ADMINISTRATIVE PROCEDURE MANUAL
SECTION TITLE
PETTY CASH AND CHANGE FUNDS
NUMBER
PAGE
04-0701
1 OF 2
BASED ON BOARD OF TRUSTEES’ RULE AND TITLE
DATE REVISED
6Hx7-4.6 Petty Cash and Change Funds
January 13, 2015
Purpose
To establish procedures for the use of petty cash and change.
Procedure
The College has the authority to establish a Petty Cash Fund not to exceed two thousand five hundred
dollars ($2,500.00) at each campus, to be maintained on the imprest system. The system for accounting
for these funds shall provide for adequate internal controls and shall not be used to circumvent normal
purchasing procedures.
A. The College President delegates the authority to establish petty cash and change fund accounts to the
Vice President, Business Services and the Chief Financial Officer, who shall also have authority to
appoint custodians, authorize audits, and establish internal controls and procedures for the accounting
and safekeeping of such accounts.
B. Petty cash and change fund accounts are established on request of an administrative unit’s appointed
custodian through the Office of the College Bursar.
C. The administrative unit’s appointed custodian is directly responsible for controlling and safeguarding
funds appropriated for their use.
D. Petty Cash Funds:
1. The petty cash fund will be maintained as an imprest account whereby a fixed amount of cash is
allocated to the fund; disbursement receipts are used as the basis for periodic replenishments.
2. Unless otherwise authorized by the Vice President, Business Services or the Chief Financial
Officer, petty cash funds may only be used for small cash transactions and may not be used to
circumvent the College’s purchasing guidelines.
3. All transactions must be supported by proper documentation, be in compliance with the College’s
purchasing guidelines, and be recorded to the budget and general ledger on a timely basis.
4. Petty cash funds shall be reconciled 1) weekly, 2) whenever a petty cash replenishment is
requested, or 3) whenever there is a change in custodian.
5. Cash shortages and overages shall be reported promptly to the custodian’s immediate supervisor
and to the Office of the College Bursar.
ADMINISTRATIVE PROCEDURE MANUAL
SECTION TITLE
PETTY CASH AND CHANGE FUNDS
NUMBER
PAGE
04-0701
2 OF 2
BASED ON BOARD OF TRUSTEES’ RULE AND TITLE
DATE REVISED
6Hx7-4.6 Petty Cash and Change Funds
January 13, 2015
6. In the event of theft, an incident report must also be filed with the College Security Office.
7. All petty cash funds are subject to unannounced audits.
E. Change Funds:
1. Change funds may be used for both cashing employee checks and/or making change for cashiering
operations.
2. Check cashing by College employees is limited to not more than one check per day of not more
than $100 for Full and Permanent Part-Time employees unless otherwise approved by the Office
of the College Bursar or the Chief Financial Officer.
3. The custodian cashing the check must print his or her initials on the face of the check.
4. Second party checks will be accepted only if the first party is the College, Florida State College
Foundation, the State of Florida, or the U.S. Government.
5. A service charge of $25 will be assessed for any check dishonored by the bank, unless the bank
notifies the College in writing that it was due to Bank error.
6. Change funds shall be reconciled daily.
7. Items (5), (6) and (7) in section (D) above are also applicable to change funds.
REFERENCES: F.S. 1001.64, 1001.65, SBE Rule 6A-14.0261, 6A-14.060(6)
Adopted Date: May 3, 1991
Revised Date: January 13, 2015