9 NYCRR 1642-2.5

A petty cash fund may be established from which disbursements may be made for such items as postage stamps and incidental office supplies. In establishing such a fund, the amount authorized shall be withdrawn, by check authorized by an accounts payable voucher, from the administration or development fund, whichever is applicable. Account 1117, Petty Cash Fund, shall be charged with the amount of the fund so established. Each expenditure from the fund shall be supported by a prenumbered petty cash voucher to which there shall be attached the receipted invoice and other pertinent documents. A specimen petty cash voucher is shown as Exhibit 2 of Appendix S-8. The petty cash fund shall be reimbursed periodically for disbursements made from it by drawing a check on the administration or development fund, whichever is applicable. The preparation of the accounts payable voucher authorizing the issuance of the reimbursing check, and the distribution of the petty cash expenditures to the applicable cost and expense accounts are described in paragraph (7) of subdivision (c) of section 1642-2.4. The petty cash fund should be reconciled at least once a week. The cash balance of the fund plus the amount of petty cash vouchers on hand and awaiting reimbursement shall at all times equal the total amount of the fund. After the petty cash fund is established, no further entries are made in account 1117, Petty Cash Fund, unless to reflect an increase or a decrease in the amount of the fund.