Chapter 22. Purchasing
Section 22.4. Special Purchases

22.4.11. Petty Cash Fund

Petty Cash: A fund of cash maintained by departments for purchases under $200.00.

The University permits departments to maintain petty cash funds, where such funds will enhance departmental operations, for obtaining expendable materials which are needed to sustain the normal operations of the University. Departments without petty cash funds may go to Accounting Services when petty cash is needed.

The University is exempt from Michigan, Florida, and Wisconsin sales tax, as well as federal excise taxes. Michigan’s tax-free registry number is 38-73-0627K. This number is known by most of the local businesses and should be used to prevent the vendor from charging sales tax. Use of the University sales tax number when purchasing items for other than University purposes is prohibited and may result in disciplinary action.

Refer to Petty Cash section in Accounting Services’ chapter for a list of prohibited items.