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Petty Cash Funds Policy

  • Related Documents:  Petty Cash Funds Procedure
  • Owner:  Financial Services
  • Approver:  Chief Financial Officer
  • Approval Dates:  April 1999, December 2006, November 2011
  • Next Review Date: 3 years from last approved date (2014)



This policy explains what may be reimbursed through a petty cash fund and how.

Applies to:

Faculty and staff

What You Need To Know:

Ryerson University faculty and staff can be reimbursed for purchases up to $100 through one of two types of petty cash funds:

1.       A centralized fund in the Faculty and Staff Cash Office, where purchases of $100 or less per department per day may be reimbursed.

2.       Departmental/faculty petty cash funds under the responsibility of the dean or director.  The department/cost centre head is responsible for the operation of the fund.

Single Expenses Over $100 or Multiple Expenses Totaling $100 or More:

Neither type of petty cash funds may be used to reimburse purchases over $100 (total).  This includes submitting multiple expense claims for a single purpose which total $100 or more. Instead, these purchases must be made in accordance with Ryerson’s Purchasing policy or Purchasing Card policy.

Tip: Making purchases frequently, including those over $100? Consider applying for a Ryerson Purchasing Card. Find out more at

Approval and Signing Authority: 

A Petty Cash Reimbursement Form must be approved by at one administrative level above the claimant.

IMPORTANT:  Both the claimant and the approver are responsible for ensuring that the expenses are incurred for legitimate University business purposes; reasonable; in accordance with this policy, or with applicable granting agency guidelines; and, supported by original receipts. 

External Funding Agencies: 

When using funding from external agencies and where their written regulations are different from University regulations, the funding agency regulations will take precedence.

Related Policies and Procedures: 

Goods and services must be acquired while complying with Purchasing and related policies.  Related policies and procedures can be viewed on the Financial Services website.


All expenditures are subject to audit review.


This policy is under the jurisdiction of the Vice President, Administration and Finance and administered by the Chief Financial Officer.

Policy Review

This policy is subject to review every three (3) years.