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9.04 – Petty Cash Fund

  • The Petty Cash Fund will never exceed $1200 for any given location.
  • A single disbursement from petty cash shall not exceed $500.
  • The Full Charge Bookkeeper has the list of all petty cash funds by location. This list shows the locations approved to hold petty cash and the amount of petty cash for each location.
  • The Petty Cash Fund will be operated on an impress basis. This means that when it is time to replenish the fund, the check request submitted should indicate the total amount needed to bring the fund back up to its original approved amount specific to each location.
  • The check requests should break down the various expense accounts being charged, and the amount charged to each. All receipts and other pertinent documentation must be presented with the request. The designated petty cash holders will be responsible for gathering all the documentation prior to submitting a request for replenishing the funds.
  • The recipient of the petty cash funds must sign the sheet to indicate receipt of the funds. The paid receipt should be attached to the sheet. All paid information should remain in the locked petty cash box until it is time to replenish the fund. At that time, the Petty Cash Fund Reconciliation Sheet and associated receipts are attached to the check request voucher. If the receipt is missing, the authorized support staff will complete a Missing Receipt Memo. A copy will be sent to the employee’s supervisor.
  • The petty cash box is always to be locked when the authorized petty cash holder is not disbursing or replenishing the fund. The locked petty cash box is to be kept in a locked file cabinet within the office.
  • The designated Petty Cash Auditors shall complete the audits as outlined in the Petty Cash Auditing Standard of Practice.
  • It is a policy of Open Door not to cash checks of any kind through the Petty Cash Fund.
  • The Petty Cash Fund will not be used to reimburse employees for Medicaid services provided to individuals.
  • Open Door postage is not to be used for personal mailings under any circumstances.

Last Revised: 8/25/21

Previous 9.03 – Reconciliations
Next 9.05 – Accounting Data Backup and Recovery
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