[Blueboard] Increase in the Maximum Single Disbursement from Petty Cash Fund

cao at admu.edu.ph cao at admu.edu.ph
Thu Nov 11 09:41:29 PHT 2010


Date:		10 November 2010

To:		University Community

From:		Central Accounting Office

Subject:	Increase in the Maximum Single Disbursement from Petty Cash Fund

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This is to inform the University Community that the maximum single  
disbursement from petty cash fund will be increased to P2, 000 from  
P1, 000 effective November 16, 2010.  The increase in threshold is  
expected to improve handling of your daily petty disbursements for:
- Purchases in small quantities of supplies, materials and related  
items, which are not available in the Central Stores Warehouse
- Transportation except purchase of plane tickets
- Minor repairs including cost of spare parts and services
- Postage, courier, phone cards and other petty expenses
- Other expenses for which it is not practical to pay by check

Consequently, we will revise provisions of the 2007 Accounting  
Policies and Procedures Manual, specifically, Section No. 6 ?  
Disbursements Payments; Sub-section No. 4.0 ? Petty Cash.  The new  
provisions will read as follows:

3.2.1 The Vice President for Finance and Treasurer sets a limit to  
determine the maximum single disbursement (currently set at Php2, 000)  
from the petty cash fund.

3.2.5 Splitting of vouchers to accommodate expenses valued at more  
than Php2, 000 is strictly prohibited.

Apart from the above mentioned, strict compliance to the provisions  
governing establishment and handling of petty cash fund as documented  
in the 2007 Accounting Policies and Procedures Manual must be  
observed.   We advise all units to revisit the manual for reference.

For questions and clarifications, please call me at loc. 4145 or Ms.  
Sheila Lanzar at loc. 4150.


Very truly yours,


Aileen Torres
Assistant Director and Officer-in-Charge
Central Accounting Office

Approved by:


Jose F. Santos
Vice President for Finance and Treasurer


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