| | A. | Upon issuance of a valid purchase order, and following receipt of the signed receiving report, a check will be issued to the person assigned responsibility for a petty cash fund.
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| | B. | This money may be used to purchase small items for which immediate payment is necessary or for which the requesting of a purchase order is impractical, but no purchase should exceed $25.00.
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| | C. | It must be remembered that payment from Petty Cash is in reality spending money which has been allotted in the budget, but is set up for making immediate payment. The money must later be transferred from the proper budget account to repay the Petty Cash account. The Petty Cash is a convenience; it does not represent any additional funds allotted in the various budget accounts.
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| | D. | When the Petty Cash Fund is to be replenished, send receipted bills, not to exceed petty cash allotment, a Purchase Order Request with the line and sub accounts which are to be charged and a check will then be issued to bring the fund back to its original status.
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| | E. | Petty Cash Fund will be closed for audit June 30th and unused funds returned to depository. July 1st a new check in the amount of $25.00 may be issued to begin the new Petty Cash Fund.
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