While most purchases are made using the other methods described on these pages, business units may make use of a petty cash fund to pay incidental, low-value expenditures when it is a more cost efficient alternative to other payment and reimbursement methods.
Petty cash cannot be used for personal loans, emergency student loans, bursaries, salaries, wages, honoraria or cashing cheques.
Petty cash is not to be used for frequently purchased items.
Petty cash should only be dispensed upon submission of original vendor receipts or when refunding deposits.
In order to obtain Petty Cash, business units must submit a Petty Cash Requisition Form to Financial Services.
Normally, a unit’s monthly tally of petty cash transactions will not exceed $250. Financial Services will consider exceptions by written request.
For further information on how to obtain and use Petty Cash:
See: Petty Cash Procedure