Spencerport Central School District

FISCAL ACCOUNTING AND REPORTING

5530 PETTY CASH FUNDS AND CASH IN SCHOOL BUILDINGS

Petty Cash Funds

A petty cash fund of not more than $100 will be maintained in the District Office and in each school building in a secure location. Payments from petty cash funds may be made for materials, supplies, or services only when payment is required upon delivery. At the time of reimbursement, an itemized statement of expenditures, together with substantiating receipts, must be submitted. These accounts will be authorized by Board resolution at its annual meeting.

Cash in School Buildings

Not more than $250, whether District or extraclassroom funds, will be held in the vault in the Main Office of each District school building. Under no circumstances will cash be left in classroom areas or desks. The District will not be responsible for funds left unprotected. 

All funds, whether District or extraclassroom funds, will be deposited prior to close of school each week. Only authorized personnel designated by the building administrator will be allowed in the Main Office vault.

Records for Cash Transactions

Any monies received from a student, parent, or any other person must be properly accounted for. Records of cash transactions must be maintained. The money shall be promptly deposited in the general funds.

Policy References:

Education Law §§ 1604(26), 1709(29) and 2503(1)

8 NYCRR § 170.4

Adopted: 6/22/99

Revised: 9/6/22

Policy 5530