Maintaining a petty cash fund is to be avoided unless considered absolutely necessary.
Petty cash is to be kept secure at all times and all payments from petty cash must be supported by a voucher of some nature.
Petty cash must be balanced at least monthly.
Reimbursement of petty cash is by check against charges to the appropriate expense categories supported by the vouchers in the petty cash.
Approval for petty cash expenditures would generally be similar to board policy per Payables section.
