SERIES 3000: OPERATIONS, FINANCE, AND PROPERTY

3200 Finance and Borrowing

3205 Disbursements

A. A person authorized by the Board to draw upon District depository funds may sign and validate a warrant, check, and other instruments to draw upon such funds.

B. Petty Cash

1. The Board may authorize a separate petty cash fund for any District building for the purchase of materials, supplies, services, or other school related goods and services in circumstances requiring immediate payment. The amount of each petty cash fund will not exceed $400.
2. Petty Cash Fund Custodians: The following persons will be the custodians of each petty cash fund and will administer and be responsible for the funds:

1. Elementary School: Secretary
2. Middle School: Secretary 
3. High School: Secretary
4. District Office: Business Manager

3. Petty cash fund disbursements may only be made if authorized by the Superintendent or appropriate petty cash fund custodian.

4. Documentation: All petty cash fund disbursements will be supported by an itemized receipt or other sufficient evidence that documents the expenditure. The itemized receipt or supporting documentation will include the name and contact information of the business receiving the payment, the date, a description reasonably sufficient to identify each item purchased, the purpose of the purchase, and the price. Petty cash fund custodians will maintain the documentation as required by law. Expenses must be assigned to the proper budget account.

5. Purchase Review Procedures: The Superintendent or designee will review petty cash fund expenditures with the Treasurer at least monthly. Any unlawful or unauthorized expenditure or other significant discrepancy will be brought to the attention of the Board and the offending person.

6. Reconciliation and Closeout: Each petty cash fund will be reconciled by the Treasurer, or another District official designated by the Board, and closed out at the end of the fiscal year.

C. District funds or other “public funds” (as defined in Revised School Code Section 1814) under the control of the District may not be used to purchase the following:

• alcoholic beverages;
• jewelry;
• gifts;
• fees for golf; or
• any item the purchase or possession of which is illegal.

D. Public funds may be used to purchase the following to recognize an employee, volunteer, or student, if the value of the purchase does not exceed the annually adjusted amount established for that purpose by MDE:

• plaque;
• medal;
• trophy; and
• other awards.

E. The Superintendent or Board designee will keep records of receipts and disbursements and identify the sources from which they have been paid as required by law.

F. A person who misuses District funds or violates this Policy may be subject to discipline, including reimbursing the District for any unauthorized purchase.

Legal Authority: MCL 380.1814

Date adopted:   08/09/2021

Date revised: