§ 14-237-107 - Petty cash funds.
14-237-107. Petty cash funds.
(a) Municipal water and sewer departments are permitted to establish petty cash funds, so long as the funds are maintained as set forth in this section. The establishment of a petty cash fund must be approved by the commission.
(b) (1) In establishing a petty cash fund, a check is to be drawn upon the bank account of the water and sewer department payable to "Petty Cash." That amount may be maintained in the water and sewer department offices for the handling of small expenditures for items such as postage, light bulbs, delivery fees, etc.
(2) A paid-out slip is to be prepared for each item of expenditure from that fund and signed by the person receiving the moneys. These paid-out slips shall be maintained with the petty cash.
(3) When the fund becomes depleted, the department may then draw another check payable to "Petty Cash" in an amount which equals the total paid-out slips issued, and at that time the paid-out slips shall be removed from the petty cash fund and utilized as invoice support for the check replenishing petty cash.