Financial Services Manual (FIN)

FIN 403 Table 1

The department selects a petty cash fund custodian. The custodian must be an ASU employee.

If the application is on a state/local agency/org, the petty cash fund custodian:

1. completes an Application for Petty Cash Fund—State & Local Area Orgs form

   and

2. lists the funding source agency/org and obtains the signature of the org manager or any authorized agency/org signer for that agency/org.

   If the fund custodian and authorized agency/org signer are the same individual, the application must be approved by

   1. the agency/org manager
   2. an individual in a higher-level position within the organizational chain

      or

   3. the business manager reporting to such position.

Note: The latter two individuals do not need to be authorized signers on the designated agency/org account.

If the petty cash fund request is for $500 or more

3. have the chief business or financial personnel for the college or vice presidential division sign the application.

If the application is on a sponsored project agency/org, the petty cash fund custodian for Office for Research and Sponsored Projects Administration (ORSPA) agency/orgs:

1. sees the Research and Sponsored Projects Policies and Procedures Manual—RSP 503–02, “Sponsored Project Cash Advances,” for specific instructions on establishing a sponsored project petty cash fund or expense advance

   and

2. forwards the petty cash or sponsored advance application form, with all required signatures, to Student Business Services, Temporary SBS Building, mail code 0303.

Student Business Services:

1. reviews the application for completeness, appropriateness, and required signature approvals
2. authorizes the new petty cash fund
3. completes a quick payment voucher (PVQ) in Advantage authorizing a check payable to the petty cash fund custodian
4. prints the PVQ
5. makes a copy of the PVQ for the petty cash file

   and

6. forwards the original PVQ to Accounts Payable with a copy of the petty cash application.

Cashiering Services notifies the petty cash fund custodian in five to seven days to pick up the check from Cashiering Services at the requested campus.

The petty cash fund custodian picks up the check from Cashiering Services after presenting a current ASU faculty/staff identification card.

Cashiering Services:

1. verifies the custodian’s current ASU faculty/staff identification card
2. obtains the custodian’s signature

   and

3. disperses the check.

Cashiering Services will cash petty cash checks up to $500.

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