Deposits must be brought to financial services (FS) on a timely basis, at least once per week or when the amount is greater than $500, whichever occurs first. Deposits should indicate the general ledger account number and break out any HST collected if applicable.
Departments responsible for their own deposits to the bank should do so on a timely basis as indicated above. Deposits of US cheques and/or US cash should be deposited separately from Canadian cash using a US bank deposit slip.
Expenditures less than $50, including taxes can be reimbursed through the petty cash fund in FS. Bring the original receipt to FS along with the Petty Cash Expense Reimbursement Form.
At the request of a department, FS may give a department their own petty cash fund if warranted by the volume of transactions.
The custodian of the petty cash will be issued a cheque “in trust” and is responsible for the petty cash as set out in the petty cash agreement.
Expenditures greater than $50 require the use of a procurement card (PCard), purchase order, or cheque requisition, in accordance with the procurement policy.
Cash floats are sometimes issued to departments who will be collecting money at events or to departments regularly making change. Floats should be counted on a regular basis to ensure the correct amount is available.
To request a cash float complete the cash float agreement.
Departments hosting conferences on campus where registration fees are collected, other than those run through the conference offices, are required to contact financial services before the conference takes place. These registration fees may be collected online and arrangements can be made through FS.
All invoices to external parties must be issued by FS. For further information, contact Carolyn Richards at email@example.com.
Charges from one department to another should be approved by the signing authority on the general ledger account and then sent to FS.
- Deposits — Diana Dobson — firstname.lastname@example.org
- Petty cash — Mary Richards — email@example.com
- Cash floats — Mary Richards — firstname.lastname@example.org
- Conferences — Carolyn Webster — email@example.com
- Invoicing external — Carolyn Richards — firstname.lastname@example.org
- Invoicing internal — Diana Dobson — email@example.com
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