University of Missouri System

Cash Receipts Manual

CRM 603 - Termination of a Cash Fund

The Office of the Assistant Vice President for Investment and Banking or Campus Business Services may withdraw authorization for a fund at any time it is deemed to be in the best interest of the University.

Authorized Use Terminates When :

• The original authorization period expires, or
• The need for the fund no longer exists, or
• The fund custodian is transferred or leaves the University unless a change in fund custodianship is approved in writing.

Closing Out a Cash Fund:

Cash funds are closed out by being deposited with the Campus Cashiers Office. The amount of the original fund (or actual amount on hand if less than the original amount) is credited to Petty Cash Sundry.

Overages - Deposited to Miscellaneous Income.

Shortages - Reported in accordance with the provisions of CRM 501 - Loss of Money and Securities.

Note - Campus Business Services, in consultation with the Office of the Treasurer, will decide on the reconciliation and disposition of any shortages.

created: 06-25-04