Petty Cash and Imprest Checking Accounts (FA 141)

FA 141 states that a department can be approved to establish a petty cash account to reimburse employees for miscellaneous operational expenditures not greater than $75 per item and not purchased through other procurement methods. Examples of expenditures for which departments may use the petty cash accounts are postage, taxi fares, refreshment for meetings, mileage reimbursement, tolls, parking, and supplies. This policy covers the creation, administration, reconciliation, transfer, and closing of petty cash and imprest checking accounts.

Tags

• Treasury