Petty Cash Guidelines

Arts and Science Petty Cash Guidelines

NYU University Policy on Petty Cash Funds: See full University policy

Effective 9/1/2009 NYU Employees CANNOT be reimbursed by payments from a petty cash lockbox. All employees must use AP-Workflow. (http://www.nyu.edu/financial.services/cdv/news)

 

Two Types of Petty Cash

  1. Department Lockbox (imprest): secured and administered by an authorized custodian and used to pay for small, incidental expenses on behalf of the University
  2. Office of Student Bursar (25 W 4th St.):  cash for Student Reimbursements or Human Subject Matter Payments

Please note that witihin Arts & Science the maximum reimbursement allowed is $50. This differs from University policies.

 

Custodian Responsibilities

  1. Count monthly to verify amount on hand
  2. Reconcile monthly and keep a copy of the report  with the lockbox  and submit a copy to CDV contact, Jiangbin Liu, Auxiliary Accounting   (X 2-8441) jiangbin.liu@nyu.edu
  3. Close or reduce a fund when no longer needed
  4. Reimburse fund at least quarterly or more often if necessary
  5. Notify CDV and Fiscal when changes occur i.e. custodian, amount, location of lockbox
  6. Notify CDV, Fiscal and Internal Audit when a shortage is detected
  7. Keep secure & restrict access at all times
  8. Get a receipt for every expense incurred
  • Funds are audited by FAS quarterly and may be audited at any time by internal & external auditors.
  • Cash + receipts must always = authorized amount
  • CDV or Fiscal can close fund due to violations or mismanagement

 

Petty Cash Forms:  http://www.nyu.edu/financial.services/cdv/forms

 

Petty Cash Fund Log

Petty Cash Reconciliation Form (monthly)

Petty Cash Site Fund Transfer of Custodial Responsibilities Form

Form for Petty Cash Funds (Imprest) [Form EXP2000P]: to establish or replenish petty cash accounts

Form to Request to Establish a Petty Cash Fund (Imprest) [Form EXP2000Pa)

Student Expense Reimbursement Form [Form EXP2000S]: to reimburse WSQ students for expenses incurred while conducting business on behalf of the University