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b. The Petty Cash Fund will be kept by the custodian in a locked box. The <br /> locked box shall be kept in a secure place. The custodian will be the only <br /> person with access to the funds. <br /> c. Payment for items costing over $25 must be made by check rather than <br /> reimbursed through petty cash. <br /> d. Withdrawals from the Petty Cash Fund will be made only by submitting <br /> receipts in which are approved by the appropriate department head. <br /> e. Supporting documentation (receipts, invoices) must be attached. <br /> f. Unannounced counts of petty cash and change will be made on occasion by <br /> the Finance Director. <br /> g. No staff member shall be allowed to cash personal checks, including pay <br /> checks, in the petty cash or change funds of the city. <br /> h. Under no circumstances shall staff members be permitted to borrow from <br /> petty cash or change funds for personal use. <br /> III. Cash Receipts <br /> Procedures <br /> 1. Segregation of Duties <br /> No financial transaction shall be handled by only one person from beginning to end. <br /> a. The Account Clerk will be responsible for receiving all cash payments to the <br /> city, whether by mail or in person. In the absence of the Account Clerk, the <br /> City Clerk may receive cash payments. <br /> b. The Account Clerk will be responsible for depositing cash receipts, coding <br /> and recording the same in the general ledger accounts of the city. <br /> c. Financial reports and bank reconciliations shall be prepared by the Finance <br /> Director and presented to the Administrator for review. Reports shall be made <br /> to the council on a monthly basis. <br /> d. Invoices for utility billing or other city services shall be prepared by the <br /> Account Clerk or Finance Director. An accounts receivable register will be <br /> maintained by the Account Clerk. <br /> 5 <br />