Finance shall make available, on written request by the Head of Department, an appropriate sum for disbursement of petty cash expenses via a float, which must be accounted for at any time, on request. The float system operates on the following principal: Cash Held + Receipted expenditure = float value. The Head of Department (or nominated float holder) will be responsible for maintaining a record of Petty Cash expenses and for the safe custody of any unused balance. A petty cash box should be used and it must be kept locked in a secure place in compliance with the requirements of the University’s insurers when not in use, and will be subject to periodic checks by the Head of Department or another nominated person. A secure place would not be a readily accessible desk drawer, which would be regarded as too vulnerable to theft. A secure place would be recognised as a lockable safe or a lockable drawer or cabinet.
At the end of the year a declaration of the balance(s) held will be issue by the Cash Office for completion by the member of staff responsible for the float and counter signed by the Head of Department. Once this has been done the form should be sent back to the Cash Office.
Petty Cash Reimbursement
Claims for reimbursement from petty cash should be taken to the Cash Office, together with all original receipts or supporting vouchers, where available. Whilst there is no specific deadline for submission of Petty Cash claims it is essential that this is done on a regular basis and before the total float held has been expended in order to retain a working balance until the float has been refreshed. In order to meet this criteria we would ask that you submit these claims, at the very least, on a monthly basis.
All claims for reimbursement from petty cash are subject to a maximum of £25 per transaction. Note that it is not acceptable to sub-divide claims such that a claimant makes more than one claim, each within the £25 limit.
The following types of expenditure are expressly forbidden: