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Policy 020

PLATTEKILL PUBLIC LIBRARY 

PETTY CASH POLICY 

Adopted: June 11, 2015 Page 1 of 1 

Revised: February 11, 2016 

The purpose of this petty cash policy is to authorize the Director to create a procedure to comply with the Office of the New York State Comptroller requirements, as amended. 

Petty Cash 

A petty cash box shall be kept in a secure location on library premises for the purpose of reimbursements to staff members for items purchased for the library totaling less than $40.00.  Reimbursements should be made no longer than 30 days after a reimbursement request is submitted.  Documentation of these purchases and reimbursements are to be recorded and maintained by the bookkeeper.  The bookkeeper, library director, or library assistant must approve the reimbursement. No sales tax may be reimbursed.  Employees making library purchases may use the tax exempt form. 

Reimbursements for purchases totaling $40.00 or more shall be made by voucher and paid from the general checking account after monthly audit.  This procedure may be updated as needed in order to meet the needs of the library and to comply with the Office of the New York State Comptroller requirements, as amended. 

Cash Register 

Cash register monies shall be retained until deposit into the general savings account.  Cash register monies are to be counted weekly by two employees and reconciled with the cash register tape.   

Cash register monies shall be deposited into the general savings account once per week and monthly reports shall be available to the board of trustees at each board meeting. 

Daily reconciliations and deposits are not warranted as the amount of income received is negligible and it is not cost effective for our library at this time. This policy should be reviewed annually to re-evaluate the deposit and reconciliation schedule based on average weekly income.