Cash Count Audit Form

 

Per Campus Administrative Policy 300-44, department managers are required to perform a cash count audit of their petty cash funds. Download this form to assist with the cash count audit process and to document audit results. Recordkeeping for the audit process is maintained at the department level; do not send the completed form to the Cash and Controls Team unless requested.

Frequency of Cash Count Audits

Non-research petty cash, cash equivalents, and change funds counts are mandatory for each fund based on amounts as follows:

  1. Less than $200: Annually
  2. $201 - $2,000: Semi-Annually
  3. Greater than $2,001: Quarterly

Research petty cash funds counts are mandatory for each fund based on amounts as follows:

  1. Less than $500: Annually
  2. $501 - $2,000: Semi-Annually
  3. Greater than $2,001: Quarterly

Cash Count Audit Guidelines

  • Department managers shall perform the cash count. A department manager may reassign the audit responsibility to another qualified individual who has completed the required petty cash and cash handling training courses and a background check.
  • The department manager (or designee) shall ensure that the cash fund custodian is not aware of the cash count beforehand.
  • Both individuals should be present throughout the cash count. The physical cash count shall be performed by the department manager (or designee) who also shall record the cash counted on the “Cash Fund Audit Form”. The cash fund custodian shall act only as a witness to the process.

The Controller’s Office may perform random audits to ensure compliance. If your department has been selected, we will notify the department manager beforehand. For additional guidance, see Campus Administrative Policy 300-44: Petty Cash and Change Funds.