FIN 403 Table
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:
- completes an Application for Petty Cash
Fund—State & Local Area Orgs form
- lists the funding source agency/org and obtains the signature
of the org manager or any authorized agency/org signer for that
If the fund custodian and authorized agency/org signer are the
same individual, the application must be approved by
- the agency/org manager
- an individual in a higher-level position within the
- the business manager reporting to such
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
- 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:
- 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
- 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:
- reviews the application for completeness, appropriateness, and
required signature approvals
- authorizes the new petty cash fund
- completes a quick payment voucher (PVQ) in Advantage
authorizing a check payable to the petty cash fund custodian
- prints the PVQ
- makes a copy of the PVQ for the petty cash file
- 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
- verifies the custodian’s current ASU faculty/staff
- obtains the custodian’s signature
- disperses the check.
Cashiering Services will cash petty cash checks up to $500.
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