Petty Cash

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Crdrewu: Petty Cash is the method used to pay subjects for participation in a research study. Petty Cash is a system designed to give a set amount of cash to an individual (custodian) who will then disburse the cash to research participants as appropriate.

Petty Cash is charged against a grant or state account, but the money only is reflected against the grant when it is spent (i.e. when expenditures have been noted to the Accounts Payable Department through the Petty Cash Reimbursement/Closing process). This is money given to a custodian for a specific purpose-this is not a ‘slush fund’ for any expenses that may arise.