Policy 6080: Petty Cash

Petty cash funds shall be established at each school building and the district office for the purchase of materials, supplies or services necessary for school business and program functions under conditions requiring immediate payment.

The amount of each fund will not exceed $100.00. The Board of Education hereby appoints the building principal and/or his/her designees as custodian for each school building petty cash fund, who shall administer and be responsible for such fund. At the district office, the Business Manager and/or his/her designee shall be the custodian of the district office petty cash fund. The Board of Education and the Superintendent of Schools shall be notified, if either a building principal or the Business Manager appoints a designee as custodian.

To ensure that these funds are properly managed, the following guidelines shall be followed:

No disbursements shall be made from such funds unless supported by original receipted bills or other original evidence documenting the expenditure.
Payments may be made from petty cash for materials, supplies, or services requiring immediate payment. Sales tax on purchases will not be paid by the school district from petty cash funds.

The district shall reimburse uses of petty cash funds up to the extent of expenditures, with appropriate documentary support and as approved by the claims auditor. Petty cash funds provided for buildings or activities that do not operate during July/August must be closed out on June 30 and reestablished by Board of Education action at the re-organizational meeting of the Board in July.

Ref:

Education Law §§1604(26); 1709(29)
8 NYCRR §170.4

Adopted by the Board of Education: June 6, 2006