Authorized individuals may make direct payments by cash for certain purchases. The University of Georgia Foundation Petty Cash funds are subject to the same guidelines as the University of Georgia. The University of Georgia spending guidelines are therefore considered an integral part of the Foundation's Petty Cash Policies and Procedures, except as modified herein.
As authorized by the Foundation Board of Trustees and delegated to the Office of Financial Services Expenditure Control Department, certain authorized individuals may make direct purchases from suppliers for immediate needs of not more than $500.00 per purchase. The $500.00 limit may be exceeded if the excess amount above $500.00 is due entirely to transit insurance, C.O.D. charges, freight charges, custom charges, or container deposit(s). It is the Foundation's policy that such direct purchases may only be made when payment in full is made at the time and initial point of delivery.
NOTE: The University of Georgia petty cash funds are separate from the Foundation's petty cash funds. UGA policy does not allow for state petty cash funds to be reimbursed by the Foundation. Therefore, the Foundation will not honor requests to reimburse custodians of state petty cash accounts. Requests to reimburse state accounts that have been charged for approved state petty cash expenditures will be considered under the Foundation's general expenditure policy. Contact the UGA's Bursars Office for information on state petty cash funds.