Disbursements of Petty Cash



Policy Statement

Petty cash funds may only be established with the approval of the Office of the Comptroller and must be assigned to the designated Petty Cash custodian(s) in a department. The custodian is responsible for disbursing and replenishing the fund by receiving and submitting valid receipts for the payments made from the fund that have been approved by the individual authorized to do so for the department. The custodian is personally responsible for reimbursing any discrepancies in petty cash balances to the University.

An employee may be reimbursed from petty cash only for the purchase of goods and services (excluding payments to an individual for services performed as an employee or independent contractor) needed for and on behalf of University business when a procurement card or ID cannot be used. Any such expenditures and reimbursements must be supported by written receipts and be approved by the individual authorized to do so for the department. Purchases must be made in the name of Syracuse University and no sales tax is to be paid as to the extent provided by state law. Petty cash is to be used only for and on behalf of Syracuse University and may not be used for any other purpose including but not limited to personal purchases, loans, or other personal uses. Petty cash funds are to be used only for reimbursement and may not be advanced at any time. A sales tax exemption certificate is to be used when making petty cash purchases. Sales tax exemption certificates may be obtained from the Purchasing Department.

Policy Administration

Links to Procedures and Related Information

Amended: May 2007