72-8208. Petty cash funds.
72-8208
72-8208. Petty cash funds.(a) The board of education of any school district mayauthorize, by separate resolutions, the establishmentof petty cash funds from which to make neededexpenditures for school district purposes in emergencies.
Every such resolutionshall specify the general purpose for which the petty cash fund is to be established,authorize an employee of the school district to administer the petty cashfund, and designate an amount of moneys, not to exceed $1,500, to be maintainedin the petty cash fund.
(b) The employee authorized to administer any petty cash fund establishedby any resolution provided for in this section shall keep a record of all receipts andexpenditures from the fund, and shall, from time to time, and at the endof each school year, prepare a statement for the board of educationshowing all receipts, expenditures, and the balance in the petty cashfund. The petty cash fund shall be replenished by payment from theappropriate funds of the school district to the petty cash fund uponproper claim. If the board of education is satisfied with the report,the board may restore the fund to its original amount. The fund shall bekept separate from all other funds and be used only for authorizedexpenditures and itemized receipts shall be taken for each expenditure.No part of the fund may be loaned or advanced against the salary of anyemployee. All employees entrusted with the administration ofpetty cash funds under authority of this statuteshall be bonded by the school district.
History: L. 1959, ch. 308, § 2; L. 1968, ch. 226, § 1; L. 1969,ch. 352, § 1; L. 1977, ch. 257, § 1; L. 1983, ch. 241, § 1; July 1.