Departments are encouraged to use petty cash funds to reduce time, paperwork, and administrative expenses for minor business expenditures. Petty cash may be used to reimburse authorized expenditures up to $200 per transaction for retail purchases, meeting expenses, business meals, local travel expenses, books, subscriptions, postage, and similar expenses. Please remember that we have a contract with Office Max and should not be getting supplies at Staples.
When attempting to obtain reimbursement for a business meal for two or more people, you MUST bring an itemized receipt from the restaurant. A credit card slip will not be sufficient and your reimbursement will be refused. USNH audit review of our files requires this detail. Reminder: PSU will not reimburse meals for a day trip for one person, unless there is a compelling business purpose and is clearly substantiated with detailed restaurant receipt.
Petty Cash slips MUST have the following “5W” questions answered:
- Who – Names of those present (groups of 10 and under)
- What – Type of Item(s)
- Where – Location of Activity
- When – Dates Inclusive
- Why – Business Purpose
- Valid/Active department FOAPAL
- Authorized signature
Petty Cash slips are processed at the Accounts Payable office.
When Petty Cash may NOT be used:
- transactions over $200
- to make personal loans, advances
- to pay employees or non employees compensation for services rendered
(e.g. honorariums or other stipends)- moving expenses
- to buy hazardous materials or controlled substances
- to pay for expenses that are personal or otherwise not allowable according
to current PSU policy, procedure, or practiceÂ
Mostly Cloudy. Haze. Temperature: 62; Wind: Calm; Conditions as of Fri May 25 at 11:00 PM EDT