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Utah Code Title 63J. Budgeting § 63J-1-215. Cash funds--Application for account--Preference for purchasing card accounts--Cash advances--Revolving fund established by law excepted--Elimination of cash funds

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Before any new petty cash funds may be established, the commission, department, or agency requesting the fund or funds shall apply in writing to the Division of Finance and provide:

(a) the reasons why the cash fund is needed;

(b) the amount requested; and

(c) the reasons why a purchasing card account is not sufficient to meet the needs of the commission, department, or agency.

(2)(a) The Division of Finance shall review the application and make a determination that:

(i) no cash fund or purchasing card account should be established;

(ii) a purchasing card account should be established; or

(iii) a cash fund should be established using money in the state treasury.

(b) When making a determination under Subsection (2)(a), the Division of Finance shall recommend a purchasing card account in lieu of a cash fund unless there is significant evidence that a purchasing account is not sufficient to meet the needs of the commission, department, or agency.

(3) Revolving funds established by law are not subject to the provisions of this section.

(4) The Division of Finance is authorized to review and close cash funds if the division determines that a purchasing card account will adequately meet the needs of the commission, department, or agency.

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Cite this article: FindLaw.com - Utah Code Title 63J. Budgeting § 63J-1-215. Cash funds--Application for account--Preference for purchasing card accounts--Cash advances--Revolving fund established by law excepted--Elimination of cash funds - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-63j-budgeting/ut-code-sect-63j-1-215/

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