|The School Board of Miami-Dade County|
|Bylaws & Policies|
|Unless a specific policy has been amended and the date the policy was revised is noted at the bottom of that policy, the Bylaws and Policies of the Miami-Dade County Public Schools were adopted on May 11, 2011 and were in effect beginning July 1, 2011.|
6620 - PETTY CASH FUNDS
Petty cash funds may be authorized to make small expenditures for operation of schools and administrative units. Petty cash funds should be limited and restricted to units that have not been issued a procurement credit card, or where the use of cash is the only means available to pay for emergency required goods/services. The amount of the petty cash fund shall be commensurate with the volume and the purpose of transactions, but in no case shall exceed $300.00. Each fund must be authorized by the supervising administrator having oversight over the location requesting the fund and by the Controller as to the amount. The Controller shall develop procedures specifying the fund controls for any petty cash fund.
Each custodian of a petty cash fund shall ensure that the funds are disbursed only for minor expenditures not readily deferred. No petty cash fund may be used to circumvent the purchasing procedures required by law and the policies of the Board. A request for disbursement from a petty cash fund must be made in writing, be signed by the person making the request, and include such supporting documentation as may be appropriate. Disbursements from a petty cash fund will be made in cash. The petty cash box must be secured daily.
The custodian of each petty cash fund shall prepare a schedule of disbursements when the funds available have declined to less than twenty-five percent (25%) of the full amount authorized and shall show the disbursements by line account numbers. The custodian shall submit the schedule to the Controller with a voucher requesting replenishment in like amount.
All petty cash funds will be closed out for an audit at the end of the school year and unused funds will be returned to the depository. The Controller will be responsible for conducting the audit of each petty cash fund and shall report the results of the audit to the Board.