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)

step 1

Reconcile the petty cash fund.

step 2

Determine appropriate reduced fund amount.

step 3

Prepare "un-needed" cash for deposit (This is the difference between the original petty cash fund amount and desired reduced amount):

  1. Contact Financial Support Center (3-2772) to obtain the PTAE to use to deposit the funds.
  2. Complete a Wells Fargo Deposit Ticket (available at Cashier's Office) AND complete Department Transmittal Form (Deposit Form).
    • Use the account Project, Task/Award and Expense numbers provided by Cash Management.
    • Under Explanation of Deposit, indicate "decrease petty cash fund # 82XXX."
step 4

Deposit the un-needed cash at Wells Fargo Bank, 2nd floor, Tresidder Memorial Union:

  1. Obtain a receipt for the deposit from Wells Fargo Bank.
  2. 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.
  3. Retain the deposit receipt from the Wells Fargo Bank with petty cash records.
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What Happens Next?

  • Cash Management will confirm via email to the requesting department that the fund size has been decreased.
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Questions?

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