Cut Bank School District

 

FINANCIAL MANAGEMENT      7329

 

Petty Cash Funds

 

The use of a petty cash fund shall be authorized for specific purchases only.  Those purchases will include individual purchases of supplies and materials under the amount of Fifty Dollars ($50.00), postage, delivery charges, and freight.  Individual personal reimbursements which exceed Fifty Dollars ($50.00) should not be made from the petty cash fund.  The petty cash account will be maintained as cash on hand, and the total dollar amount will be limited to Five Hundred Dollars ($500.00).

 

The district clerk is designated as the fund custodian to carry out the bookkeeping and security duties.  Monies which are not specifically petty cash monies shall not be co-mingled with the petty cash fund.  At the conclusion of each school year, all petty cash funds must be closed out and the petty cash vouchers and cash on hand returned to the business office for processing.

 

The District business office shall be responsible for establishing the procedures involving the use and management of petty cash funds.

 

 

 

Policy History:

Adopted on:

Revised on: