N.J. Admin. Code § 6A:23A-16.8

Current through Register Vol. 57, No. 1, January 6, 2025

Section 6A:23A-16.8 - Petty cash fund

(a) Pursuant to N.J.S.A. 18A:19-13, a district board of education or charter school or renaissance school project board of trustees may establish policies for the annual allocation of a petty cash fund or funds for the purpose of making immediate payments of comparatively small amounts.

(b) A district board of education or charter school or renaissance school project board of trustees establishing a petty cash fund shall:

1. Indicate the amount(s) authorized for each fund;

2. Set the maximum expenditure that may be made from each fund;

3. Designate an employee who shall be responsible for the proper disposition of each fund;

4. Establish the minimum time period in which the designated person shall report to the district board of education or charter school or renaissance school project board of trustees on amounts disbursed from each fund; and

5. Approve a voucher prepared by the school business administrator/board secretary to replenish each fund.

(c) Each person designated pursuant to (b)3 above shall ensure that all unused petty cash funds are returned to the depository at the close of each fiscal year.

N.J. Admin. Code § 6A:23A-16.8

Amended by 49 N.J.R. 1079(a), effective 5/1/2017

Amended by 49 N.J.R. 2521(a), effective 8/7/2017

Amended by 56 N.J.R. 2166(a), effective 11/4/2024