Petty cash funds issued through the Bursar’s Office are being phased out and new funds are only being provided on an exception basis. A written justification must be submitted outlining the reasons why only a petty cash fund will meet the expenditure needs for your department. The exception can only be granted by the Assistant Vice-President and Bursar. All exception requests will be highly scrutinized.

Detailed exception requests should be submitted to the Assistant Bursar for Banking Services, Hope Wardell, at [click-for-email].

Petty Cash Fund Alternatives

The Temple Purchasing Card should be used for allowable expenditures.  Otherwise, you may use your personal credit card for your expense and submit for reimbursement through Concur.

The Procedures for Travel and Expense Reimbursement provide detailed information regarding travel reimbursement. Any travel and business-related expenses, including receptions and luncheons are not reimbursable via petty cash.

Subject Payment Participants

The payment method to utilize for paying human subject participants as part of research studies is the Greenphire ClinCard. Contact Natalie Huffman at [click-for-email] for more information about the Greenphire ClinCard and to get your study setup so you begin paying your subject participants.

Payment platforms such as PayPal, Venmo, CashApp and Zelle cannot be used to pay subject participants.

Paying subject payments via cash is no longer permitted. If you wish to request an exception for your participant study, a detailed written justification must be submitted explaining why cash is the only available payment method for your study.  As noted above, exception requests will be highly scrutinized.

Exception request approvals from the Directors of Research Accounting and Accounts Payable will be needed along with approval by the Assistant Vice-President and Bursar.

Exceptions granted for paying subject participants via cash of $600 or more in a calendar year must adhere to IRS 1099 MISC reporting requirements. In addition, a participant petty cash fund total cannot exceed the required amount to pay participants for a two-week period.

Approved Petty Cash Funds

For petty cash fund exceptions approved, they operate as imprest funds meaning the fund is always equal to the sum of the cash on hand plus un-reimbursed expenditures. Each fund should be balanced frequently, at least once a week.

Personal expenditures or borrowing from the petty cash fund by the custodian or staff are not permitted. Petty cash funds cannot be co-mingled with other petty cash funds.

The Assistant Bursar for Banking Services should be notified immediately if there is a change in custodianship of a petty cash fund, so that an audit may be performed, and records properly adjusted. Custodial changes that are not communicated to the Bursar's Office do not relieve the custodian of his/her responsibility.

Petty cash funds are subject to audit without notice by the Bursar’s Office and/or the Internal Audit Department. The Bursar’s Office also has the authority to close any petty cash fund, where appropriate.

Safekeeping

1. It is the custodian's responsibility to provide adequate precautions for the safekeeping of the money in their custody.
2. Efforts should be made to provide safekeeping in a locked steel file cabinet or a small safe to which there is limited and controlled access.
3. Funds should not be left unattended and unsecured during office lunch periods, or other periods during the normal workday.
4. Desk drawers are not considered appropriate overnight or other unattended storage, whether locked or not.
5. Any money missing from the petty cash fund will be charged to the responsible department, and the custodian will be subject to disciplinary action.

Petty Cash Reimbursements

1. The fund should be reimbursed so that the money on hand will be adequate for your needs over the next 7-10 days. Expenditures must be recorded on the Petty Cash Voucher Form and must contain a description of the items.
2. Expenditures must be recorded on the Petty Cash Voucher Form and must contain a description of the items.
3. Receipt dates or study participant documentation cannot exceed 6 months. If your receipts are more than 6 months old, the expenditure will not be reimbursed.
4. Expenditures of more than $150 for a single transaction are not authorized from petty cash and will not be reimbursed. Food and beverages including alcohol are not reimbursable via petty cash.
5. The FOAP (Fund, Org, Account and Program) and the total dollar amount must be listed.
6. The voucher must be approved by the budget unit head or individual with signature authority in accordance with the University’s Signature Authorization Policy. The voucher should not be electronically signed.

Closing Petty Cash Fund

To close your petty cash fund, you must return the total amount of the original petty cash fund back to the Bursar’s Office. The returned funds can be in receipts and/or cash. If receipts accompany your closing, you must submit a completed Petty Cash Voucher Form.