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Administrative Procedure: Petty Cash Funds
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EFFECTIVE DATE:
October 27, 2004
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ADMINISTRATIVE PROCEDURE CODE:
4.A.100
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AMENDED DATE:
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Policy Reference
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Legal Reference
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The Board authorizes the establishment of petty cash funds in the various schools subject to the following regulations and limitations. It is intended that petty cash funds be used for the following purposes:
- Miscellaneous postage
- Collect deliveries
- Other small disbursements
The following guidelines will be used in the operation of petty cash accounts.
- Petty cash funds shall not be in excess of $200.
- An acceptable accounting system will accompany every petty cash account.
- All disbursements will be recorded.
- Petty cash funds will be replenished by the Division only upon presentation of a Petty Cash Claim Form (supported by proper receipts) signed by the principal.
- Petty cash funds must be reconciled and accounted for
- Whenever the fund is depleted.
- At the end of each month.
- The principal must account for all shortages.