Laserfiche WebLink
·cc lion JS: Altered ' urrcilcV <br />Altering currency is done by taking a genuine bill and tearing off a corner or two of a small bill such as a $1 or $5 <br />and then replacing these corners with the corners of a larger bill such as a $ I 0, $20 or $50 bill. The original larger <br />denomination bill is still redeemed as full value as mutilated money with one or more corners missing. The <br />Treasurer's Office recommends as a standard practice counting currency by looking at the face of the bill, not at the <br />denomination in the corners. <br />Section J6: Pellv asJ1 <br />For the purpose of this policy, petty cash includes change funds, till accounts, revolving funds, advanced travel, <br />and any money or other funds set aside for such specific purpose as minor disbursements, making change, or <br />similar use. If petty cash is disbursed, it may be restored to its beginning balance twice monthly by a warrant <br />drawn and charged to the appropriate budget account. The amount of the warrant should always be equal to the <br />amount of the disbursements. <br />1) The Board of County Commissioners must authorize the establishment of each petty cash account by <br />resolution, submitted to the Board by the County Auditor's Office. Likewise, subsequent increases or <br />decreases in the appropriate account. <br />2) A custodian of the account shall be appointed, and should not be connected with the processing of <br />invoices, check signing, general account, or cash receipt functions within the department. <br />3) The custodian shall assure the petty cash is kept in a safe and secure location at all times. <br />4) It is the responsibility of each department to assure that their petty cash account is periodically reconciled <br />by personnel other than the custodian of the account. The County Auditor, or his/her designee, shall <br />perform monthly audits of each department's petty cash accounts. <br />5) The imprest amount shall be established by issuing a warrant. When established by warrant, the <br />transaction is a non-budget item. <br />6) The authorized amount of all petty cash must be accounted for on the County's balance sheet. <br />7) If petty cash is disbursed, it must be replenished a minimum of one time per month. This action is subject <br />to the same review and approval process as invoices. The replenishment of the petty cash account must be <br />vouchered with the appropriate original receipts attached. These receipts must include: <br />a. Date <br />b. Amount <br />c. Recipient <br />d. Purpose of each disbursement <br />8) Receipts must be signed by the person receiving funds. Receipts should be perforated, or canceled by <br />some other means to prevent reuse. At the time of replenishment, the custodian must insure the balance <br />remaining in the petty cash fund, together with the replenishment voucher, equals the authorized imprest <br />account. <br />9) The amount of petty cash held by each department should not exceed one month's salary or surety bond <br />covering the account custodian. <br />I 0) The petty cash account may NOT be used to reimburse an employee from these funds, regardless of the <br />situation. <br />11) The petty cash account may NOT be used for personal cash advances, regardless of the situation. <br />12) Petty cash accounts should always be replenished to their original levels at the end of each fiscal year. <br />This will insure all expenses are reflected in the proper accounting period. <br />13) When an individual's appointment as custodian has ended, the fund must be replenished to its original <br />balance and the imprest amount turned over to the disbursing officer. The County Auditor must then be <br />notified of the change in custodian, and his/her designee will be responsible for performing an audit. <br />on-Count Moncv <br />Monetary Gifts: Any monetary gifts to the County received by a County Official, employee, or agent from a <br />known benefactor. <br />9