Cash Fund Request Preparation
| Procedure References: | Procedure 4-001, Petty Cash Funds Procedure 4-002, Imprest Checking Accounts Procedure 4-003, Change Funds |
| Form: | Cash Fund Request (Form USNH-F44) |
| Obtain Blank Forms From: | Appendix A - USNH Forms - USNH-F44 Cash Fund Request -or- USNH Financial Services, Accounting Services Department, 862-1470 |
| Forward Completed Forms To: |
USNH Financial Services, Accounting Services, 5 Chenell Drive, Suite 301, Concord, NH 03301 |
1. Purpose
- To request establishment of a "Cash Fund" (petty cash, change fund, or imprest checking account).
- To request an increase in the amount of a cash fund.
- To report the amount by which an existing cash fund is to be decreased.
- To report the closure of a cash fund.
- To report a change of custodians of a cash fund.
2. Requesting a New Cash Fund: Departments with a need for a petty cash, change fund or imprest checking account are encouraged to request such a fund by completing a "Cash Fund Request", (Form USNH-F44). After all approvals are affixed, the USNH Controller's Office will assign a Petty Cash/Change Fund Control Number and generate a check in the amount of the request payable to the petty cash/change fund Custodian. The Custodian must use the Control Number on all future transactions affecting the fund. The Custodian may obtain cash by bringing the endorsed check to the Cashier/Bursar. In the case of an imprest checking account, the check will be payable to the bank at which the imprest account is located. The signed Cash Fund Request form and the endorsed check will serve as a receipt from the Custodian. The USNH Controller's Office will provide petty cash and change fund Custodians with a lockable security strong box (if a safe does not exist) in which cash will be kept. The cost of the strong box will be charged to the responsible FOAPAL as indicated on the Cash Fund Request form.
3. Increasing a Cash Fund: The amount of a petty cash or change fund may be increased by a supplemental request using Form USNH-F44, provided the increase is necessary to meet current or anticipated needs.
4. Decreasing a Cash Fund: A cash fund should be reduced whenever the total amount of the fund exceeds the actual needs for the department or activity. That portion of the cash fund in excess of the department's needs should be returned to the Cashier/Bursar Office with a Form USNH-F44 indicating the amount by which the fund is being decreased. Call the USNH Controller's Office (General Accounting, 862-1470) before returning the excess to the Cashier/Bursar so that the proper FOAPAL may be put on the Department Deposit Report.
5. Closing a Cash Fund: All petty cash or change funds, regardless of whether established for a specific or an indefinite period of time, should be returned to the Cashier/Bursar Office when the funds are no longer needed. In the case of a petty cash fund, first replenish the fund in the usual manner (see Procedure 4-006, Preparation of Petty Cash Replenishment Request). Prepare a Cash Fund Request, Form USNH-F44, and call the USNH Controller's Office (General Accounting, 862-1470) for the FOAPAL to be used on the Department Deposit Report. Then deposit the cash to the Cashier/Bursar. Never send cash through interdepartmental mail. The Cashier/Bursar will prepare a cash receipt and give the Custodian a copy. The Custodian should staple the Cashier's/Bursar's receipt to the Cash Fund Request form and send it to the USNH Controller's Office. An imprest checking account, along with the checkbook and all unused and cancelled checks, should be returned to the USNH Treasurer's Office. Complete a Form USNH-F44 to document the action taken and retain a signed copy as your receipt.
6. Change of Custodian: Each petty cash fund, change fund or imprest checking account is the responsibility of primarily one employee called the Custodian. The Custodian is responsible for safeguarding the cash (or checkbook) and records and maintaining the fund until custody is formally transferred to another employee or until the fund is formally closed. The Department Head may transfer the funds to a new Custodian by sending a Form USNH-F44 to the USNH Controller's Office. In the case of an imprest checking account, the Controller's Office will forward a copy of Form USNH-F44 to the Treasurer to initiate new bank account signatory cards. A reconciliation of the cash fund, approved and signed by the new Custodian, is necessary before a formal transfer of responsibility to a new Custodian may take place. If a Custodian is to be out on an extended absence, a formal transfer of custody is necessary.
7. Change of Location or Purpose: When a cash fund is originally established, it is approved for the specific purpose and location as stated on the Form USNH-F44. If that purpose or location should change, it is necessary to submit a new Form USNH-F44, with the proper campus approvals affixed, to the USNH Controller's Office on a timely basis.
The official version of this information will only be maintained in an on-line web format. Any and all printed copies of this material are dated as of the print date. Please make certain to review the material on-line prior to placing reliance on a dated printed version.
