(A) Recitals. The recitals in the ordinance codified herein are incorporated as substantive portions hereof as though fully set forth herein.
(B) Establishment of petty cash box. The Village Board hereby adopts the following policy regarding the use of petty cash which shall provide as follows.
(C) Petty cash policy.
(1) This policy sets forth the procedures for the handling and use of petty cash moneys of the village. One petty cash box shall be located at the Village Hall and shall be secured by the Village Clerk. Unless otherwise designated, the Village Clerk shall be responsible for seeing that the total number of receipts and cash equal the amounts detailed herein, for keeping records of same, and for otherwise handling the petty cash box. The petty cash box shall be audited, both by a quarterly schedule and surprise, by the Chairperson of Accounts and Finances.
(2) Any village official who needs petty cash must fill out a Petty Cash Request Form and submit it to the Village Clerk who shall maintain a file of said requests. No one is allowed to take money from petty cash without a Petty Cash Request Form, which must be signed and approved by either the Village President or the Chairperson of Accounts and Finances. Petty cash shall further not be used to reimburse any village official unless a Petty Cash Request Form has been duly executed and approved and a receipt is provided with the Form. When petty cash is used to purchase an item or service, a receipt must be obtained and given to the Village Clerk.
(3) The petty cash box shall contain a maximum of only $100 and a report of expenditures from petty cash shall be prepared by the Village Clerk and presented to the Village Board on a quarterly basis.
(Ord. 719-11a, passed 7-19-2011)