Code: DJB
Adopted: 3/11/10
Readopted: 2/21/17
Orig. Code(s): DJB

Petty cash funds will be established annually for the central administrative office and for other programs as deemed appropriate by the superintendent. Such funds will be used for the payment of properly itemized bills of nominal amounts, generally under $40, and under conditions calling for immediate payment. Allowances, responsibility, security and accounting of petty cash funds will be in accordance with Board policy and requirements of law.

The Fiscal Services Procedures handbook will define the amount of petty cash to be allowed, the maximum dollar amount for a single purchase and the system to be used for record keeping.

Petty cash will not be used to thwart or circumvent established purchasing procedures. It is a convenient accommodation to facilitate immediate acquisition of low-cost goods and services in an efficient manner.

END OF POLICY

Legal Reference(s):

• ORS 294.311
• OR. DEP’T. OF EDUCATION, PROGRAM BUDGET AND ACCOUNTING MANUAL.

Cross Reference(s):

• DIC - Financial Reports and Statements
  
• DIE - Audits