1982 - Summary of City Government

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� Department: �inance Policy Title: Petty Cash and Chan�e Funds Background Sfiatement: The City currently m�intains petty cash and change funds. The imprest petty cash �ethod is used to �ay fQr supplies and services in amounts of $10.00 or less. Currently, �our de�artments have u� to $100.00 in petty cash. Chan�e funds are used to make chan�e by the depart�ents that xeceive money on a daily basis. Five to seven depart�ents have such funds during the year. Each department should maintaan enough cash so proper change can be r.iade and still not maintain excess cash. {dhen departmenrs are not operating, �he chan�e monies are returned to the Finance De�artment. Policy 5tatement: Imprest petty cash £unds are limited in numbers and are of sufficient size to allow £or payments of supplies and services. Change funds are used by de�artments receiving monies from the public. Each chan�e £und �ust be of such size that the nroner ar_iount of change can be provi�ed as each situation �ay demand. Procedures Statement: Tmprest netty cash funds for each denaxt�ent would have a i00,0� maximum for payments oi supplies and sexvices. Invoices or receipts �ust be attached to the �etty cash vouchers fo�, and each voucher �ust be dated, show the a�ount paid, and be si �e�, l`lhen the nonies in each fund reach a minimtun, the co�leted vouchers are sub�ifite� to the Finance Department for reimbursement. The check for reimburse�ent wi11 be sent to the bank with the daily denosit to be cashed. 'I'he money will be retu?-rted to the department for future payments. Change fLmds wi11 be m.aintained in denartments that receive cash in separate iocations in the City. The funds wzll be of such size that correct amounts o£ chan�e can be provi�ed. 4Yhen denartments axe not oneratin�, or the monics in the chan�e fund become excess, these monies rmzst be reti.irned to the Finance Department. During the year, Finance wi1l make occasional audifis or petty cash and change £unds to see that each £und is nro�erly maintained. Authoxity: Finance �epart�ent Directive.