DJB Petty Cash Accounts DJB
The board may establish petty cash accounts by resolution. All petty cash funds will be audited annually at the same time as the general fund budget. The board shall also receive monthly reports of the expenditures from and reimbursements to each petty cash account.
KASB Recommendation - 4/07; 6/18
[RESOLUTION TO ESTABLISH PETTY CASH FUND]
WHEREAS, the Board of Education of Unified School District No. 450, Shawnee County, Kansas, has determined that the creation of a petty cash fund is an efficient method to pay expenses for school district purposes in emergencies.
WHEREAS, Kansas law authorizes the establishment of petty cash funds;
NOW THEREFORE, BE IT RESOLVED, by the Board of Education of Unified School District No. 450, Shawnee County, Kansas that a petty cash fund designated as the _____________ Building Petty Cash Fund is created for the purpose of receiving and expending funds for needed district expenditures in an emergency. The fund shall be in the amount of $______________.*
The fund shall be administered by ______________________. The _________________ shall keep a record of all receipts and expenditures of the fund and shall prepare and file with the Board a statement showing all receipts, expenditures and balance at the end of each ___________________ and at the end of each school year. An itemized receipt shall be maintained for each expenditure. Any person authorized to administer a petty cash fund shall be bonded by the school district.
Upon proper report to the board, the petty cash fund shall be replenished by payment from the appropriate fund of the school district.
The petty cash fund shall not be loaned or advanced against the salary of any employee.
Funds in the petty cash fund shall remain district funds but shall not be considered school money for purposes of K.S.A. 72-8202(d) and the provisions of K.S.A. 12-105(b) shall not apply.
ADOPTED by the Board of Education of Unified School District 450, Shawnee County, Kansas, the _____ day of ____________, 20 ___.
[NOTE: A separate resolution must be adopted for each petty cash fund.]
* Not to Exceed $1500.00