Any cash shortage or loss or theft of cash must be reported immediately by the custodian of the funds.
Cash shortages in excess of $25 must be reported to both the Office of Auditing and Advisory Services and the director of accounting at the time of discovery. Typically, the director of accounting will ask The University of Texas Police to conduct a police investigation of the incident and provide a report to The University of Texas Health Science Center at Houston (UTHSC-H) management. The shortage should be claimed on the next cash receipt envelope in the case of a cashier's office, or by a Request for Issuance of a Check transaction in the case of a petty cash or change fund. In either case, a copy of the police report will be required as support before a transaction to restore the fund can be processed.
Cash shortages of less than $25 must be reported to the director of accounting at the time of discovery unless the shortage is less than one dollar. Typically, The University of Texas Police will be notified if this has not yet occurred. In the case of accounts receivable, the shortage should be reported on the next cash receipt processed. In the case of a petty cash or change fund shortage, the loss should be debited from the appropriate cash account on a TUFIMS transaction that debits (charges) the appropriate cash account. A copy of the police report will be required as support before Accounting can approve the transaction and replenish the fund.
Updated 8/94