N.Y. Comp. Codes R. & Regs. tit. 8 § 170.4

Current through Register Vol. 46, No. 51, December 18, 2024

Section 170.4 - Petty cash funds

(a) A board of education which has established petty cash funds shall adopt rules and regulations regarding the operation of such funds. These rules and regulations shall:

(1) designate the person responsible for the funds;

(2) specify the maximum amount of each fund, subject to the restrictions set forth in subdivisions (b) and (c) of this section;

(3) prescribe the method of recordkeeping; and

(4) provide for the kinds of payment which may be made from such funds subject to the provisions of subdivision (d) of this section.

(b) A petty cash fund established in a school district employing less than eight teachers may not exceed $5.

(c) In districts employing eight or more teachers, the balance on hand in each fund shall not exceed $100 at any time. Deposits to such funds may be made from time to time in amounts which shall not exceed payments made in cash from the funds, as indicated by receipts, receipted bills or other evidence of payment in form available for audit.

(d) Payments from petty cash funds may be made for materials, supplies or services only when payment is required upon delivery.

(e) Petty cash funds provided for buildings, cafeterias, school stores or other activities which will not operate during July and/or August will be closed out by June 30th.

N.Y. Comp. Codes R. & Regs. Tit. 8 § 170.4