Petty cash funds may be established at each school, transportation office, the district business office and superintendent’s office for the purchase of materials, supplies or services under conditions requiring immediate payment.
The amount of each fund will not exceed $100.00. The Board of Education 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:
- 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.
- 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.
Deposits to such funds may be made from time to time in amounts which shall not exceed payments made in cash from the funds, as indicated by the receipts, receipted bills or other evidence of payment. All funds shall be closed at the end of the school year, but not later than June 30th for each school.
Cross-ref: 6700, Purchasing
Ref:
Education Law §§1604(26); 1709(29)
8 NYCRR §170.4
Policy Adopted: February 2, 1971
Amended: November 12, 1973
Amended: October 24, 1977
Amended: June 22, 1998
Amended: January 25, 1999
Amended: August 27, 2012
Amended: November 23, 2015