TARRY HOUSE, INC.

 

Subject:  Petty Cash Policy                                          

 

Procedure Number:  B.P. 07

Site:  All Sites

 

Issued By: Executive Director

Effective:  10/05/98

Approved By: The Board of Trustees

Revised: 11/29/05; 11/3/08

Reference Policy: B.P. 01

Reviewed:  12/13/00; 11/30/01; 11/25/02; 11/25/04; 11/29/05; 11/3/08

 

Standards Reference:

CARF: Section 1 H & I

ODMH: 5122-30-19

 

I.                   Purpose

 

To establish guidelines and procedures for the procurement, spending and accounting for funds withdrawn from the agency petty cash accounts by Tarry House, Inc. staff.

           

 

II.                Policy

 

It is the policy of Tarry House, Inc. to maintain petty cash accounts at each facility for the purpose of making necessary purchases that are minor in nature, which would otherwise have to be handled by check. The amount of the account shall not exceed $950.00 and shall be used at the discretion of the Executive Director, Business Manager or Program Managers.

 

 

III.             Procedure

 

1.      In order to access petty cash funds, all staff are required to fill out, sign and submit for approval, a petty cash voucher.

2.      The petty cash voucher must be filled out completely and submitted for approval by the Manager or Supervisor.

3.      The request for petty cash funds must be reviewed and approved by the appropriate manager/supervisor before any funds are disbursed to the staff person.

4.      Any staff person who receives petty cash is responsible for accounting for the total amount of cash received.

5.      Cash received must be accounted for with receipts, cash or a combination of the two.

6.      An accounting for petty cash received must be done no later than the next business day from the time the cash is received.

7.      Any staff person, who cannot fully account for petty cash funds received by them, will be responsible for reimbursing the account for any discrepancies.

8.      The combination of cash and receipts in the account shall always total the designated amount of money in the petty cash account.

9.      The Tarry House Bookkeeper shall reconcile the petty cash account at least monthly.

10.  During the annual audit, the independent auditor will review the yearly petty cash expenditures.        

 

 

 

 

___________________________________________                                  _____________________

Executive Director                                                                                            Date