6670 Petty Cash Accounts
PETTY CASH/PETTY CASH ACCOUNTS
Petty cash funds shall be established at each school, the maintenance facility, and the business office for the purchase of materials, supplies or services under conditions requiring immediate payment.
The amount of each fund will not exceed its initially established limitation. The Board of Education, upon the recommendation of the Superintendent of Schools, shall appoint a bursar (business office clerk) for each petty cash fund who shall administer and be responsible for such fund.
To ensure that these funds are properly managed, the following guidelines shall be followed:
- Receipts and cash-on-hand must always total the authorized fund amount. All disbursements from such funds are to be supported by receipted bills, paid out slips or other evidence documenting the expenditure.
- Payments may be made from petty cash for materials, supplies, or services only when payment is required on delivery. Sales tax on purchases will not be paid by the school district from petty cash funds.
The district shall reimburse uses of petty cash funds up to the extent of expenditures, with appropriate documentary support. Each fund will be closed at the end of the school year.
Cross-ref: 6700, Purchasing
Ref: Education Law §§ 1604(26); 1709(29)
8 NYCRR § 170.4
Adoption date: November 22, 1993
Reviewed: October 29, 2019