PETTY CASH

Petty Cash may be obtained from the Payroll Office in Financial Accounting between the hours of 09:30 and 13:00, Monday to Friday.

To claim petty cash, you must print off and complete the Petty Cash Release Form ensuring that it is signed by the budget holder or an authorised nominee.

Please note the following:

• In signing the petty cash release form you are stating that you are adhering to the Petty Cash Policy (see below), section 5 of the NUIG's Treasury Management Policy.
• The Petty Cash release limit is €250 per department per week.
• All receipts must be retained for inspection. The retention period for petty cash supporting documentation is the current year plus 6 years.
• Petty cash claims need only be accompanied by the signed Petty Cash Release Form. No other documentation is required.
• Travel Expenses which are reimbursed through Petty Cash, need to be analysed separately on the face of the Petty Cash Release Form. There is a seperate section for this.

Forms

Petty Cash Release Form
Treasury Management Policy

Petty Cash Policy

5.1 Subject to the conditions in 5.2 to 5.7 below, each departmental and research centre office may maintain a petty cash float to defray small items of non pay expenditure (individual items not to exceed €100).
5.2 Departmental petty cash balance may not exceed €500 except in the case of central accounts where the maximum holding is €8,000.
5.3 A secure cash box shall be procured for the purpose of storing the petty cash float and it shall be locked away in a secure location.
5.4 The petty cash float shall be operated on the “imprest” system, meaning that a written/computer record of each receipt and disbursement shall be maintained so as to record the running balance. When the running balance drops to below €100, it shall be replenished to the full float value of €500.
5.5 Replenishment shall be made either by the payroll office (in cash), or by way of requesting a cheque, made payable to the Budget Holder (name) – Petty cash from Payments Office.
5.6 In addition to the written/computer record kept in the department/research centre, each item of income or expenditure shall be supported by a voucher or third party receipt. Each supporting voucher/receipt shall be assigned a reference number for the written/computer record to facilitate ease of recognition and retrieval, and shall be stored for audit inspection.
5.7 The balance on hand shall be counted at least once per annum and verified to the written/computer record. Any discrepancies shall be noted with a full explanation of the cause(s).

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