How To: Decrease Petty Cash Fund
Who does this? Department heads to make requests and petty cash custodians to reconcile the fund and to deposit the un-needed funds
When? When a petty cash fund needs to be decreased
How? By contacting Financial Support Center (3-2772)
Decrease Petty Cash Fund (4 steps)
Reconcile the petty cash fund.
Determine appropriate reduced fund amount.
Prepare "un-needed" cash for deposit (This is the difference between the original petty cash fund amount and desired reduced amount):
- Contact Financial Support Center (3-2772) to obtain the PTAE to use to deposit the funds.
- Complete a Wells Fargo Deposit Ticket (available at Cashier's Office) AND complete Department Transmittal Form (Deposit Form).
- Use the account Project, Task and Award numbers provided by Cash Management.
- Under Explanation of Deposit, indicate "decrease petty cash fund # 82XXX."
Deposit the un-needed cash at Wells Fargo Bank, 2nd floor, Tresidder Memorial Union:
- Obtain a receipt for the deposit from Wells Fargo Bank.
- Send a copy of the deposit receipt AND the Department Transmittal Form to Financial Support Center (3-2772) via email, or to Cash Management via ID Mail to MC 8440.
- Retain the deposit receipt from the Wells Fargo Bank with petty cash records.
What Happens Next?
- Cash Management will confirm via email to the requesting department that the fund size has been decreased.
- Financial Support Center (3-2772)