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 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-WRITING PETTY CASH CASH Reimburse for purchases $10-$15 and under Max. amount of PC cash box is $200 CHECK Reimburse for purchases $10.01-$15.01 to $250 Within how many days? 15 DAYS