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Nd Finance I. Policy The University establishes petty cash funds to offices to cover large numbers of nominal disbursements when a direct expenditure voucher (DEV) or purchase order is impractical. Any purchase of goods under $50.00 should be handled with petty cash funds. II. Procedure A. Establishment 1. To establish a fund, a supervisory official submits a written request to the University Controller via Internal Audit and the.

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