|West Clermont Local School District|
|Bylaws & Policies|
6620 - PETTY CASH FUNDS
The Board of Education recognizes the convenience afforded the day-to-day operation of the schools by the establishment of one (1) or more petty cash funds. Therefore, the Board shall adopt a resolution establishing one (1) or more petty cash funds. This resolution shall:
|A.||specify the maximum amount to be placed in each individual petty cash fund;|
|B.||specify the maximum amount of any single expenditure from that petty cash fund;|
|C.||require the Treasurer to designate the District official(s) who will be designated custodian(s) of each individual fund and therefore, authorized to expend money from that fund.|
The Board shall require the imposition of such controls as will prevent abuse of such funds. Accordingly, the Treasurer shall develop guidelines specifying the fund controls for any petty cash fund.
Each custodian of a petty cash fund shall ensure that the funds in his/her care shall be 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 Treasurer 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 Treasurer will be responsible for conducting said audit of each petty cash fund and shall report the results of the audit to the Board.
R.C. 3313.291, 3313.51