Any department that wishes to establish a petty cash fund must demonstrate a true business need. To establish a Petty Cash Fund, you must:
To establish a petty cash fund, you must:
STEP 1 - Submission of Request and Documentation to Controller's Office
a) Complete the "To Establish Petty Cash Fund" section of the Petty Cash Administration Form. (Instructions are on form.)
To fill out this form, you will need to know the following:
• Name of the fund custodian, including title and UNI (see above custodian guidelines)
• Reason for the fund
• Dollar amount of the fund
• Description of how and where the funds will be secured including a true business need for the fund.
Note: Make sure to completely fill out "Reason for the fund" section or attach separate memo. For Human Subjects PC funds, make sure to justify the base amount of the fund in the "Reason for the Fund" section of the Petty Cash Administration Form, regardless of funding source, as determined by a) projected subject volume per week/month; b) projected reimbursement amount per subject, & c) projected time lag for fund reimbursement.
Circumstances requiring Petty Cash Funds of greater than $500 may necessitate additional documentation. (Click here for Human Subjects Petty Cash payments).
b) Attach the following:
• Custodian Consent Form, completed and signed
• If a sponsored project, the PIN - Project Information Notification Form and proof of IRB approval
• PAC Employee Verification screen print from the department for the custodian.
c) Then Print, scan and email PC Administration Form along with required attachments to firstname.lastname@example.org (mailto:email@example.com). Note: CUMC departments should print, scan and send documents to Deputy Controller for Internal Controls & Compliance, CUMC (http://www.cumc.columbia.edu/finance/controller.html)(address is on form).
e) The Office of the Controller will review your request and contact you with any questions or their decision. After your request has been approved by the Controller’s Office, the custodian will be notified by email with the PC# assigned to the approved fund and instructions – see instructions below. The email from the Controllers Office will also include an attachment with supporting documentation which should be attached to the establishment voucher in ARC. Vouchers without this documentation will not be approved by the Controller’s Office.
Step 2 - Establish a Petty Cash Vendor Profile in ARC
a) Department needs to submit a Vendor/Payee Request Web Form to Vendor Management to establish the petty cash vendor profile in ARC.
• For a new Petty Cash Custodian profile, departments with no petty cash vendor profile should ADD a NEW petty cash profile (not including the employee profile). On the form, the PAYEE NAME should be the name of the custodian. For the second line, PAYEE NAME 2, enter the words "Petty Cash Custodian" In the DESCRIBE THE NATURE OF THE TRANSACTION box, write "Petty Cash Fund Custodian" and include the PC# if you have it. Contact firstname.lastname@example.org with any questions.
• For an existing Petty Cash Custodian Profile, a new address should be added to your existing profile. Department must EDIT their existing petty cash profile and select Add a New Address (with the new PCXXXX).
*** DEPARTMENT MUST WAIT FOR CONFIRMATION THAT THE CUSTODIAN PROFILE HAS BEEN CREATED UB ARC BY VENDOR MANAGEMENT BEFORE PROCEEDING TO ENTER AP VOUCHER ***
For more detailed instruction, see the Initiating a Vendor Request job aid.
Step 3 - Create a Voucher in ARC for the new Petty Cash Profile
After receiving confirmation from Vendor Management that PC profile has been created, department should create an AP voucher in ARC.
Establishment Voucher Requirements:
- Documentation must be attached to the voucher with all approvals ( Documentation for this step was emailed to the Custodian as an attachment on the approval email.)
- Department should select the correct vendor for the petty cash account. See address line 3 for the PC#.
- Department must use Account 11990 as part of the ChartString.
- Department must use the same project and department on the Administration form.
- Department should assign ADHoc Approver, Kim Savan, to the voucher for FR&O approval.
After voucher is approved by Controllers Office, it will be routed to AP for final approval. A check will be issued after AP approval.
See the Petty Cash Transactions in ARC Job Aid for transaction instructions.
Step 4 - Cashing of Petty Cash Establishment Check
The fund custodian should cash the fund establishment check and then store funds in a locked box, in a locked drawer or cabinet.
Custodian should cash their checks at the following locations and only within 6 months from the issued date of the check. Checks older than 6 months cannot be cashed. These checks will need to be voided and reissued by AP:
► Morningside Campus – Bursar Teller window, Kent Hall View Map or the Chase Branch at 2875 Broadway (111th Street)
► CUMC Campus - Chase Harkness Branch or Chase 165th Street Branch. View Map
CUSTODIAN SHOULD NEVER DEPOSIT OR CASH PETTY CASH CHECKS AGAINST THEIR PERSONAL BANK ACCOUNT. THIS IS AGAINST POLICY AND CAN RESULT IN CLOSING OF THE FUNDS.
You will need your Columbia ID Card AND a state (or U.S.) issued identification card (i.e. Driver's License or Passport) in order to cash a petty cash fund check. You may also be required to provide a finger print at Chase branches.