Departments who regularly receive cash for sales of goods, fundraisers, events, etc and need to make change for customers should hold a cash float. Cash float is the cash amount maintained daily and represents the starting amount, not accounting for any cash received from sales.
Cash float held by a department remains the property of the University, not the department. However, the department is responsible for the safeguarding of total cash float amount issued to them.
Cash float is not for department spending. If cash float is spent, it will be recorded in the department’s account (see Petty Cash Reimbursements).