Petty Cash Funds
The use of petty cash funds shall be authorized for specific purchases only. Those purchases will include individual purchases of supplies and materials under the amount of $50, postage, delivery charges, and freight. Individual personal reimbursements which exceed $50 should not be made from petty cash funds. Petty cash accounts will be maintained as cash on hand.
Each RISE Charter School or department administrator with a petty cash fund account may appoint and designate a fund custodian to carry out the bookkeeping and security duties. Monies which are not specifically petty cash monies shall not be co-mingled with the petty cash fund. At the conclusion of each school year, all petty cash funds must be closed out and the petty cash vouchers and cash on hand returned to the business office for processing.
RISE Charter School business office shall be responsible for establishing the procedures involving the use and management of petty cash funds.
Policy History:
Adopted on: 12/13/2021
Revised on:
Reviewed on: