11

PETTY CASHPETTY CASH

July 16, 2007

22

Petty CashPetty Cash • Purpose: use for small and emergency purchases, not on-going expenses.

• Should NOT be used as a substitute for the normal processing of vendor payments, loans, personal items, or cashing a check.

• Reimbursable: Expenditures must not exceed the amount of the established fund.

33

ESTABLISHING A PETTY CASH ESTABLISHING A PETTY CASH FUNDFUND

• All requests to establish a petty cash fund must be in All requests to establish a petty cash fund must be in writing (memo or email) to the Auditor-Controllerwriting (memo or email) to the Auditor-Controller

• Describe the purposeDescribe the purpose

• State the estimated size of the fundState the estimated size of the fund

• Specify the means to protect the fund against loss or Specify the means to protect the fund against loss or misusemisuse

• Requests for change should explain the need and Requests for change should explain the need and provide supporting documentationprovide supporting documentation

44

Petty Cash – SecurityPetty Cash – Security • Review “Recommended Internal Control Procedure for New Revolving Fund” memo from Auditor-Controller.

• Custodian responsible for accounting & safeguarding of cash & proper receipts should be MAC Chair or Treasurer.

• Cash & receipts have to be maintained in a LOCKED cash box.

• Cash & receipts must be maintained in the District Supervisor office.

55

Reconciliation of Petty Cash FundReconciliation of Petty Cash Fund

• Use “MAC Petty Cash Reconciliation” Use “MAC Petty Cash Reconciliation” worksheet to reconcile expenditures worksheet to reconcile expenditures and receipts per the General Ledger on and receipts per the General Ledger on a regular basis.a regular basis.

• Regular Basis: once a month Regular Basis: once a month (recommended) (recommended)

66

Reimbursements & ReplenishmentReimbursements & Replenishment

• All purchases must be supported by proper All purchases must be supported by proper documentation: D.15 Demand, original receipt or documentation: D.15 Demand, original receipt or register taperegister tape

• Documentation must be signed by person who made the Documentation must be signed by person who made the purchasepurchase

• TC-52 County Coding Slip can replenish the fundTC-52 County Coding Slip can replenish the fund• Replenish once a monthReplenish once a month• Cash should be counted each time replenishment is Cash should be counted each time replenishment is

requestedrequested• Discrepancies between total cash on hand plus receipts Discrepancies between total cash on hand plus receipts

and vouchers should be reported to Auditor-Controller and vouchers should be reported to Auditor-Controller immediatelyimmediately

77

Reconciliation - Access to Finance LedgerReconciliation - Access to Finance Ledger

• Access to Auditor Controller’s Intranet Access to Auditor Controller’s Intranet Site. Site.

• Contact with Jennifer Webber to add Contact with Jennifer Webber to add your name on Auditor’s monthly your name on Auditor’s monthly financial report email distribution listfinancial report email distribution list– (925)646-2891(925)646-2891– jwebb@ac.cccounty.usjwebb@ac.cccounty.us