To reimburse the revolving fund account, the following three forms must be included. All reimbursement requests are archived by scanning them. In order for the requests to be scanned properly, all receipts need to be taped down to a 8 ½” by 11” sheet of paper. Do not include staples or paperclips. Receipts must be flat, not loose, and not overlap.

Departmental Revolving Fund Invoice Voucher – Detailed Instructions

This provides the information that will show up on your budget. Include use tax where appropriate.

Revolving Fund Reconciliation – Detailed Instructions

This determines if all the funds in the account have been identified. Discrepancies must be investigated before the next reimbursement request.

Revolving Fund Voucher – Detailed Instructions

This provides a description for each reimbursement and summarizes the accompanying receipts. Do not tape receipts to the voucher. Be sure to include proper documentation
Some Common Fund Reconciliation Problems
If total amount of the fund is too high:

Outstanding checks are understated. Review the check register to ensure all uncashed checks are listed.
A check being reimbursed was part of a previous reimbursement request.

If total amount of the fund is too low:

Outstanding checks are overstated. Review the bank statements to ensure all checks listed outstanding have not cleared the bank.
A check is missing from the reimbursement request.
An item in transit is incorrect or missing.

Remember that checks that have been outstanding for more than six months should be stale dated.

Revolving Funds

Overview

Funded Balance

Reimbursing Your Fund

Allowable Expenses

Custodian Responsibilities

Forms

Contacts

Reimbursing the Fund

Departmental Revolving Fund Invoice Voucher – Detailed Instructions

Revolving Fund Reconciliation – Detailed Instructions

Revolving Fund Voucher – Detailed Instructions

Some Common Fund Reconciliation Problems