Petty cash levels over $one hundred need to be was able inside a bank account when you look at the a region lender otherwise credit commitment that’s a community depositary (refer to Subsection .c) unless the department keeps a secure, vault, or money bust which is used to guard petty cash. Whenever possible, the petty dollars accounts should be maintained in the a bank membership. Bank account should be open regarding the identity of company, maybe not an individual.
When you look at the limited circumstances, good petty dollars account could be used to load currency to a prepaid debit credit. Using prepaid debit cards in conjunction with good petty cash account demands pre-acceptance because of the OFM from the Economic Feasibility Research (EFS) processes. Reference Area .
In the event the a state auditor’s statement shows that level of an agencys petty dollars membership are too much otherwise the play with is in solution out-of laws and regulations, the latest movie director (otherwise specialized designee) out of OFM ount from, the fresh new petty dollars membership.
| Bookkeeping to have petty money in treasury profile |
| .good | Requests for petty cash, or increases to petty cash, are made using the “App and you can Consent to possess Petty Cash advance, Treasury Accounts” form that is available at the end of this subsection or through the Office of Financial Management (OFM), Statewide Accounting. The completed form is submitted to the OFM Statewide Accounting (the director’s official designee) for approval. Distribution of the total amount of approved petty cash within an agency is determined by the agency.
Businesses requesting recognition to own petty cash profile that incorporate prepaid service debit notes is to resource brand new EFS approval page in the Reason part of the form. Shortly after recognition, OFM usually go back the brand new signed fresh “Application and you can Watertown payday loans no credit check Agreement having Petty Cash advance, Treasury Accounts” Means into the institution. ” Make reference to Subsection .an as an enthusiastic illustrative entry. The fresh warrant is usually to be supported and you may cashed or transferred because of the the brand new assigned caretaker. OFM will be sending a duplicate of one’s closed means toward Place of work off Condition Treasurer.
Application and Authorization for Petty Cash AdvanceSigned up Uses out of Treasury Petty Cash Accounts – Apart from prepaid service debit notes, allow me to share the newest signed up spends out of Treasury petty bucks: Local market purchases of supplies and materials. These purchases may include: minor miscellaneous materials; supplies; fresh fruit and vegetables; and minor repairs and replacements parts for machinery and equipment not under state contract. Such payments may be made provided that: The purchase is within the limitations prescribed by the Department of Enterprise Services, and In the event that petty cash increase is eligible, brand new department is to create a guarantee to help you reclassify Treasury dollars to help you GL Password 1130 “Petty DollarsPostage due for the send. Postage due can be paid down whether it appears that it does feel of great benefit toward state to just accept beginning of post.
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