Revised: 06/20/2024
Agencies are required to submit petty cash account reports quarterly. The Petty Cash Fund Quartlery Report (Form Number 7275)Petty Cash Fund Quartlery Report (Form Number 7275) is used for this reporting.
OBM State Accounting may select agencies on a revolving basis for in-depth analysis of the petty cash account reported on the quarterly report. If an agency is selected, for example, OBM may ask for three bank statements to be included with the quarterly report.
Those agencies with only one petty cash account submit their report to OBM's State Accounting staff by the fifteenth of the month following the end of the quarter. For example, reports as of June 30th must be received in State Accounting no later than July 15th.
Those agencies with more than one petty cash account instruct each location to forward its report to the agency's petty cash account coordinator. The coordinator compiles the individual reports and forwards them to OBM's State Accounting staff following the same schedule as above.
For cash-only petty cash accounts complete columns 1, 5, 6, 7, 8, 9, and Total
For accounts that include funds kept in a bank account complete columns 1, 2, 3, 4., 6, 7, 8. and Total.
Account must be reconciled with the bank statement.
For cash on hand and bank account complete this form using columns 1-9 and Total.
For cash-only accounts designated as change funds (used only to make change for sale of merchandise or services) complete columns 1, 9, and Total.
Authorized Dollar Amount – Enter a single total for each account. This total represents the amount approved by OBM for establishing an account including any subsequent increases of an account. This also includes reductions from deposits made to decrease the authorized amount of an account (do not include deposits made to correct account overages).
Date of Bank Statement – Ending date of the bank statement used to reconcile to the account.
Bank Balance – Ending balance appearing on the bank statement. This amount may not equal column 4 if outstanding transactions exist. This amount is not included in the report total.
Checking Account Balance – The ending balance of the checkbook register, ledger, spreadsheet or computer program at the point it was reconciled with the bank statement. This will include outstanding checks and deposits that do not appear on the bank statement and bank service charges or interest earned from the bank statement now updated on the checkbook records. Interest on hand will create an overage in the account.
Cash On Hand – The amount of cash, coin or other currency equivalent items (i.e. postage stamps purchased for sale but not replenished) on hand at the time the account is reconciled. This could also include Warrant (Check) from replenishment vouchers that have not been cashed.
Receipts On Hand – The total of invoices or receipts that have been paid out of petty cash but not yet vouchered.
Cash and Check Advances - The total issued from petty cash to an individual to provide funds to make a purchase. This is not considered an expense until a receipt or invoice is obtained.
Vouchers In Process – The total of receipts or invoices that are in the voucher process. If a voucher has been paid and the Warrant (Check) is on hand, count it as cash, not a voucher.
Register Change Fund – The total of cash and coin on hand used to make change for sales of materials or services. At the end of a cashier’s day, any errors creating an overage or shortage are adjusted to the amount of the sales revenue, so the change fund remains a constant amount.
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