The University of Tennessee, Knoxville

Tennessee County Municipal Advisory Service

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Petty Cash Fund (Sample)

Reference Number: MTAS-1733
Tennessee Code Annotated
Reviewed Date: August 12, 2015
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To buy items that cost less than $_______________________ (amount to be established by governing body) from businesses that don't issue invoices or have charge accounts, a petty cash fund must be set up by the finance officer.

The department head is solely responsible for any withdrawals from this account. All receipts or requests for monies from this fund must contain the departmental code and be signed by the department head.

This fund should be used only if other purchasing methods are not applicable.

The finance officer may establish more detailed procedures for the use of the petty cash fund.