PETTY CASH

 

 

 

From time to time, cash purchases or payments are more expedient than payments by check from the library account.  The Library Director may authorize payment from petty cash within specified limits.

 

I.  PETTY CASH

 

POLICY STATEMENT:  Cash monies collected from any source and accumulated for deposit into the Library Special Account are petty cash.  The petty cash should not exceed 50 dollars.

 

II.  REPRESENTATIVE ITEMS PURCHASED

 

POLICY STATEMENT:  The types of items purchased with petty cash may include books, prizes for contests, food items for special events, postage,and other materials for library use. 

 

III.  LIMITATIONS

 

POLICY STATEMENT:  The Library Director may authorize purchases under 50 dollars with petty cash.  The Library Board may authorize purchases of over 50 dollars, not to exceed 100 dollars, with approval of 3 board members.

 

PROCEDURES:

 

1.  The Library Director will authorize the expenditure and place a petty cash disbursement slip in the cash drawer.

2.  The item will be purchased.

3.  The receipt for the item purchased will be clipped to the cash record book with the petty cash disbursement slip from the cash drawer.

4.  The Library Board may be polled in person or by telephone for approval of disbursement over 50 dollars.