| Category: | Procedure: | |
| Fiscal Management | Petty Cash Accounts | |
| Descriptor Code: | Issued Date: | Revised Date: |
| AP-D-180 | June 1997 | August 2001 |
In order to facilitate refunds and minor purchases, the central office and the individual schools in the system may maintain petty cash funds. Petty cash refunds should not exceed $10.00 per purchase per person. These funds shall be used for the payment of permissible and properly itemized bills for materials, supplies, or services under conditions calling for immediate payments. Disbursements from petty cash shall be made upon presentation of original receipt on which is written the name and address of person being reimbursed in addition to the appropriate account number.
Reimbursement of the petty cash account shall be accomplished at the school level by issuing a check to replenish the cash and posting the charges to the applicable expenditure accounts in accordance with the Internal School Uniform Accounting Policy Manual. Reimbursement of a petty cash account, other than those at the school level, shall be accomplished by submission of an expenditure listing with a Request for Payment (Form BO-132) to the Finance Department.
A request for approval to establish a petty cash fund at the school level must be made in writing to the Superintendent (or designee) each school year. After approval, a check may be issued to the principal for an amount not to exceed $100. The principal (or designee) shall be responsible for the petty cash fund. At the end of each school year, the petty cash fund will be closed-out and monies re-deposited to the school bank account. The petty cash fund may be replenished as necessary during the school year.
Expenditures against the petty cash fund shall be itemized and shall be charged to the appropriate budget account. After a budget account is exhausted, no expenditures against the item shall be made from petty cash.
Itemized expenditures from the individual school funds shall be maintained and kept on file at each school. Expenditures made from the central office fund shall be itemized and kept on file in the Superintendent's office.
Questions should be directed to the Finance Department at 594-1676.