CHAPTER 13. PETTY CASH FUND
IC 20-40-13
Chapter 13. Petty Cash Fund
IC 20-40-13-1
"Custodian"
Sec. 1. As used in this chapter, "custodian" means a person
appointed by the governing body to be responsible for the
maintenance and administration of the fund.
As added by P.L.2-2006, SEC.163.
IC 20-40-13-2
"Fund"
Sec. 2. As used in this chapter, "fund" refers to a petty cash fund
established under section 3 of this chapter.
As added by P.L.2-2006, SEC.163.
IC 20-40-13-3
Establishment of fund
Sec. 3. The governing body of each school corporation may
establish and maintain a petty cash fund to pay small or emergency
expenses of an administrative or operating nature.
As added by P.L.2-2006, SEC.163.
IC 20-40-13-4
Maximum balance
Sec. 4. If a fund is established, the governing body shall make an
appropriation for the fund in an amount that is not more than five
hundred dollars ($500). The fund shall be established by a warrant
drawn on the general fund of the school corporation payable to a
custodian appointed by the school corporation.
As added by P.L.2-2006, SEC.163.
IC 20-40-13-5
Custodian responsibilities
Sec. 5. The custodian shall convert a warrant described in section
4 of this chapter to cash and is responsible for the administration of
the fund.
As added by P.L.2-2006, SEC.163.
IC 20-40-13-6
Custodian reports
Sec. 6. (a) At the end of each month, the custodian shall file with
the governing body a report showing the:
(1) balance of the fund at the beginning of the month;
(2) amount of all warrants drawn and expenditures from the
fund during the month; and
(3) balance on hand in the fund at the end of the month.
(b) For each expenditure from the fund, the custodian shall obtain
a receipt or voucher, which the custodian shall file with the monthly
report.
As added by P.L.2-2006, SEC.163.
IC 20-40-13-7
Termination of custodian duties; reconciliation of fund accounts
Sec. 7. If the fund is no longer needed or a change is made in
custodian, the custodian shall return the balance of the fund to the
general fund and make a report to the governing body containing the
information and supporting receipts or vouchers required under
section 6 of this chapter.
As added by P.L.2-2006, SEC.163.