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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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Department heads are responsible for the proper safeguarding of petty cash monies entrusted to their departments. Cash and receipts for unreimbursed expenditures must be kept in a locked container such as a fire-proof file cabinet, safe, or other suitable device to which unauthorized access is difficult.

The petty cash custodian is personally responsible for the cash which was specifically issued to them. Therefore, access to the fund is limited to the custodian.

Adopted: 11/13/2001
Revised: 01/19/2005 Changed department deans/directors/chairs to department heads for clarification.

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