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Policy Manual

6625 - Petty Cash Accounts

The Board recognizes the convenience afforded the day-to-day operation of the schools by the establishment of one or more petty cash accounts. Therefore, the Board shall adopt annually a resolution establishing one or more petty cash accounts. This resolution shall

  A. specify the maximum amount to be placed in each individual petty cash account.

 

  B. specify the maximum amount of any single expenditure from that petty cash account.

 

  C. require the Fiscal Officer to designate the District official(s) who will be custodian(s) of each individual account and therefore authorized to draw money from that account.

 

  D. authorize the Fiscal Officer to open accounts at a local financial institution for each petty cash account.

 

The Board shall require the imposition of such controls as will prevent abuse of such accounts. Accordingly, the Fiscal Officer shall develop procedures specifying the account controls for any petty cash account.

Each custodian of a petty cash account shall ensure that the funds shall be disbursed only for minor expenditures not readily deferred. No petty cash account 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 account 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 account may be made by check or by debit card initiated by the designated custodian of the petty cash account to be drawn on a checking account for that petty cash account.

The custodian of each petty cash account shall prepare a schedule of disbursements when available funds have declined to less than 25% of the full amount authorized and shall show the disbursements by line account numbers. The custodian shall submit the schedule to the Fiscal Officer with a voucher requesting replenishment in like amount.

All petty cash accounts will be closed out for an audit at the end of each school year and unused funds will be returned to the depository. The Fiscal Officer will be responsible for conducting said audit of each petty cash account and shall report the results of the audit to the Board.

F.S. 1001.43
F.A.C. 6A-1.057, 6A-1.099

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