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Home My WebLink AboutB 6.0 Petty Cash Maintenance and Use 2013-01-01 J 1 -'.— �d�p i� �nuAl 'Y' i�__� CITY OF GRAPEVINE ADMINISTRATIVE POLICY SUBJECT: PETTY CASH SECTION: B NUMBER: 6.0 MAINTENANCE AND USE � PREPARED BY: Administrative Services REVISED DATE: 01/01/2013 PAGE: 1 of 4 PURPOSE 6.1 The purpose of the Petty Cash Maintenance and Use policy is to set forth the regulations governing the safekeeping and use of cash entrusted to departments to be used for purchases under$100. The City's objectives are to ensure: 6.1.1 Departments have the convenience of small amounts of cash for emergency purchases. 6.1.2 Cash is used in a responsible manner. 6.1.3 Funds and custodians of the funds are properly safeguarded. POLICY � '� -� 6.2 PETTY CASH MAINTENANCE AND USE OF FUNDS: 6.2.1 A listing of all petty cash funds will be maintained in the accounting office in the Finance and the Utility Billing Divisions. This listing will include the department location, custodian and the amount of the petty cash fund. 6.2.2 Should it become necessary to change the departmental location,custodian or amount of the petty cash fund, the Department Director should submit a written request to Finance explaining the type of changes required to update the petty cash records. 6.2.3 Requests to increase existing petty cash fund amounts must be accompanied by a check request and a written memo to the Controller explaining the reason(s)for increasing the petty cash fund amount. 6.2.4 Should it become necessary to change the petty cash custodian, the Department Director should notify the Controller and request that an audit of the petty cash fund be performed prior to transferring the petty cash fund to the new custodian. The audit will be conducted by either Finance or the Utility Billing Division. i � ,�i��','�`��. '�� e�x a �*. ,eq •� CITY OF GRAPEVINE ADMINISTRATIVE POLICY SUBJECT: PETTY CASH SECTION: B NUMBER: 6.0 MAINTENANCE AND USE PREPARED BY: Administrative Services REVISED DATE: 01/01/2013 PAGE: 2 of 4 6.2.5 Each petty cash fund must have one custodian responsible for the disbursement of petty cash. In the absence of the custodian, the Department Director should designate an employee to be acting custodian. 6.2.6 Each petty cash fund should have a set amount of funds to be accounted for. The Utility Billing Division will not process a request of fund reimbursement for cash if the request exceeds the established amount of the petty cash fund. 6.2.7 The petty cash fund is to be reconciled on a bi-weekly basis by the petty cash custodian. 6.2.8 The petty cash custodian should process a reimbursement request at the end of the month to replenish their petty cash fund if the expenses exceed __ $30. The reimbursement request for petty cash is to be processed with enough lead time to prevent the remaining petty cash funds from being depleted prior to the issuance of the reimbursement. The petty cash custodian is responsible for any undocumented or invalid reimbursements they have processed and paid. 6.2.9 A petty cash slip must be completed to support all disbursements of cash from the petty cash fund. The petty cash slip must be completed in its entirety by the Department Director or authorized representative before the custodian disburses cash from the petty cash fund. 6.2.10 All petty cash slips must be signed by the employee when the petty cash slip is submitted to the petty cash custodian and cash is actually received. 6.2.11 Every effort should be made by the employee not to pay sales tax. Employees can obtain a tax exempt card from the Finance Division. 6.2.12 The Department Director or authorized representative must approve reimbursement for purchases made by the petty cash custodian.The petty cash custodian must sign for petty cash in the presence of the Department Director. 6.2.13 Loans to employees or I.O.U.'s by employees from the petty cash fund are strictly prohibited. � � __, � G�A�.�'I�'F� �* CITY OF GRAPEVINE ADMINISTRATIVE POLICY SUBJECT: PETTY CASH SECTION: B NUMBER: 6.0 MAINTENANCE AND USE PREPARED BY: Administrative Services REVISED DATE: 01/01/2013 PAGE: 3 of 4 6.2.14 Cashing personal checks for any City employee from the petty cash fund are strictly prohibited. 6.2.15 A petty cash reconciliation reimbursement request form must be completed requesting reimbursement of petty cash.The Department Director and the petty cash custodian must sign the reimbursement form. Requests to reimburse petty cash will not be processed by Utility Billing Division if this form is not signed by both parties.All receipts and petty cash slips should be placed in a clasp envelope and attached to the reimbursement request. See Attachment C 6.0 Petty Cash Reconciliation & Reimbursement Requestform. 6.2.16 Custodian will need to allow ample time for the Utility Billing Division to review the request before the disbursement of funds to replenish their petty � cash will occur. 6.2.17 Petty cash funds are to be maintained in a locked cash box.The cash box is to be locked at all times except for the disbursement of petty cash.The petty cash custodian and the Department Director or authorized representative are the only persons to maintain or have access to the keys of the cash box.The keys to the cash box are to be properly secured at all times to prevent access by unauthorized persons. 6.2.18 The petty cash custodian and the Department Director or authorized representative are the only persons to maintain and have access to the secured area where the cash box is stored.The keys to the secured area are to be properly secured at all times to prevent access by unauthorized persons. 6.2.19 Expenditures for purchases made from petty cash are not to exceed$100. Purchases which exceed $100. will be processed by check request or through the normal purchasing function depending on the amount of the purchase. 6.2.20 Expenses incurred within the Metroplex pertaining to travel or training, including use of personal vehicle, parking, meals,etc. may be reimbursed from petty cash if such expenditures do not exceed the$100. limit and are allowed by the travel policy. No advances for these types of expenses will -- r.,�� ;>�AP��i�rE i��T F` .\ S�. ';`� ! CITY OF GRAPEVINE ADMINISTRATIVE POLICY SUBJECT: PETTY CASH SECTION: B NUMBER: 6.0 MAINTENANCE AND USE PREPARED BY: Administrative Services REVISED DATE: 01/01/2013 PAGE: 4 of 4 be made from petty cash funds.