51 -Petty Cash

PETTY CASH

Policy 51

In order to simplify refunds and minor purchases, the board of trustees may authorize a petty cash fund.

Expenditures from petty cash may be made for small cost items. However, this type of expenditure must always be supported by receipts. Replenishment of a petty cash fund shall be made from the General Fund or a revolving fund account.

When a petty cash fund needs to be replenished, a voucher requesting the necessary funds shall be made out by the Office Manager. The voucher must have the expenditure dated, itemized, and accompanied by appropriate receipts. The voucher will then be forwarded to the Board for approval

Adopted: 11/9/2004