FMPM 230 - Petty Cash Advances

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Intent

To set out the requirement for the establishment, approval and management of Petty Cash.

Scope

Function

Responsibility Of

Establishment of a central petty cash reimbursement float

Director, Financial and Business Services

Approval of a petty cash float limit

Director, Financial and Business Services

Approval of an individual petty cash float

Manager, Finance and Taxation

Management of a petty cash float

Head of Organisational Unit

Administration of a petty cash float

Custodian of petty cash float

Maintenance of a register of petty cash floats

Director, Financial and Business Services

Definitions

Petty Cash Float

Accountable-Advance/Acquittal

Policy

  • A petty cash float to any one Custodian, or for any one purpose, must not exceed the limit as approved by Director, Financial and Business Services (refer FMPM 231: Authorised Limits - Petty Cash Floats).

  • Each float must have a designated Custodian who must be an employee of the University, unless otherwise approved by the Director, Financial and Business Services.

  • Private borrowing from petty cash is not permitted.

  • The Director, Financial and Business Services must establish an upper limit on the value of individual transactions funded from a petty cash float (refer FMPM 231: Authorised Limits - Petty Cash Floats).

  • A register of petty cash floats must be maintained detailing:

    • the location and amount of each float; and

    • the name and position of the person who is the Custodian of each float.

  • The Custodian is responsible for the safe custody of the funds advanced to them and the related documentation.

For enquiries in relation to this FMPM Policy please contact

AccountsReceivable@jcu.edu.au.

Administration

Approval Details

Policy Sponsor

Deputy Vice Chancellor, Services and Resources

Approval Authority

Finance Committee

Date for next review

11/2016

Revision History

Version

Approval date

Implementation date

Details

Author

15-01

08/09/2015

09/09/2015

Policy Sponsor and Approval Authority updated to reflect the approved Policy and Delegations Framework

Quality Standards and Policy Unit

11-01

16/11/2011

22/11/2011


10-01

16/11/2010

22/11/2010



08/01

21/11/2008

24/11/2008



04-01

02/2004

02/2004



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