The Board of Education recognizes the convenience afforded the day-by-day operation of the schools by the establishment of one (1) or more petty cash funds. The Board shall require the imposition of such controls as will prevent abuse of such funds.

Each custodian of a petty cash fund shall insure that the funds in his/her care shall be disbursed only for minor expenditures. No petty cash fund may be used to circumvent the purchasing procedures required by law and the policies of this Board.

The custodian of each petty cash fund shall prepare a schedule of disbursements with records when the funds available in petty cash have declined to less than twenty-five (25) percent of the full amount authorized and shall show the disbursements by line account numbers. The custodian shall submit the schedule and receipts to the Business Manager for reimbursements of petty cash fund.

All petty cash funds will be closed out for audit at the end of the school year and unused funds will be returned to the business office.

Revised 9/18/00