Purpose
Petty Cash funds may be used for designated purposes so long as such funds are subject to adequate controls and safeguards.

Authority
The Board authorizes the establishment of petty cash funds in the case of the following persons and in the following amounts:

Responsible Title and Location of Fund Amount

Principal, Cold Spring School $100.00

Principal, Round Meadow School $100.00

Principal, High School $100.00

Principal, Middle School $100.00

Supervisor, Maintenance & Transportation $100.00

Accountant, Administration Building $100.00

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Total $600.00

Delegation of Responsibility
Each responsible person shall ensure that petty cash funds are spent only for designated purposes for which the fund was established and no single purchase for petty cash exceed $10.00 except postage due and collect freight charges.

Each request for funds is to be made in writing with any confirming papers attached and signed by the requestor.

Funds are not to be used to circumvent the regular purchasing procedure.

The petty cash box is to be secured daily.

The person responsible for each petty cash fund shall be bonded in accordance with P.G. 811 and shall prepare a total of the disbursement slips on a periodic basis and shall show the expenditures by account numbers and submit such documentation to the Secretary with a voucher requesting replenishment in a like amount.

All petty cash funds will be audited at the end of the school year.

Petty cash funds may not be used to accommodate the cashing of personal checks.