Petty cash membership more than $one hundred must be handled during the a bank account in a neighbor hood financial institution otherwise borrowing connection that is a general public depositary (relate to Subsection .c) unless of course the agency have a secure, container, otherwise currency chest which is used to guard petty bucks. Whenever you can, all petty bucks levels are to be handled in a bank membership. Bank accounts can be exposed in the name of one’s agencies, perhaps not a single.
In the limited activities, an excellent petty cash account can be used to load currency on to a prepaid debit card. The employment of prepaid service debit notes in addition to an effective petty bucks account need pre-acceptance by OFM from Monetary Feasibility Analysis (EFS) processes. Make reference to Part .
In the event the a state auditor’s declaration shows your number of an agencys petty cash membership try too-much otherwise the explore is within admission regarding laws and regulations, this new director (otherwise specialized designee) away from OFM ount out-of, brand new petty dollars account.
|Accounting to have petty cash in treasury membership|
|.an effective||Requests for petty cash, or increases to petty cash, are made using the “Application and you will Authorization to own Petty Payday loans, Treasury Accounts” form that is available at the end of this subsection or through the Office of Financial Management (OFM), Statewide Accounting. The completed form is submitted to the OFM online payday loan Alaska Statewide Accounting (the director’s official designee) for approval. Distribution of the total amount of approved petty cash within an agency is determined by the agency.
Organizations requesting recognition having petty cash accounts that can make use of prepaid debit notes is always to reference the latest EFS recognition letter from the Excuse section of the form.
Immediately after approval, OFM commonly return the closed totally new “Software and Authorization for Petty Pay day loan, Treasury Membership” Means into company. ” Relate to Subsection .an as a keen illustrative entry. The latest warrant will be recommended and you may cashed or deposited from the the newest assigned caretaker. OFM will send a duplicate of the signed function toward Workplace out of State Treasurer.
Application and Authorization for Petty Cash Advance
Licensed Uses out-of Treasury Petty Bucks Levels – With the exception of prepaid service debit cards, the following are the brand new subscribed spends regarding Treasury petty cash:
Local market purchases of supplies and materials. These purchases may include: minor miscellaneous materials; supplies; fresh fruit and vegetables; and minor repairs and replacements parts for machinery and equipment not under state contract. Such payments may be made provided that: The purchase is within the limitations prescribed by the Department of Enterprise Services, and
When the petty bucks improve is approved, the fresh new department is to try to create a warrant to reclassify Treasury cash to GL Code 1130 “Petty Cash
Postage-due with the send. Postage-due can be paid off whether it seems that it will end up being of great benefit into condition to simply accept delivery of send.