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 personappointed by the governing body to be responsible for themaintenance 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 fundestablished 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 mayestablish and maintain a petty cash fund to pay small or emergencyexpenses 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 anappropriation for the fund in an amount that is not more than fivehundred dollars ($500). The fund shall be established by a warrantdrawn on the general fund of the school corporation payable to acustodian 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 section4 of this chapter to cash and is responsible for the administration ofthe 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 withthe 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 thefund 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 obtaina receipt or voucher, which the custodian shall file with the monthlyreport.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 incustodian, the custodian shall return the balance of the fund to thegeneral fund and make a report to the governing body containing theinformation and supporting receipts or vouchers required undersection 6 of this chapter.
As added by P.L.2-2006, SEC.163.