Petty Cash Purchases

Only locations with an authorized petty cash fund may make petty cash purchases. Items which cost $100 or less, and are not available from University sources, may be purchased from local vendors using an authorized petty cash fund.

These funds are primarily in student service areas and outside Columbia. Employees who make eligible small dollar purchases should request reimbursement on a non-PO voucher.

Petty Cash Purchases

Purchases by petty cash may be made only through an authorized petty cash fund, as follows:

• The purchase is $100 or less.
• The purchase is of a good (payments for services are not permitted).
• The item is not readily available from University sources.
• Purchase or payment by other University means, such as purchase order or Purchasing Card, is not an option (if the vendor does not take credit cards, contact Procurement Services).
• The purchase complies with applicable University policies and an appropriate explanation is provided on the request for payment.
• If the purchase is for U.S. Mail (including parcel post, certified mail, registered mail, postage stamps, and post cards), the purchase documentation includes addressee, contents, and the reason Campus Mail Service was not used.

Using Petty Cash

Purchases should follow these practices:

• When authorized, petty cash purchases may be made with personal funds.
• The purchaser should present a Petty Cash Purchase Voucher (UM 25) to the vendor at the time payment is made to insure that sales tax is not charged. The University is tax exempt and will not reimburse for sales tax. The individual making the purchase is responsible for insuring that sales tax is not charged. The University's sales tax exemption must not, under any circumstances, be used for items being purchased for personal use.
• Petty Cash Purchase Vouchers (UM 25) must be dated and signed by the employee who received the goods.

Documentation

A Petty Cash Purchase Voucher must be completed in ink and approved by the department chair or authorized representative for the account charged.

The person who approves the Petty Cash Purchase Voucher must not be the same person who received the goods. If available, original documentation from the vendor of the item purchased and the price must be attached to the Petty Cash Purchase Voucher.

If a sales receipt or similar documentation is not available, describe the item(s) purchased and the price on the Petty Cash Purchase Voucher and obtain the vendor's signature on the form.

Processing Vouchers for Reimbursement

If cash was advanced from the petty cash fund, the approved Petty Cash Purchase Voucher and any remaining cash must be returned to the custodian of the fund. If personal funds were used, the approved Petty Cash Purchase Voucher should be redeemed by the petty cash fund custodian, as follows:

• Reimbursement for personal money spent for a petty cash purchase should be requested within 30 days from the date of purchase.
• Cash advances made by the fund custodian must be returned within 24 hours.
• Petty cash funds should be replenished within 30 days of the purchase.
• The fund custodian should redeem approved Petty Cash Purchase Vouchers through a non-PO voucher.