(A) There is hereby authorized, created and established a petty cash fund for use by the office of the Clerk-Treasurer to be known as Clerk-Treasurer Petty Cash Fund, pursuant to the provisions of I.C. 36-1-8 et seq.
(B) The Clerk-Treasurer and such employees as the Clerk-Treasurer may designate are permitted to use it to pay small, emergency or exigent items of operating expense, according to guidelines that the Clerk-Treasurer may establish, in order to support the duties outlined in and to carry out the purposes of this chapter:
(1) The Clerk-Treasurer is permitted to establish a Petty Change Fund in support of this section;
(2) Such a Fund must be established by a warrant drawn upon the appropriate fund in favor of the Clerk-Treasurer, who is the custodian of the Fund;
(3) Each expenditure from the Petty Cash Change Fund shall be supported by a receipt;
(4) The Clerk-Treasurer, as custodian of the Fund, or his or her designee, shall periodically file a voucher, with all original receipts totaling the cash claimed expended being attached to it, in support of the reimbursement of expenditures from the Fund; and
(5) Reimbursement must be approved and allowed at any regular or special meeting of the Town Council or board of jurisdiction and made in the same manner as is required for other expenditures of the municipality or the office of the Clerk-Treasurer.
(C) The Fund shall be established by a warrant drawn from the proper appropriated or nonappropriated balance of the General Fund, as the Town Council may direct, in the amount of $50, in support of the establishment of such a Petty Change Fund:
(1) The establishing warrant, and such successive warrants as shall be necessary to resupply the fund, shall be drawn in favor of the Clerk- Treasurer who shall convert the warrant to cash; and
(2) The Clerk-Treasurer shall account for it in the same manner as is required of other funds of the town.
(D) The entire Petty Cash Fund authorized and established pursuant to this section shall be returned to the General Fund whenever there is a change in the custodian of the Fund or whenever the purposes of the Fund have substantially changed or the Fund is no longer needed.