The cash fund should be reconciled on a weekly basis. The reconciliation consists of counting all cash, records, invoices/receipts in the fund to ensure it totals to the established petty cash amount. The cash may not be used at any time to cash checks for faculty members or students and never to make loans. The Petty Cash file will be audited by Veronica Jenkins monthly and all documentation must be sent in with monthly reports. At year-end, the remaining cash must be re-deposited into bank and the final deposit plus receipts should equal original startup Petty Cash file. The secretary and/or principal may not receive reimbursements via Petty Cash. Reimbursement will be made via Approval of Checks Written to Principal or Secretary From which is approved and signed by the Finance Committee member. Petty Cash Procedures If cash is disbursed to individuals, a record should be prepared indicating to whom the cash was issued, the purpose, be signed by the person receiving the cash and be placed in the cash box to replace the cash paid out. the individual makes the purchase, the record prepared above is replaced by cash and/or invoices/receipts. The invoice/receipt should appropriately document the purpose of the purchase. If cash is disbursed for purchases, it should be replaced by an invoice or receipt which appropriately documents the purpose. When cash in the fund is low, a new request must be resubmitted to Director of Business. Section XI: Purchasing General Policy Guidelines Expenditures for $25,000 or greater require Board approval. Cumulative expenditures during the fiscal year $50,000 or greater must go through District bid procedures. Expenditures for $10,000 to $25,000 require quotes from three vendors by telephone or in writing.
The cash fund should be reconciled on a weekly basis. The reconciliation consists of counting all cash, records, invoices/receipts in the fund to ensure it totals to the established petty cash amount. The cash may not be used at any time to cash checks for faculty members or students and never to make loans. The Petty Cash file will be audited by Veronica Jenkins monthly and all documentation must be sent in with monthly reports. At year-end, the remaining cash must be re-deposited into bank and the final deposit plus receipts should equal original startup Petty Cash file. The secretary and/or principal may not receive reimbursements via Petty Cash. Reimbursement will be made via Approval of Checks Written to Principal or Secretary From which is approved and signed by the Finance Committee member. Petty Cash Procedures If cash is disbursed to individuals, a record should be prepared indicating to whom the cash was issued, the purpose, be signed by the person receiving the cash and be placed in the cash box to replace the cash paid out. the individual makes the purchase, the record prepared above is replaced by cash and/or invoices/receipts. The invoice/receipt should appropriately document the purpose of the purchase. If cash is disbursed for purchases, it should be replaced by an invoice or receipt which appropriately documents the purpose. When cash in the fund is low, a new request must be resubmitted to Director of Business. Section XI: Purchasing General Policy Guidelines Expenditures for $25,000 or greater require Board approval. Cumulative expenditures during the fiscal year $50,000 or greater must go through District bid procedures. Expenditures for $10,000 to $25,000 require quotes from three vendors by telephone or in writing.
BISD%2015-16%20Activity%20Fund%20Manual_vj.docx