Cash Float Procedures

Requesting Cash Float

First, complete the Cash Float Agreement form and email it to treasury@spu.edu. Treasury will then create a cash float account and inform you by email of your new account number.

Next, complete the Cash Float Request Form by updating the following fields:

1. Department Contact Name

2. Amount requested

3. Date of request

Create a Finance Jira ticket and attach the Cash Float Agreement and Cash Float Request forms. Accounts Payable will then print a check made payable to the department contact to cash. The department contact can cash this check at any bank in desired denominations of bills and coins for making change. The department contact brings the cash float back to their department.

Why do we give change but not give original $? Seems weird to write a check to a person - I don’t like this

Requesting Change

When you need smaller denominations of bills and coins for making change, then please bring your larger cash denominations to Finance, along with a Transmittal of Funds that details the smaller denominations your department needs. Treasury will contact you when your request for change has been processed and available for pick up in Finance.

Cash Float Reimbursements

Cash Float should never be used for purchasing. The amount of cash float should remain the same throughout the year. If any adjustments need to be made, complete the Cash Float Reimbursement form and submit in a Finance Jira ticket. The amount will be taken out of your department’s account and a check will issued for the department contact to cash to increase the cash on hand to where it should be.

Fiscal Year End

At fiscal year end, Treasury will reach out to your department to set a time when we can come and count your cash float on hand. This is to ensure that our records are accurate. This also makes certain no additional cash has been added or removed from your cash float.

Lessening or Closing Cash Float Accounts

When you no longer want a cash float or want to lessen the amount of cash on hand:

1. Email treasury@spu.edu

   1. Subject line should be “Closing Cash Float Account” or “Lessen Cash Float Account”

   2. In the body, write the amount of cash float you want lessened and the date you expect to drop it off

2. Fill out a transmittal of funds

   1. For the “Payments from/for” line, put “Cash Float” and your department name.

   2. For the accounting, put 111002-[Department’s Cash Float Account].

3. Walk the cash to Finance (when carrying cash, never walk alone to help ensure your safety) with the transmittal of funds

Treasury will then close out the account.