petty cash for newbies october 2010 back to basics petty cash purchases are limited to $250 or less...

PETTY CASH FOR NEWBIES

OCTOBER 2010

BACK TO BASICS

Petty cash purchases are limited to $250 or less

Items over $250 are to be purchased with approved PO

Reimburse staff members for PISD purchases made with personal funds

BUT CAN I ?

Request multiple receipts at the same store, the same day to

keep each receipt below $250?

BUT CAN I ?

Shop every week at the same store to purchase same item(s)?

Repetitive buying circumvents

purchasing guidelines

BUT CAN I ?

Purchase items from any vendor?

As long as the purchase is $250 or less.

BUT CAN I ?

Issue a reimbursement for more than $250 on a single check?

As long as the receipts are not from same store, same day

BUT CAN I ?

Issue a reimbursement for

$20 parking fee?

As long as the total travel expense such as cab fares, tolls, parking, meals is $50 or less

BUT CAN I ?

Reimburse for drinks that are not

Dr. Pepper products?

Only Dr. Pepper products are reimbursable.

BUT CAN I ?

Issue a check to a vendor?

One exception only to a vendor –

Refer to student book order handout

BUT CAN I ?

Issue a check to a parent ?

Only exception –

For textbook or library book refund

BUT CAN I ?

Cash a personal check from

PC cash box ?

MORE INFORMATION

RECEIPTS

Should reflect PISD purchases only No personal items on receipt Should be original receipt Be cautious of cash back on receipt SUBMITTED AND REIMBURSED

WITHIN 15 DAYS OF EXPENDITURE DATE

LOST RECEIPT ? Request a copy from store - Preferred Lost Receipt Form may be submitted

with following information:• Seller’s / Vendor Name• Address & Phone Number• Date of Purchase• Amount Paid• Items Purchased• Principal and Staff Signature

WAL-MART

214-555-9999

AUG 30, 2009

$75.00

SALES TAX

Methods to secure sales tax exemption for PISD purchases:– Provide PISD identification badge or– Provide tax exempt card

• A number is not required

OK to reimburse staff for sales tax

CASH VS CHECK-WRITINGPETTY CASH

CASHReimburse for purchases $10-$15 and under

Max. amount of PC cash box is $200

CHECKReimburse for purchases $10.01-$15.01 to $250

Within how many days? 15 DAYS