Reimbursement of Petty Cash Funds

Disbursement funds should be reimbursed at least every 120 days. However it is recommended that monthly reimbursement be completed for ongoing projects with checking accounts. The checking account reconcilement must be done monthly.

If change funds are no longer needed, or if the department wishes to decrease the amount of cash held, the unused funds must be returned the Customer Service Windows of the Office of the University Bursar to reimburse the accounts receivable account in the fund custodian's name. Do NOT deposit the unused funds using a university deposit ticket. Please pay the funds to the accounts receivable account fund under the fund custodian's name.
Any unused disbursement funds must be paid back to accounts receivable in the fund custodian's name. Funds can be returned to the Customer Service Windows of the Office of the University Bursar to reimburse the accounts receivable account in the fund custodian's name. Do NOT deposit the unused funds using a university deposit ticket.
To reimburse petty cash disbursement funds, departments should complete an internal funding transfer (an ISR) through HokieMart using 905787668 "VT Bursar AR payments" as the vendor. The HokieMart entry must be addressed to the "fund custodian name or Treasurer of Virginia Tech". Documentation supporting the disbursements must be attached to the HokieMart entry. Personal indentifying information (PII) or other sensitive information should not be included (see Standard for Storing and Transmitting Personally Identifying Information).
Please refer to the Controller's Office Procedure 23715c for complete instructions.
The HokieMart entry records the project expense and initiates the transfer of funds to pay off the Accounts Receivable balance in the custodian's name. Custodians will receive an electronic statement of outstanding accounts receivable balances due and payment recorded.

If at any time a cash shortage or discrepancy is noted by the department, contact should be made with the Director of Internal Audit.