Wednesday, April 24, 2019

What is the difference between a petty cash fund and a slush fund?

petty cash fund is used for the minor, legitimate needs of an organization (e.g. a box of staples, bag of coffee). The contents are included in accounting records, receipts are collected, etc.
slush fund is money that is used for illegal or illegitimate purposes (bribes, for example) and is either kept off accounting records, or hidden or deliberately diverted into a mislabeled account
Marinwood CSD, Are you listening?

Here is how CSU Stanislau County handles Petty Cash. Marinwood CSD should adopt the same policy. Theft and abuse of petty cash is common in poorly managed organizations.  

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