A limited dollar fund used to purchase goods when use of the University’s procurement system is impractical or cannot be used. Petty cash may be in the form of petty cash, traveler’s checks, money orders, or debit cards. The combination of cash and petty cash receipts must equal the authorized amount of the fund at all times.
A draft account at a financial institution that is administered by another University department outside of Procurement and Supplier Diversity Services’ Accounts Payable Division and is used for specific disbursement needs where payment through the University’s general checking account is impractical or cannot be used.
A specific amount of cash kept by departments and used to make change for payments received in exchange for services rendered or goods sold by the department.