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Petty cash funds shall be established at each school, the administration building, and the business office for payment of properly itemized bills of nominal amounts relating to the purchase of materials, supplies or services under conditions requiring immediate payment. All petty cash funds shall be used in accordance with the policy of the Board and the regulations of the Commissioner of Education.

The amount of each fund will not exceed $100.00. The Board shall appoint a custodian for each petty cash fund who shall administer and be responsible for such fund.

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

1. Receipts and cash-on-hand must always total the authorized fund amount. All disbursements from such funds are to be supported by receipted bills or other evidence documenting the expenditure;

2. 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 District from petty cash funds;

3. Deposits to petty cash accounts will be made in amounts which shall not exceed payments made in cash from the fund;

4. Payments made from the funds will be indicated by receipts, receipted bills or other evidence of payments in form available for audit;

5. Disbursements will be acknowledged by the signature of the individual receiving payment;

6. Each disbursement will be properly budget-coded prior to the disbursement of funds; and

7. A request to replenish the petty cash fund will be accompanied by a summary sheet, signed by the custodian responsible for the fund, with all expenditures properly accounted for.

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 all unused funds returned to the District Office. Funds will be reestablished by Board action at the annual organizational meeting in July.

Cross-ref: 6700, Purchasing

Ref: Education Law §§1604(26); 1709(29)

8 NYCRR §170.4

Adoption date: December 1, 1995

Amended date: November 19, 2007

Amended date: March 9, 2020

Amended date: November 7, 2022