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MTU Operating Procedures Manual

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Chapter 2. Accounting Services
Section 2.7. Accounts Payable

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2.7.10. Petty Cash Funds


Definition

Petty Cash Fund: A petty cash fund may be established in a department to improve the efficiency of departmental operations. These cash funds are available to purchase minor items when it would be otherwise impractical to purchase items through the usual purchasing methods.

Petty Cash Custodian: The employee in a department who has been authorized to make payments from a petty cash fund and who is directly responsible for the administration of the fund.

History
Adopted: 11/13/2001

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