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. - Utah Statutes

63J-1-215. Cash funds -- Application for account -- Preference for purchasing cardaccounts -- Cash advances -- Revolving fund established by law excepted -- Elimination ofcash funds.
(1) Before any new petty cash funds may be established, the commission, department, oragency 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 thecommission, department, or agency.
(2) (a) The Division of Finance shall review the application and make a determinationthat:
(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 shallrecommend a purchasing card account in lieu of a cash fund unless there is significant evidencethat a purchasing account is not sufficient to meet the needs of the commission, department, oragency.
(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 divisiondetermines that a purchasing card account will adequately meet the needs of the commission,department, or agency.

Renumbered and Amended by Chapter 183, 2009 General Session
Renumbered and Amended by Chapter 368, 2009 General Session