207 - Petty Cash

Procurement Services 207: Petty Cash


To provide a convenient method of making small purchases with a value of $100 or less


University of Alaska Procurement Manual (not available online) Statewide Accounting Manual, C-04
Finance 301: Petty Cash Funds


Petty Cash: A method of obtaining reimbursement from a petty cash custodian for small supply purchases.


Effort and administrative costs can be saved by using petty cash for small expenditures. Petty cash funds facilitate department payments for low-cost supplies that are needed promptly. Employees who make small cash purchases of $100 or less may be reimbursed from a petty cash fund. When the petty cash fund is reimbursed, the purchases will be summarized and charged to the department account.

Reimbursement may be obtained by submitting a completed petty cash voucher and original receipt to the department petty cash custodian or to the Cashier at the University Center. The voucher must be signed by the head or department or individual with signature authority for the account. Petty cash vouchers can be obtained from the department petty cash custodian or Cashiering.
Click here to access Finance 301: Petty Cash Funds for guidelines on the management and use petty cash funds.

Effective: 10/25/2005