Open a Petty Cash Fund

Learn how to open a petty cash fund at Columbia University. 

The University will establish a Petty Cash Fund only when all other preferred procurement methods are not feasible and adequate justification is provided by the school/department. 

Details

Required Documentation

  • Approval from Office of the Controller’s for Morningside departments, IRB approval for research and human subjects, and CUIMC Controller Office approval for general unrestricted funds.  
  • For a sponsored project, the PIN - Project Information Notification Form and proof of IRB approval.
  • Custodian Consent Form
  • Memo stating the business reason for your request
  • Designated custodian's PAC employee verification (screenshot)
  • PC Check Mailing Form

Each of the above documents must be attached to the petty cash fund request in ServiceNow.

Required Training

  1. Once the petty cash fund is approved, department must designate a custodian to the fund.  
  2. Review the Requirements list from above and gather all required forms and attachments.
  3. Fill out a request to open a fund with the correct attached documentation using the petty cash fund request in Service Now. Select Establishment for the Request Type.
  4. After filling out basic information and the request type, the request process will ask that you supply unique information about your fund, including but not limited to your reason for establishing the fund, the proposed location, and how you plan to keep the fund secure.
  5. Next, you will be asked to supply required documentation. Failure to provide all documentation will delay the opening of the fund.
  6. Once central review is completed, you will be provided via your ServiceNow application the PC Fund # and the supplier ID assigned.  Use this supplier id to create the voucher and any replenishment activity. 
  7. Create a voucher in CU Marketplace for the new petty cash profile.
  8. Select for Payment Reason: Petty Cash Establishment Payment Request
  9. Attach all the documentation from your ServiceNow application to the CU Marketplace voucher.  Follow the steps in CU Marketplace to track the status of the petty cash check.  
  10. Cash the check that establishes the petty cash fund.

Departments must physically walk their checks to the nearest J.P. Morgan Chase branch to cash the check.  Uncashed petty cash checks will be escheated by the bank after 120 days.  Any escheated check will be used to decrease the petty cash fund.  

See below for the nearest campus branches: 

  • Morningside – 2824-26 Broadway (West 109th & Broadway)
  • Manhattanville – 3200 Broadway (West 125th & Broadway)
  • CUIMC Campus – 3940 Broadway (165th & Broadway)

The custodian should never deposit or cash petty cash checks against their personal bank account. This is against policy and can result in closing of the funds. 

You will need your Columbia ID Card AND a state (or U.S.) issued identification card (i.e. Driver's License or Passport) in order to cash a petty cash fund check. You may also be required to provide a finger print at Chase branches.

Uncashed petty cash checks will be escheated by the bank after 120 days.  Any escheated petty cash check will be used to decrease the petty cash fund, and cannot be voided or cashed at the bank.

Training

For guidance on how to replenish a fund, please refer to the Petty Cash Web-Based Training.

For general guidance on how to submit a petty cash fund establishment request via ServiceNow, please review the Submitting Petty Cash Requests via ServiceNow Training Guide.

 

Job Aids

Refer to the following Job Aids for assistance creating a new petty cash fund

 

Policies

Still Have Questions?

Contact our Service Center.