Departmental Petty Cash Funds . Boston University Medical Campus Revised 9/09. Definition. Petty Cash Funds are relatively small amounts of cash entrusted to the Petty Cash Custodian within a department for reimbursing individuals for small, miscellaneous, current expenses.
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Departmental Petty Cash Funds
Boston University Medical Campus
amounts of cash entrusted to the Petty
Cash Custodian within a department
for reimbursing individuals for small,
miscellaneous, current expenses.
A log must be maintained within the department of all Study Participants along with their names, home addresses, and social security numbers.
In the event a Study Participant should receive > $600. within a calendar the Petty Cash Custodian is responsible for forwarding that information to the Manager of Disbursements BUMC for the purpose of properly 1099 that Participant (this is in compliance with IRS regulations).