Departments are responsible for adequate security and control of their cash float funds. The fund This cash should be secured at all times in a locked place. Because Please be advised that no insurance is available to cover cash float losses from the fund, therefore theft and any other losses of cash float losses are the responsibility of the department/college.
Cash float floats should only be used in the event of exchanging to provide change to someone paying with cash. Cash float should never be used to pay for goods or services.
When recording revenue , it is important to keep records of what goes out. At at the end of the day, ensure that sale records match what cash you had have in addition to the cash float. The additional cash with be sent to Finance as revenue using Deliver the cash from sales directly to Finance along with a transmittal of funds to record the revenue.