PURPOSE:
To establish a Petty Cash Policy and Procedure to meet financial and auditing standards.
SCOPE:
The control and use of petty cash funds is limited to Staff, Elders and Volunteers.
PROCEDURE:
* The petty cash amount shall be limited to $25.00, unless the Budget & Finance Committee approves a change.
* The Church Administrator shall be responsible for the control, disbursement and reconciliation and of the fund.
* A request for petty cash funds shall be kept to a minimum and utilized for last minute legitimate expenses. A receipt for the amount disbursed shall be required, and shall accompany any request for replacement funds in excess of the petty cash amount. This receipt shall include the reason for the petty cash request, and be signed by the individual making the request.
* The petty cash fund shall be reconciled monthly by the Church Administrator.
RESPONSIBILITY:
Control and reconciliation of the petty cash fund resides with the Church Administrator reporting to the Communication and Resources Team.
LAST REVIEWED 2008
