Petty Cash

Petty cash may be provided to an individual to allow them to make purchases related to project work. Projects staff or volunteers may receive no more than $1,000 in petty cash per month. Only one project or MSC staff member or volunteer should be responsible for holding and spending petty cash.

By the 5th business day of the month following the provision of petty cash, the holder of the cash must work with MSC’s Finance Team to reconcile by sending the required documentation below. Any unspent funds must be returned to the project account.

Required Documentation:

• Cash Reconciliation Sheet (template), including the following:

  • Beginning balance

  • List of disbursements/expenses including appropriate expense account and any program or grant coding

  • Ending balance

• Documentation of expenses (receipts or, if receipts are not available, a signed log of each expense including payee, amount, date and purpose)

• W9 for any payees who received over $600

Payment Process: 

Choose the Other Expense/Payment option on the AP and enter the name of the MSC staff member or volunteer who will be responsible for holding the petty cash as the payee. Enter the amount of pretty cash requested as the invoice amount.