To ensure petty cash is properly accounted for, and that records are accurately stated, semi-annual petty cash verification letters will be distributed via DocuSign to petty cash custodians in early June. Custodians must complete and return their verification letters no later than June 30, 2020. Failure to comply with the required process may result in closure of the petty cash fund.
The reduction in research and on-site work in response to COVID-19 may have temporarily impacted access to departmental petty cash funds. Accurate accounting for petty cash funds is especially important in light of these recent events since the use and balance of petty cash may be significantly different from normal.
If you do not receive your letter by June 10, 2020, or if you have general questions about the verification process, contact the Cash and Controls Team.