Petty Cash Procedures

Opening a Petty Cash Fund:

  • Send a memo to the Comptroller’s Office to request that a petty cash fund be opened.
  • State in the memo the reason why your department needs a petty cash fund.
  • Give the amount of the petty cash requested.
  • Indicate the name of your petty cash custodian.
  • Be sure the dean, director or department head and the petty cash custodian sign the memo.

(You will be notified within one week whether your request has been approved or disapproved. At the time of approval, a verification form will be forwarded to you to be completed and returned to The Comptroller’s Office. Upon receipt of the verification form, the petty cash fund will be provided for your use).

To Reimburse a Petty Cash Fund:

  • Send a Petty Cash Expense & Detail Sheet detailing each expenditure to The Comptroller’s Office.
  • Payment should be made to the petty cash custodian, only.
  • Attach original receipts to the petty cash Expense Voucher & Detail Sheet.
  • Be sure the voucher is signed by the petty cash custodian and an authorized signer on the account.

Closing a Petty Cash Fund:

  • Send a Petty Cash expense voucher to The Comptroller’s Office.
  • State your desire to close the petty cash fund.
  • Attach receipts and/or cash equivalent for the total amount of the petty cash fund.
  • Be sure the voucher has been signed by the petty cash custodian and the dean, director, or department head.

Questions regarding petty cash should be directed to The Comptroller’s Office at x3765 or comptrol@syr.edu.