CHAPTER 13. PETTY CASH FUND

IC 20-40-13

    

Chapter 13. Petty Cash Fund

IC 20-40-13-1

"Custodian"

    

Sec. 1. As used in this chapter, "custodian" means a person
appointed by the governing body to be responsible for the
maintenance and administration of the fund.

As added by P.L.2-2006, SEC.163.

IC 20-40-13-2

"Fund"

    

Sec. 2. As used in this chapter, "fund" refers to a petty cash fund
established under section 3 of this chapter.

As added by P.L.2-2006, SEC.163.

IC 20-40-13-3

Establishment of fund

    

Sec. 3. The governing body of each school corporation may
establish and maintain a petty cash fund to pay small or emergency
expenses of an administrative or operating nature.

As added by P.L.2-2006, SEC.163.

IC 20-40-13-4

Maximum balance

    

Sec. 4. If a fund is established, the governing body shall make an
appropriation for the fund in an amount that is not more than five
hundred dollars ($500). The fund shall be established by a warrant
drawn on the general fund of the school corporation payable to a
custodian appointed by the school corporation.

As added by P.L.2-2006, SEC.163.

IC 20-40-13-5

Custodian responsibilities

    

Sec. 5. The custodian shall convert a warrant described in section
4 of this chapter to cash and is responsible for the administration of
the fund.

As added by P.L.2-2006, SEC.163.

IC 20-40-13-6

Custodian reports

    

Sec. 6. (a) At the end of each month, the custodian shall file with
the governing body a report showing the:

        (1) balance of the fund at the beginning of the month;

        (2) amount of all warrants drawn and expenditures from the
fund during the month; and

        (3) balance on hand in the fund at the end of the month.

    (b) For each expenditure from the fund, the custodian shall obtain
a receipt or voucher, which the custodian shall file with the monthly
report.

As added by P.L.2-2006, SEC.163.

IC 20-40-13-7

Termination of custodian duties; reconciliation of fund accounts

    

Sec. 7. If the fund is no longer needed or a change is made in
custodian, the custodian shall return the balance of the fund to the
general fund and make a report to the governing body containing the
information and supporting receipts or vouchers required under
section 6 of this chapter.

As added by P.L.2-2006, SEC.163.