
1. Limited to one invoice per store per day, (for any one account)
1. Acceptable:
   You may buy $45.00 worth of merchandise at store A and spend $15.00 at store B for account xyz; or you may spend $45.00 at store A for account xyz and another $15.00 at store A for account abc.
2. Unacceptable:
   $70.00 receipt from store A or receipts of $45.00 and $15.00 from store A on the same date for account xyz.
    
2. Examples of allowable expenses
1. office supplies
2. laboratory supplies
3. educational and instructional supplies
4. medical supplies
5. buildings and grounds supplies
6. machinery and equipment parts and accessories
7. labor for tire repair, etc.
8. freight charges – UPS – postage – etc.
9. sales tax: As a tax supported institution, we are exempt from payment of tax, however, new rules allow us to reimburse private individuals for the tax if the receipt is written to an individual. Receipts written to DSU may not be taxed!!
    
3. Examples of items exempt from reimbursement
1. Personal items such as name tags, name plates, phone calls, refreshments, plants, flowers and gifts
2. Generally, food and drink items, although these may be paid from certain accounts
3. Computer software or hardware
    
4. Reimbursement is for paid items only – no charge items allowed
   Pay either with:
1. employee’s own funds
2. funds advanced by cashier’s office
1. These transactions are to be completed with cashier by the close of the next working day.
    
5. Obtain itemized receipt
1. The receipt must list all items purchased, unit price and amount paid. It must show name and address of business, or individual, making the sale. Addition for the total purchase must be correct.
2. Normally cash register tapes are not acceptable; however, itemized tapes such as those which are used by Jubilee, Jack & Jill, and Pamida are usually sufficient.
   1. Most places of business in Madison will provide an itemized receipt if one is requested to be presented to DSU.
3. If receipts are lost or destroyed, a signed photocopy of the receipt is acceptable.
1. Lost or destroyed receipts are the responsibility of the employee.
    
6. Reimbursement process
1. Take the itemized receipt to the office of the college dean, club advisor or whoever has signature authority for the account to be charged.
1. Responsible person shall:
1. Determine if this is an approved purchase.
2. Complete the petty cash authorization form in triplicate, using a separate form for cash account to be charged. Retain pink copy for the office file. (Forms are available at the cashier’s office).
1. The line on the form saying "used for" is to help in the coding and, if needed, justification of unusual purchases. For example: lollipops for children’s carnivals, cigarettes for science projects, or silverware trays for cashier’s use at registration.
3. Present itemized receipt and white and yellow copies of Petty Cash Authorization to Business office cashier.
1. If a cash advance was received, proper forms and excess cash (if any) must be returned to the cashier by the end of the next working day following receipt of the cash advance.
    
7. Deducting funds from accounts
1. The Business Office cashier will prepare a voucher charging the proper account and reimbursing the petty cash fund.
2. Duplicate copy of authorization form will be returned to the office in charge of each account.
1. Voucher number and date of payment will be noted.