Agenda Item
Meeting Date: 7/11/2019 - 6:30 PM
Type: Action
Subject: Petty Cash Resolution
ACPS Division Objective :
Objective 5
We will optimize resources.
Policy: DI - Financial Accounting and Reporting
Enclosure: Petty Cash Resolution
File Attachment:
SCHOOL BOARD Petty Cash Resolution 07-11-19.pdf
Summary: Virginia Code Section 22.1-123, provides that the County may establish, by resolution, petty cash funds not to exceed $2,000 each to be used to transact its daily County business. A petty cash fund allows for department flexibility when purchasing small items or providing change to customers when cash is remitted for taxes, fees, copies, publications, etc. These funds are subject to annual audit. The County’s auditors have determined that a formal resolution must be adopted by the School Board to comply with the Code section. These funds are local.
Funding: As presented.
Recommendation: Staff recommends the School Board adopt this Resolution formally establishing petty cash funds and limits for the departments identified in the resolution.
Recommended By:
Signed By:
Jackson Zimmermann - School Finance Officer
Signed By:
Rosalyn Schmitt - Chief Operating Officer
Signed By:
Dr. Matthew Haas - Superintendent