University Cashier and Cash Management

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Petty Cash Funds are available to offices throughout the University to provide available funds for small expenses such as:

1. C.O.D. freight charges
2. Postage stamps and miscellaneous low-cost supplies each purchase not to exceed $50.00
3. Reimbursement of travel expenses that have been paid "out of pocket" by traveler. Amount not to exceed $25.00

Petty Cash funds are not to be used for the following:

1. Purchases from Princeton University Store. These items are to be bought by Departmental Credit Cards in accordance with established procedures
2. Payment of equipment items or supplies in excess of $50.00
3. Travel Advances or reimbursements for "out of pocket" expenses paid by traveler in excess of $25.00
4. Cashing checks
5. Loans or personal expenses of any nature
6. Payment for parking tickets
7. Payment for gifts

Important Facts about Petty Cash:

1. The department chair must request the fund by memo addressed to Invoice Processing 701 Carnegie Center, Suite 444 Princeton, NJ 08540, stating the amount needed and designating a custodian.
2. All current Expense Policies apply to Petty Cash. Reimbursements may only be made for authorized University Expenses.
3. All receipt must be originals, and fully itemized. If a personal credit card is used the credit card receipt, and the register receipt must be included.
4. If an original receipt is not available, a signed statement explaining why the receipt is not available must be included.
5. When a request to replenish Petty Cash is submitted the request form must be signed by the Custodian, and countersigned by a designee named by the Director, Manager, or Chair to sign on behalf of the department. We will need to be advised of the person who will fill this role.
6. If receipts are included for someone who must normally be approved by the Dean of the Faculty, or Administrative Vice President, those signatures must be obtained before cash can be replenished. However, the option exists for that person to bypass the need for individual authorizations by accumulating a record of these reimbursements, and submitting an annual report of all activity to the Dean or VP for approval. If an unsigned receipt is submitted the Treasurer’s Office will presume the decision has been made to provide the annual report.
7. Because of the extended audit requirements, five working days will be required in order to replenish a fund. Departments are encouraged to identify a reorder point so there will be sufficient time to audit the account, and replace the funds.
8. Checks will not be used to provide replacement funds. A Visa Credit Card will be issued to the Custodian. This card can only be used for withdrawals from ATM machines. When funds are to be replaced, value will be added to the card, and the custodian will be advised by Email.
9. Since most ATM’s disburse cash in $10.00 or $20.00 increments the value added to the card will be consistent with the way ATM’s disburse Cash. Department’s funds will therefore often have an amount available greater than the initial fund. The Treasurer’s Office will monitor this total, rounding appropriately upward or downward when funds are replenished.
10. To begin the process the custodian must complete the Purchasing Card Application Form along with all appropriate signatures. Please forward this form to: attn: Invoice Processing 701 Carnegie Center, Suite 444 Princeton, NJ 08540.
    
    Click Here to View the Purchasing Credit Card Application Form
11. All changes in personnel, which result in changes to petty cash custodians, must be reported to the Treasurers Office.
12. All petty cash funds are subject to periodic audit. Annual letters of confirmation will be sent to the Petty Cash custodians.