To whom must the petty cash fund be returned for deposit prior to the end of the fiscal year?

• A. CFO
• B. Treasurer
• C. Clerk
• D. Finance Director

Answer: (A)

Year-end cash control requires centralizing the petty cash balance with the person who manages the organization’s cash. A petty cash fund is a small float used for minor purchases, and at fiscal-year close it must be replenished and deposited back into the main cash account so the books reflect the true cash on hand. The Chief Financial Officer is the designated authority for cash management and financial reporting, so depositing the petty cash fund with the CFO ensures proper oversight, reconciliation, and alignment with the general ledger before the year closes. This practice helps prevent misstatements and supports accurate financial statements. While other roles may handle day-to-day duties, the assignment of the year-end deposit to the CFO reflects who holds ultimate responsibility for cash custody and year-end reporting in this context.