Custodians

Each approved petty cash fund has a custodian who is responsible for reconciling the fund on a regular basis (at least monthly), providing adequate controls, management of expense reimbursements and Fund replenishments, recordkeeping and general fund administration.  The custodian must be a full-time salaried officer or staff employee.  All reimbursements to a fund's custodian must be signed off by a senior DAF within the department or school.

Petty Cash Fund Custodians are responsible for:

    • Adherence to University policy for all reimbursements and payments made from the fund, as well as safekeeping;
    • Performing regular (at least monthly) reconciliations of the fund and maintaining adequate control over the funds (see below);
    • Maintaining required records regarding disbursements that have been made from the fund;
    • Replenishing the fund within the approved level for the fund;
    • Closing the fund immediately if the purpose for which it was established ends or changes significantly; and
    • Providing updated custodian information to the Office of the Controller (send address changes to pettycash@columbia.edu).

New petty cash custodians must take the required online Petty Cash Custodian training before a fund will be set up.  Send an email to pettycash@columbia.edu for information about this training.