FMPM 230 - Petty Cash Advances

Intent

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

Function	Responsibility Of
Establishment of a central petty cash reimbursement float	Chief Financial Officer
Approval of a petty cash float limit	Chief Financial Officer
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	Chief Financial Officer

A petty cash float to any one Custodian, or for any one purpose, must not exceed the limit as approved by Chief Financial Officer (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 Chief Financial Officer.
Private borrowing from petty cash is not permitted.
The Chief Financial Officer 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.

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Version	Approval date	Implementation date	Details	Author
21-1	04/02/2021	22/02/2021	Position title updated - Director, Financial and Business Services changed to Chief Financial Officer	Quality, Standards and Policy Officer
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