Cash Float Policy

Departments are responsible for adequate security and control of their cash float. This cash should be secured at all times in a locked place. Please be advised that no insurance is available to cover cash float losses, therefore theft and any other cash float losses are the responsibility of the department.

Cash floats should only be used to provide change to someone paying with cash. Cash float should never be used to pay for goods or services.

When recording revenue at the end of the day, ensure that sale records match what cash you have in addition to the cash float. Deliver the cash from sales directly to Finance along with a transmittal of funds to record the revenue.