Petty Cash (Procedure 5.1000)
|Based on board policy number and Florida Statute:||Effective Date:|
The purpose of this procedure is to afford staff a method to make small purchases on a timely basis and be reimbursed by college funds.
- The President is authorized by the Board to establish a petty cash fund to be administered by the Vice President for Administrative and Business Services.
- Petty cash purchases are made with personal funds and reimbursement may be accomplished by presenting a completed Petty Cash Reimbursement Requisition (form 90) to the Petty Cash Custodian in the Office of Finance and Budget.
- Purchases must be $50.00 or less.
- Two or more receipts from the same vendor, with the same date, will be considered one purchase and the $50.00 limit will apply.
- Purchasers required to pay sales tax will be reimbursed for the tax as well as for the cost of the item(s) purchased.
- Petty cash funds for individual cost centers may be established by the Vice-President, Administrative and Business Services, upon submission of sufficient written justification by budget administrators.
- All petty cash funds are subject to audit without notice.
|Recommended by||Executive Staff||Date||2/04|
|Approved:||President, E.Ann McGee||Date||3/20/03|