Latest information on operational modifications for fall 2021 Roadrunner Roadmap

Petty Cash Funds

What Is a Petty Cash Fund?

Petty cash is a small amount of cash-on-hand necessary for your departmental operations. Before a petty cash fund may be established, both the Departmental Cash Handling Request Form and the Departmental Cash Handling Security Policy form must be on file with the office of Financial Services and University Bursar authorizing your department to handle cash on behalf of UTSA.

You may set up a permanent petty cash fund if your department has a daily or recurring need for the fund, e.g., ticket sales for ongoing special events. A temporary fund may be set up for one-time events, such as annual conferences, music events, etc.

Note: Petty cash fund should only be used when other options like One Card are not available.

Send an email to Financial Services providing a brief explanation for the need of the funds. Send the request at least three days prior to the event. Financial Services will review and approve the request, if applicable.

Temporary petty cash fund requests should also include:

  • Event name and date
  • Denomination amount and number of each denomination needed, (e.g., I need 20 $1 bills).
  • Dates the event manager will pick up and return the fund

Note: Fund should be deposited back into the cost center within three days after the event.

Your department must submit a Petty Cash Custodian Receipt form to Financial Services once approved for a petty cash fund. Financial Services will notify Fiscal Services of the approval. Fiscal Services will then prepare the petty cash fund for pick up by your department.

 

Your department can pick up the petty cash fund at the relevant Fiscal Services using a Petty Cash Reimbursement form. Include account code 10010 and your speed type/cost center on the form.

To make changes to your department petty cash fund, your office must notify the Financial Services and University Bursar by email, and submit a Petty Cash Custodian Change Receipt request.

Changes to a permanent petty cash fund may be necessary:

  • If your department is assigning a new custodian for the petty cash fund
  • If your department needs for the petty cash fund has changed, and you want to increase or decrease the petty cash fund

To return all or a portion of the petty cash fund, your department must complete a Deposit Transmittal form. Return the petty cash funds, along with the deposit transmittal form, to Fiscal Services. The petty cash funds should be deposited back into account code 10010 and the speed type/cost center originally used to set up the fund.

Your department manager should limit access to the petty cash fund to the custodian, or implement procedures that establish accountability of the funds at all times.

The petty cash fund should be locked in a cabinet or safe.

The petty cash (cash-on-hand), plus any receipts from purchases made using the petty cash fund, must always equal the authorized amount of the petty cash fund.

Department managers should also reconcile or assign someone other than the custodian to reconcile the petty cash fund.

Departments must immediately report losses involving suspected theft/burglary to the UTSA Police Department and to Financial Services and University Bursar.