300-34 Special Cash Funds

Effective Date: 1/1/92 (revised 2/1/97)

Office of Origin: Budget and Finance--Accounting

I. Purpose

Special cash funds are established for purposes not usually appropriate for petty cash funds. Such purposes include funds held in foreign countries and funds that require special accounting and replenishment procedures unique to a project. This policy explains the rules for administering special cash funds.

II. Definitions

Special cash fund: an asset of the University held in the form of currency or coin that is administered by a special cash fund custodian.

Special cash fund custodian: the person responsible for managing the fund according to University policies and supplementary procedures and restrictions that may be attached to the fund by the Campus Cashiering Coordinator.

III. Policy

Applications for a special cash fund are made to the Campus Cashiering Coordinator and must have the approval of authorized department personnel.

A. General

1. The custodian may maintain only one special cash fund at a time.

2. Disbursements must comply with all restrictions placed on the source fund(s) used to replenish the special cash fund.

3. Funds cannot be borrowed from a special cash fund for an employee's personal use.

4. Custodians will maintain special cash fund records and will replenish funds in a manner specifically approved for the fund by the Campus Cashiering Coordinator.

B. Security/Internal Control

1. Certification by the campus Police Department that the custodian has been fingerprinted is required.

2. Special cash funds must be kept secure from theft and other hazards. Loss or theft of special cash funds must be reported immediately to the campus Police Department, and within 24 hours to the Campus Cashiering Coordinator, Audit and Management Services, and Business, Administrative, and Risk Management Services.

3. Special cash funds are subject to audit at any time, and a complete audit is required when the fund is closed.

4. Any exceptions to special cash fund policy must be approved by the Campus Cashiering Coordinator.

5. The custodian will be notified annually by Accounting to verify special cash funds held.

IV. Responsibility

V. Related Policies

• Conflict of Interest (Policy 150-10)
• Critical Position Background Checks (Policy 150-18)
• Departmental Bank Accounts (Policy 300-17)
• Petty Cash Funds (Policy 300-32) (under revision)
• Academic, Legal and Financial Policies of Contracts and Grants (Policy 400-10)
• Authority to Solicit Contracts and Grants (Policy 400-12)
• Award Acceptance and Execution of Contracts and Grants (Policy 400-16)

VI. References

• Bylaws of the Regents of the University of California, Office of the President:
  Committee on Finance (12.3.j); Treasurer (21.4.a, l, m)
• UC Business and Finance Bulletins, Office of the President:
  Property Self-Insurance Program (BUS- 28); Cashiering Responsibilities and Guidelines (BUS-49); Procedures for Investigating Misuse of University Resources (G-29)
• UCSF Accounting Website
• UCSF Guide to Cash Funds (available from Bear Necessities, Campus Cashiering Coordinator, and Accounting Office)
• University of California Accounting Manual, Office of the President:
  Cash and Banking Operations (C-173)