Department of Medicine Petty Cash Custodian Annual Training Peggy Weix, Business and Audit Analyst Suzanne Sutton, Controller and Director of Research Administration October 28, 2011

Department of Medicine 2 Introduction Overview Review Policy : Petty Cash Funds Procedures Found under Cash Handling and Deposits at: UC Business and Finance Bulletin, Policy for Cash and Cash Equivalents Received (BUS 49) Internal auditing

Department of Medicine 3 Petty Cash Key Components of Petty Cash Petty Cash Funds The role of a Petty Cash Custodian

Department of Medicine Controller’s Office Role of Controller Problems and ramifications 4

Department of Medicine Nuts and Bolts Procedure Dos and Don’ts Common errors Auditing References & resources 5

Department of Medicine Petty Cash Procedures Set-up Change of custodian Termination Replenishment Forms located under Cash Handling and Deposits at 6

Department of Medicine Replenishment Request Routing 7

Department of Medicine Petty Cash – Dos Access Location and security Appropriate petty cash uses 8

Department of Medicine Petty Cash – Don’ts Inappropriate petty cash uses Transaction limits Bank accounts Gift cards Social Security numbers on receipts 9

Department of Medicine Common Errors Incorrect NCA on replenishment requests Missing approvals on Cash Action Form White-out Copies of receipts Replenishment addressed to wrong department Calculation errors Unsigned receipts 10

Department of Medicine Auditing Cash counting Physical location Access issues Audit verification letters 11

Department of Medicine Where’s the Help? UC Learning Center Training –Online Course –Live Petty Cash Custodian Training Workshop Manual and forms available at Cash Handling and Deposits contacts at –Look for the appropriate contact –Review the Cash & Controls Org Chart Department of Medicine –Peggy Weix, –Suzanne Sutton, 12