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Administrative Procedures

Administrative Procedure 513

Petty Cash

Background

Preamble:

 

Minor miscellaneous expenses that are incurred from time to time and for which processing of these expenses by the Division is neither practical nor efficient may be defined under "Petty Cash" for budgeting and accounting.  The establishment of a petty cash fund for schools and service centres

Procedures

Procedures:

 

  1. The Superintendent delegates the authority to the Secretary-Treasurer to establish appropriate petty cash funds at schools and other locations as required.

 

  1. Petty cash funds are not intended to be used to pay regularly recurring bills. Such payments should be made through normal budgeting, purchasing and accounting procedures.

 

  1. Reimbursement of staff expenses shall not normally be made from petty cash. Except for minor amounts (e.g. under $10), staff members shall arrange for reimbursement of expenses by filing an approved expense claim.

 

  1. A monthly Accounts Payable Voucher of petty cash transactions shall be submitted to Division Education Center, Financial Services. The Accounts Payable Voucher shall be supported by properly dated and coded receipts or approved petty cash vouchers, copies of which shall also be retained at the school for all expenditures.

 

  1. Petty cash funds shall be kept secure at all times in an appropriate locked cash box (and/or in a bank account if applicable).

 

  1. The total of all receipts/vouchers and remaining cash/bank balances must always equal the total authorized Petty Cash fund.

 

  1. Temporary increase in petty cash limits may be authorized by the Secretary-Treasurer on an exception basis.

 

  1. Reimbursement to the petty cash will be made after submission to the Division Education Center, Financial Services.

 

 

Reviewed:               December, 2011

Next Review by:      December, 2016

References

Legislative References:

 

School Act Section 60, 61

 

Board Policy:

 

Policy 11 Delegation

 

Cross Reference:

 

AP 510 School Accounting System

AP 511 School Generated Funds

AP 512 Student Union Funds

AP 514 Cash in School Buildings