The petty cash handover form must completed

Other methods of payment, for example, cabcharge dockets, credit cards, or direct re-imbursement must be

considered and used where possible. Petty cash funds are available where there is no viable alternative, to

Petty cash must not be used for:

 Salaries

 Recurrent expenditure

Procedure

 Be correctly coded with the full GL account code string, which includes Company, Centre, Location, Activity and Natural Account Code.

 Show the total against each GL account code.

Centres that regularly use petty cash are authorised by the General Manager, Finance to hold a petty cash float, provided no other means of payment are possible. The petty cash float is the responsibility of the Centre Manager who must nominate a petty cash custodian to maintain the float and be accountable for the cash. The original amount issued is called the accountable amount. Adjustments to the accountable amount may be requested, and will be made on the basis of recorded usage. To maintain the integrity of the float, only one person should have access to the funds at any one time. Centres must also meet the security requirements described in this section in order to be authorised to hold a petty cash float.

Where a petty cash advance has been authorised by the Centre Manager, cash must be maintained separately from other moneys or receipts and be held in a separate locked container. The cash box must be locked when not in use and kept in a locked safe or steel cabinet under the control of the custodian. Compliance with these requirements will be audited.

Petty Cash recoups in transit + (C)

Accountable amount of float (D)

Where a petty cash custodian will be absent for a period, or has changed responsibilities, the Petty Cash Handover/Takeover Form must be completed. The procedure on handover is –

1.Count all cash on hand and record on form (A)

6.If the handover is a long term or permanent change, forward a copy of the Handover/Takeover form to the Managing Director Finance.

The Declaration of Petty Cash Float requires the following information
1.Cash on Hand (A)
2.Petty Cash reimbursements and unacquitted Adances on hand (B)
3.Petty Cash recoups in transit (C)
4.Accountable amount of float (D)
When the account is balanced, A + B + C - D equals zero. Discrepancies should be reported to FSU and your Centre Manager/Director immediately.

Enquiries
Further assistance regarding this procedure may be obtained from the Finance Bookkeeper.