12-171.   Petty cash funds; establishment, records and reports;restoration of moneys in fund; use; bond of responsible employees.The governing body of any city may, by resolution, authorize one or morepetty cash funds to be established and maintained in the central businessoffice of said city by a person designated by such resolution. The officialor employee designated in such resolution receiving such funds shall keep arecord of all receipts and expenditures from the fund, and shall, from timeto time, and at the end of each city fiscal year, prepare a statement forthe governing body showing all receipts, expenditures, and the balance insuch petty cash fund. The petty cash fund shall be replenished by paymentfrom the appropriate funds of the city to the petty cash fund upon properclaim. If the governing body is satisfied with the report, it may restorethe fund to the original amount. The fund shall be kept separate from allother funds and be used only for authorized expenditures and itemizedreceipts shall be taken for each expenditure. No part of such fund may beloaned or advanced against the salary of any employee. All such employeesentrusted with funds under this statute shall be bonded by the city.

      History:   L. 1972, ch. 42, § 1; July 1.