The purpose of this document is to provide users with detailed procedures regarding the establishment and administration of a departmental petty cash fund.
Petty cash disbursements should be used only for small incidental expenditures and not as a method to bypass Maricopa County Community College District’s (MCCCD) Accounts Payable and Purchasing systems.
Thus, the purpose of a petty cash fund is to provide departments with ready cash for the payment of various small expenditures not available through a purchase order (PO). It is intended for local purchases only.
The petty cash fund cannot be used for:
MCC’s Petty cash limit is $200. The Manager of College Business Services, Dean of Administrative Services or the Vice President of Administrative Services must sign all petty cash requests over $200.
A petty cash must be pre-approved and issued prior to purchasing goods. The date of the receipt must be on or after the date issued on the petty cash.
Original receipts and/or cash must be returned to the Bursar/Cashier Services within (10) days after you received the petty cash. Receipts must clearly indicate the items purchased and the name of the vendor/store. All receipts must coincide with the purpose indicated on the Petty Cash Form.
It is preferred that personal items not to be purchased and/or included on the petty cash receipts. If the receipt includes combined personal and business-related purchases, the business-related items are to be circled, and personal items crossed out. Calculate and include proper sales tax with the purchases.
Petty cash for events, decorations, and food must have an Official Function Form attached (http://www.maricopa.edu/publicstewardship/governance/adminregs/fiscal/1_16.php), which must be approved with all the required signatures.
Only board-approved employees may pick up and return a petty cash. Students/Club Treasurers are not allowed to pick up petty cash. A student Club Treasurer may pick up petty cash for club functions when accompanied by their Advisor.
Only one petty cash voucher per account number can be taken out at any given time.
After the petty cash has been closed out with Cashiers, you may submit your pink copy petty cash form to Fiscal Services for Reimbursement if you spent more than the requested amount. This reimbursement process has to be approved through CFS requisitioning process.
Obtain a Petty Cash Voucher from the Department administrative support staff.
Complete all of the required information and especially provide a detailed description of purchases to be made with the Petty Cash. For example, for office supplies write, “pens, pencils, paper clips”, etc instead of just writing “office supplies”.
Attach the signed and approved Official Function form, if applicable.
Verify that funds are available in your account. For more information visithttp://www.maricopa.edu/its/bfs/CFS_GL08_Web_Financials.pdf
Obtain proper approvals for petty cash: Departmental Supervisor, Organization/Club Advisor, Department Chair, Dean, VP and/or the President.
Present the completed and approved petty cash voucher to Cashier Services to obtain cash.
Purchase items from suppliers.
Return remaining cash and original receipts to Cashier Services within 10 business days after the petty cash was issued to you. Please do not highlight the totals on the receipts. If you want the totals to stand out you may circle them.
Unit – Mesa Community College (MCC)
Dept or Activity – Department or Club Name
Amount Requested $ - $1.00 - $200.00
Requested By and Date – Only board approved employees (Club Advisors) are allowed to sign and pick up cash.
Dept Head/Advisor – Signature of Supervisor or Club Advisor
Unit Head – Signature of Supervisor, Dean, VP or President
Fiscal Agent – Signature of Bursar/Cashier Services Staff
Purpose – Enter a brief, but specific explanation of what the funds are to be used for.
* NOTE: “Purchase of supplies” is not sufficient, instead, “pens, post it notes, scissors....”
Date/ Received by/ Amount – The recipient’s signature, the date the cash is received, and dollar amount is filled in by the recipient. These fields should be signed and dated only when the funds are received. The person receiving the funds is responsible for safekeeping and proper use of the funds.
Account Code – Enter the appropriate CFS Account Code. Expenditures can be split into two or more account codes. The complete CFS account looks like this, for example, 210-250-241440-54100.
Cash Returned on/ Receipts Submitted/ Amount – Leave Blank (for Casher Services staff use only).
The Petty Cash Fund is subject to audit; therefore, the District Office must maintain the receipts. They are maintained in the Accounts Payable department when MCC Cashier Services submits the reconciled Petty Cash Vouchers, plus related receipts for fund replenishments and fulfillments of newly Petty Cash requests. Original receipts are required to prevent multiple submissions.
Fund safeguarding is the custodian’s/cash recipient’s responsibility and lost funds must be repaid by the custodian.
The recipient is responsible for safeguarding all the receipts until the Petty Cash is closed out with Cashier Services. If the receipts are lost, the custodian must get a duplicate copy of receipts or a letter with receipt information (amount, transaction date and business name) from the vendor/store or be repaid with personal money.
An original receipt including the date of purchase and vendor name is needed. If the vendor name is not printed on the receipt, then on the back, write the vendor name and sign or attach the business card of the vendor.
NO. Keep in mind that all purchases must be pre-approved prior to purchase, otherwise, it could be considered an unauthorized purchase and reimbursement can be denied.
The Cashiering staff must audit the receipts submitted to ensure adherence to MCCCD’s policies. If she/he identifies discrepancies, the custodian must resolve them before the voucher can be closed. An example of a discrepancy: Funds are obtained on 1/10/06, but some of the receipts are dated prior 1/10/06. We will not accept those receipts on that Petty Cash.
Only board approved employees may pick up and return petty cash.
54109 Official Functions (Fund 1)
53550 Official Functions
53210 Professional Services
55400 Organizational Dues
56510 In-State Travel
56520 Out-of-State Travel
56550 International Travel
54210 Purchases for Resale (Concessions)
|48090 Miscellaneous Revenues
48091 Membership Dues
47410 Gate Receipts
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