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Staff Report
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Report To: Audit and Accountability Committee
Date of Meeting: April 7, 2021 Report Number: IAS-001-21
Submitted By: Catherine Carr, Manager of Internal Audit
Reviewed By: By-law Number:
File Number: [If applicable, enter File Number] Resolution#:
Report Subject: Cash Handling
Recommendations:
1. That Report IAS-001-21 be received; and
2. That staff be directed to implement the recommendations set out in section 8 of this
report .
Municipality of Clarington
Report IAS-001-21
Report Overview
Page 2
The findings from the internal audit of petty cash and cash float accounts are summarized in
the report. The internal audit was conducted in December 2020. There were several
deficiencies noted and recommendations are included in the report.
It is important to note that typical internal audits do not include the level of detail contained in
this report. Normally, a sample is taken from the data and rigorous testing is applied and the
results are reported at a higher level. Due to the small number of petty cash and cash float
accounts, each fund was reviewed.
1. Background
1.1 An audit workplan was presented to the Audit and Accountability Committee (AAC) on
November 16, 2020. The first audit is a cash handling audit that focused on Cash Floats
and Petty Cash. While these do not include large dollars, cash handling audits are
important to ensure the proper internal controls are in place. Most internal audits select
a sampling of the data and test the controls and processes on the sample. Due to the
small number of petty cash and cash float accounts, all funds were counted and
reviewed. For future internal audits, an appropriate method to select the sample data
will be used.
1.2 It is important to note that petty cash and cash float are not the same, as they serve
different purposes. For this reason, there should be clear separation between the two
funds. They must not be stored together in the same cash drawer.
1.3 The cash float is the constant amount kept in the cash drawer to facilitate making
change. There should be no activity in the cash float general ledger unless there is a
requested increase or decrease to the cash float. Periodic checks after the daily
balancing should confirm the cash float amount. It there is an overage or shortage, it
should be included in the cash receipts with the daily balancing and keep the cash float
at the constant amount. Any shortages or overages would be associated and recorded
with the daily transactions.
1.4 Petty cash is used for minor expenses and replenished on a regular basis. This ensures
that any expenses are recorded in the accounting system in a timely manner. The policy
G12 — Petty Cash, outlines the physical security and the safeguarding of the petty cash
funds. This policy was put in place effective February 27, 2018. A copy of the policy is
attachment 1 in the report. With the expansion of the purchasing card program and the
improvements to the employee expense - reimbursement process, petty cash should be
used for only minor expenses.
1.5 An internal audit was conducted during the first two weeks of December 2020 with the
assistance of Financial Services staff. The Accounting Services Manager has given the
Municipality of Clarington Page 3
Report IAS-001-21
responsibility of overseeing the petty cash and cash float accounts to the Accounting
Clerk I (Accounts Receivable) within the Financial Services Department.
1.6 These accounts were reviewed under the previous department structure. In 2020, there
were several changes to the organizational structure; however, the general ledger
account structure was only changed in 2021. There were some changes made in these
accounts in anticipation of the organizational changes. Included in this report are some
further recommended changes to these accounts.
1.7 A spreadsheet was prepared and included the general ledger account number, account
balance, calculation of the cash count and some general questions. The results are
discussed below as well as summarized in the attached tables, attachments #2 and #3.
2. Petty Cash
2.1 In December 2020, there were 14 petty cash accounts that totaled $2,470. The physical
count of the petty cash which factored in any receipts that had been paid out totaled
$2,524.24. This is an overall variance of $54.24 or 2.20 per cent. The majority of the
petty cash funds were stored in a locked cash box and kept in a secure location. As
well, most petty cash funds were managed by one staff member. Petty cash funds are
summarized in attachment #2.
2.2 Through the audit, the following observations were made:
• Petty cash and cash floats held in the same cash drawer or cash box.
• Petty cash being used as a cash float.
• Ongoing shortages and/or overages not being accounted at time of balancing or
replenishment.
• Petty cash not being replenished in a timely manner. One petty cash had two
receipts from 2019 that had not yet been submitted at time of the audit.
• Petty cash boxes were not locked or secured.
• Petty cash contained extra items that were not identifiable such as gift cards.
3. Cash Float
3.1 In December 2020, there were 20 cash float accounts that totaled $6,411.85. The
physical count of the cash float $6,495.12. This is an overall variance of $86.27 or 1.3
per cent. Eleven of the cash floats matched the general ledger balance. The majority of
the cash floats were stored in a secure location. Cash float funds are summarized in
attachment 3.
Municipality of Clarington
Report IAS-001-21
3.2 Through the internal audit the following observations were made:
• Petty cash and cash floats held in the same cash drawer or cash box.
• Petty cash was used as concurrently used as a cash float at one location.
• Cash floats not verified on a regular basis.
• Cash floats not kept in a secure location.
• Cash float not found. Current staff were not aware of the cash float existing.
Discussed in detail below.
• Error in general ledger account for cash float
4. Subsequent Changes
4.1 Due to the reorganization of departments there have been some changes to the
accounts. Some departments have made some changes already.
4.2 These changes are summarized below.
Page 4
a) With the Building Services division moving to the Planning and Development Services
Department, the Building Services petty cash account was returned to Financial
Services on December 17, 2020. Any need for petty cash will be managed through the
Planning & Development petty cash account. As well the Building Services transitioned
over to the Planning cash float as their transactions recorded in the Planning &
Development Services Department.
b) Public Works includes the former Operations and Engineering Departments. Before the
reorganization, the Engineering Department shared a cash float with Building Services.
With the two locations (Municipal Administration Centre and the Hampton Operations
Centre), it was decided by the department to set up a $75 cash float for transactions at
the Public Works — Infrastructure counter and a $75 petty cash for the same location.
This was completed January 14, 2021.
5. Corrections
5.1 From this review of the petty cash and cash float accounts, the following changes and
corrections have been made.
a) The Financial Services Department cash float held for the purpose of making change
had an incorrect general ledger balance. This was due to an entry error made when the
cash float was increased in February 2020. This was corrected on December 9, 2020.
b) The 55+ Active Adult cash float was over by $93.75 as it included revenues from a pre-
COVID event. The revenue remained in the cash drawer for at least nine months. The
revenue should have been deposited in a timely manner. It was subsequently deposited
in December 2020 and recorded as revenue.
Municipality of Clarington Page 5
Report IAS-001-21
5.2 Further corrections that should be made as soon as possible are as follows.
a) During the audit, Animal Services staff spoke of a cash float of $125 held for trap
rentals. There is no general ledger account set up for the fund. To rent a trap there is a
$40.00 deposit which is returned when the trap is returned. There is a $5/day trap rental
fee. The cash float for trap rentals amount should be added to the animal services cash
float general ledger account.
b) Community Services has a petty cash account of $300. Through the audit it was
discovered that it is being used as a cash float and petty cash combined. This is not
appropriate. There should be two separate accounts with a physical separation between
the money. It is recommended that the funds be divided so that there is a $100 cash
float used for daily transactions and a $200 petty cash for minor expenses.
6. Missing Cash Float
6.1 The Tourism cash float was not located. As per the general ledger account there should
be a $100 cash float. The general ledger account has been reassigned with department
moves and account number changes.
6.2 In 2005, the cash float was initially $50 and increased in June 2005 to $100. Tourism
and Communications account numbers were combined (100-16-161-) up to mid-2016
when the new sub department numbers were created to separate Communications (sub
dept 170) and Tourism Services (sub dept 171). The petty cash float account for
Communications and Tourism was transferred to the Tourism sub -department. As well
in 2016, both Communications and Tourism moved from Corporate Services to the CAO
office. The Corporate Communications Manager (started July 2014) and the Tourism
Coordinator (started February 2016) were not aware of any cash float. As well, a
Financial Services staff member who had worked at the Tourism offices had never seen
a cash float.
6.3 Over the years, Tourism Services have run several events. It is quite possible that the
cash float was returned in the past but not recorded properly. After an event the
revenues would have been deposited in a cash receipt and the cash float may have
been inadvertently included in the revenue figures. At this point, there is no way to tell
what has happened to the cash float. This clearly demonstrates the requirement for
mandatory periodic checks of cash floats by supervisors and management throughout
the year. It is recommended that the cash float of $100 should be written off effective
December 31, 2020.
7. Observations
a) The Customer Service desk had an envelope with $200 in cash with some hand-written
reference. The envelope was left on the front doorstep of townhall in the spring of 2020.
The Customer Service desk made some initial enquiries without success; however, the
envelope was left in the cash box. This should have been forwarded to Financial
Municipality of Clarington
Report IAS-001-21
Page 6
Services in a timely manner. This cash was recorded as miscellaneous revenue as it
was untraceable.
b) The CAO cash float contained an envelope with an employee's name that was assumed
to be a High Five Reward redemption, as well as an unidentified gift card was in the
cash box. Any gift card left in a cash box should be clearly identified. This audit does not
review the use of gift cards.
c) Some of the petty cash and cash float accounts had some minor variances. Those that
are out one or two cents can be attributed to penny rounding on cash transactions;
however, some of the accounts had a larger variance. It is important the staff
understand that any overages and shortages should be accounted for each time the
petty cash is replenished or when the daily balancing of the cash receipts is done.
When the daily balancing of the day's transactions is completed one of the steps is to
ensure that the fixed cash float remains in the cash drawer. While there is a policy for
petty cash, there is not policy on cash handling.
d) The Legal Services petty cash that included receipts from 2019 that had not been
submitted in 2019. While not significant or material it is important to replenish the petty
cash in a timely manner. As per the Petty Cash policy, the fund should be checked and
replenished at least quarterly. Due to the lack of transactions in 2020, it is
recommended that this petty cash account be eliminated and returned to Financial
Services.
e) It was observed that a common petty cash transaction was the reimbursement of
employee sick notes. These transactions are processed through a Human Resources
general ledger account. With the 2020 change of processing employee expenses
through the payroll system, it was recommended that the sick note reimbursement be
processed by and through payroll. This is now in place. Once the sick note is provided
to the appropriate department, the reimbursement is processed by the payroll
department.
f) In the Fire Services petty cash, an employee was reimbursed for the purchase of cables
for video equipment. The receipt shows the cables delivered to a home address. All
shipment of goods must be delivered to a corporate address. While there may be some
savings from an employee using a personal Amazon Prime account, it is important to
follow best practices for procuring goods.
g) There was a wide range of storing and securing cash drawers and cash boxes. The
large recreation facilities all have a larger safe to secure valuables overnight and locked
drawers during operational hours. There are walk-in vaults in Financial Services and the
former Clerks department. Consideration should be given to the security of cash
drawers and cash boxes. The drawer/box itself should be locked and then this should
be locked up overnight. Future renovations of customer service areas must factor in the
physical security of cash during both open and closed hours.
Municipality of Clarington Page 7
Report IAS-001-21
8. Recommendations and Best Practices
a) The Tourism cash float be written off effective December 31, 2021.
b) The Community Services petty cash fund be divided into a $200 petty cash fund and a
new general ledger account set up for a $100 cash float. A separate cash box be set up
for the petty cash. Both cash box and cash drawer should always be kept locked and
secure.
c) The general ledger for the Animal Services cash float be corrected to include the trap
rental float. A note should be added to the general ledger account card on what is
included in the balance. The trap rental cash float should be kept clearly separated from
the regular cash float in a secure location.
d) All custodians and their supervisors must read the Petty Cash policy G12. Each
custodian should sign a Petty Cash Custodian agreement. A proposed agreement is
included as attachment 4. The appropriate supervisor should sign the form as well. The
supervisor and custodian should retain a copy of the signed agreement. A copy should
also be kept on file in the Financial Services department.
e) As per the Petty Cash policy, supervisors are required to do a spot check on the petty
cash at least twice per year. It was difficult to ascertain if this is being done as there was
no documentation of the spot check. There should be a log kept with the Department
Head that documents all the verification of the petty cash fund.
f) Financial Services staff conduct an annual check of the petty cash funds. The counts
should be random and does not need to be conducted all at the same time. Employees
must give access to the fund and will observe while the Financial Services staff count
the fund. These counts can be recorded on the same log kept by the department.
g) The Financial Services Accounting Clerk I who is responsible for reconciling petty cash
and cash float accounts sends out quarterly reminders to balance and replenish petty
cash accounts. All cheque requisitions are now filed electronically through SharePoint.
The system does allow for zero -dollar cheque requisitions so an end of year petty cash
replenishment should be completed even if there are no receipts. The Financial
Services Accounting Clerk I should verify the end of year form has been submitted.
h) Similarly, there should be semi-annual checks of the cash floats by the supervisors and
an annual check of the cash floats by Financial Services staff. The counts should be
random and do not need to be conducted all at the same time. Employees must give
access to the fund and will observe while the Financial Services staff count the fund.
There should be a log kept with the Department Head that documents all the verification
of the funds.
Municipality of Clarington
Report IAS-001-21
Page 8
i) Department Heads should review the requirement and limits of their petty cash fund
annually. With the increased use of purchasing cards, the petty cash funds may be used
less frequently.
j) A cash handling policy be developed that is applicable to all cash drawers and daily
balancing. A cash handling report would provide procedures to be followed regarding
the following: handling cash receipts, preparing daily balancing cash deposits and daily
reconciliations. This policy would inform staff on the importance for implementing
segregation of duties and of the completeness of cash receipts in all municipal systems
as well as the effective and timely preparation of deposits for bank reconciliation. Some
departments already have some policy or procedures for cash receipts and cash
handling specific to their business and software. They should be reviewed and can
complement a new cash handling policy.
9. Conclusionon
9.1 While the petty cash and cash floats do not represent large dollar amounts, it is
imperative to maintain controls to ensure proper use of the funds and security of the
Municipality's assets. Cash funds are particularly vulnerable to errors, misuse and theft.
Overall, staff understand the importance of securing the cash funds. Following through
on the periodic counts of the funds will ensure that issues are accounted for in a timelier
manner. As well, the knowledge that there will be periodic checks provides the
assurance that staff are adhering to the policies and procedures.
Staff Contact: Catherine Carr, Internal Audit Manager 905-623-3379 ext. 2606 or
ccarr@clarington.net.
Attachments:
Attachment 1
— Corporate Policy G12 — Petty Cash
Attachment 2
— Petty cash audit results
Attachment 3
— Cash float audit results
Attachment 4
— Proposed custodian agreement form
Corporate Policy
Attachment 1 to IAS-001-21
ciff;W4017
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POLICY TYPE:
POLICY TITLE:
POLICY #:
POLICY APPROVED BY:
EFFECTIVE DATE:
REVISED:
APPLICABLE TO:
1. Purpose:
Financial
Petty Cash
G12
Chief Administrative Officer
February 27, 2018
February 27, 2018
All Employees
To formalize the petty cash policies and procedures relating to the
administration of petty cash funds.
2. Policies:
Departments may establish a petty cash fund to pay for minor expenses.
Wherever possible staff should use their Purchasing Card (PCard) instead of
petty cash.
One employee in the department (such as the Administrative Assistant) will be
the custodian of the fund. The custodian is responsible for the petty cash.
The petty cash fund should be kept in a secured location such as a locked
drawer, cabinet or safe where access is restricted to the custodian and not
easily accessible.
The supervisor should verify the petty cash funds at least twice a year to
ensure that the cash on hand plus the receipts equal the approved petty cash
amount. This process should be documented by signing a simple form noting
the date of verification and any problems
The Department Head and the Manager of Internal Auditor must be notified
immediately in the case of missing and stolen funds.
3. Establishing, Changing or Cancelling a Petty Cash Fund
Establishing
The request for a new petty cash fund requires the authorization of the
Department Head. A cheque requisition form (available on the intranet) must
be completed. The Department Head must authorized the cheque requisition.
The form must include an explanation for the need of the petty cash account.
Finance staff will assign an account number for a new petty cash account
G12 — Petty Cash Page 1 of 3
Corporate Policy
ciff;W4011
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(object code 1003). The form should include who will be the custodian of the
petty cash. The custodian must acknowledge that they have read and are
familiar with this policy. A cheque will be issued as "Petty Cash -Custodian's
name." The custodian will then go to the bank to cash the cheque.
Changing
To increase a petty cash fund, the department should complete a cheque
requisition form (available on the intranet) with the amount of the requested
increase. The form should be authorized by the Department Head with an
explanation for the reason for the increase. The account number would be the
same as the existing petty cash account. The custodian of the petty cash
should be confirmed on the form. A cheque will be issued as "Petty Cash -
Custodian's name." The custodian will then go to the bank to cash the cheque.
To decrease a petty cash the custodian should complete a cash receipt/deposit
slip with a description of the decrease of the petty cash. This is NOT posted to
a revenue account. It is posted to the same petty cash account to record the
decrease to the petty cash.
Cancelling
When a petty cash fund is being closed, the petty cash must be balanced and
any expenses will be charged to the appropriate departmental expense
accounts. The remainder of the petty cash funds would be recorded on a cash
receipt and posted to the petty cash account.
If the petty cash that is no longer required and there have been no
disbursements, the custodian would complete a cash receipt for the return of
the petty cash noting that it is no longer required. This is NOT posted to a
revenue account. It is posted to the same petty cash account to record the
return to the petty cash fund.
3. Procedures:
Petty cash should be used for minor departmental expenses. A receipt must
be given to the custodian in order to be reimbursed. The receipt should have
the receipt date, vendor's HST number (if applicable) and a description of what
was purchased. If this is not clear the custodian should record details on the
receipt. The petty cash and cheque requisition forms can be found on the
Municipality's intranet website.
Petty cash cannot be used for the following.
x Alcoholic beverages or tobacco
x Parking fines, road tolls, mileage
x Fuel such as gasoline, propane
G12 — Petty Cash Page 2 of 3
Corporate Policy
ciff;W4011
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x Donations
x Hazardous materials / Chemicals
x Advertising
x Telephone/Cell phones
x Professional services
x Seminars, workshops, memberships
x IOUs
The custodian of the fund will replenish the petty cash when the funds become
low. The petty cash must be reconciled at least quarterly. The petty cash
must be reconciled as of December 31 st to account for the end of the fiscal
year. The custodian is responsible for ensuring the cash on hand and receipts
equal the authorized amount of the fund at all times. The custodian will use the
petty cash form and follow the instructions shown on the top of the form. All
receipts must be attached to the petty cash form and approved with the
supervisor signature. Any penny rounding differences are posted to the Cash
Over/Short account.
The custodian will complete a cheque requisition form for the amount needed
to replenish the petty cash fund. The supervisor signature is required as
authorization.
The cheque requisition form, petty cash form and the supporting receipts are to
be sent all together to the Purchasing Department. The Purchasing
Department will then forward the documents to Accounts Payable for
processing. A cheque payable to "Petty Cash -Custodian's name" will be
issued in the weekly cheque run. The custodian will then go to the bank to
cash the cheque to replenish petty cash fund.
G12 — Petty Cash Page 3 of 3
Attachment 2 to IAS-001-21
Cash
Account Number
AccountPetty
Times
Replenished in
.
Comments
Location
Balance
Count
2020
of Replenishment
Mayor
100-10-100-00000-1003
$ 125.00
$ 155.02
3
$ 122.21
Council
100-10-105-00000-1003
$ 200.00
$ 198.76
2
$ 66.25
An unknown gift card in the cash box and another
Administration
100-13-130-00000-1003
$ 250.00
$ 236.56
1
$ 68.95
envelope assumed to be a High Five Redemption gift
card.
Legal
100-14-130-00000-1003
$ 300.00
$ 307.15
1
$ 65.00
Contained receipts for 2019 not submitted for 2019
year end. Submitted in December 2020.
Corporate Services
100-16-130-00000-1003
$ 200.00
$ 200.70
1
$ 77.95
Clerks
100-19-130-00000-1003
$ 125.00
$ 130.08
1
$ 127.40
Animal Services
100-19-190-00000-1003
$ 50.00
$ 64.40
2
$ 65.59
MLE
100-19-191-00000-1003
$ 100.00
$ 99.98
3
$ 80.45
Difference due to penny rounding.
Finance
100-21-130-00000-1003
$ 200.00
$ 199.99
1
$ 99.09
Difference due to penny rounding.
Fire Station #1
100-28-130-00000-1003
$ 200.00
$ 199.51
2
$ 102.18
Engineering
100-32-130-00000-1003
$ 120.00
$ 120.25
3
$ 72.87
Building Inspection
100-32-321-00000-1003
$ 100.00
$ 100.00
1
$ 77.95
Petty cash and Building Inspection/Engineering cash
float were combined in the same cash box.
Community Services
100-42-130-00000-1003
$ 300.00
$ 306.64
2
$ 68.36
Petty cash is also used as a cash float.
Planning
100-50-130-00000-1003
$ 200.00
$ 205.20
1
$ 85.39
Attachment 3 to IAS-001-21
FloatCash
.-Changes
Account
Audit
Balance
Count
Envelope with $200 cash left at front doors in the spring and
Customer Service Desk
100-13-170-00000-1002
$ 100.00
$ 100.00
N/A
left in Customer Service cash box for over 6 months.
Enquiries made initially but envelope left in cash box for 6+
Tourism
100-13-171-10155-1002
$ 100.00
cash float
found
N/A
Float not found. Through inquiries it appears this cash float
not -
does not exist
has not existed for several years.
Clerks
100-19-130-00000-1002
$ 300.00
$ 300.00
N/A
This amount is divided between two cash drawers.
Animal Services
100-19-190-00000-1002
$ 170.00
$ 254.65
N/A
Includeds a Trap Rental float of $125 that was not recorded
in the general ledger account.
Municipal Law Enforcement
100-19-191-00000-1002
$ 200.00
$ 200.00
N/A
Finance- Tax Counter
100-21-130-00000-1002
$ 600.00
$ 600.00
N/A
This amount is divided between four cash drawers.
Increased from $750 to
Error in previous journal entry. GL account should be
Finance- Accounting Services Float
100-21-210-00000-1002
$ 966.85
$ 1,000.30
$1,000 in February 2020.
$1,000. The purpose of this fund is to make change for
other departments.
Fire Station #1
100-28-130-00000-1002
$ 100.00
$ 101.75
N/A
Emergency Bunker
100-28-286-00000-1002
$ 500.00
$ 500.00
N/A
This Cash Float was shared by Engineering and Building
Engineering- Building Inspection
100-32-321-00000-1002
$ 100.00
$ 89.42
Returned 17-DEC-20
Inspection. Cash Float and Building Inspection Petty Cash
were combined.
Operations
100-36-130-00000-1002
$ 150.00
$ 154.85
N/A
Diane Hamre Recreation Complex
100-42-421-10128-1002
$ 700.00
$ 700.00
N/A
All drawers balance to what they say there should be in
Courtice Community Complex
100-42-421-10129-1002
$ 675.00
$ 650.00
N/A
there. They verify the total cash in the drawer to the cards
in the drawers outlining the amount that should be there.
South Courtice Arena- Admin
100-42-421-10130-1002
$ 400.00
$ 400.00
N/A
Darlington Sports Centre - Skating
100-42-421-10131-1002
$ 100.00
$ 100.00
Returned 14-DEC-20
Not verified by audit but verified by Finance Clerk when
returned.
Rickard Recreation Complex
100-42-421-10132-1002
$ 500.00
$ 500.00
N/A
Alan Strike Centre
100-42-421-10133-1002
$ 500.00
$ 500.00
Returned 13-JAN-20.
Outdoor Pool & Skate Park
100-42-424-00000-1002
$ 150.00
$ 150.40
Reissued 22-JUL-20 and
returned 14-DEC-20.
Revenue from an event pre-COVID was left in the cash
55+ Active Adult (CCC)
100-42-428-00000-1002
$ 50.00
$ 143.75
N/A
float. This was corrected in December and included in a
deposit to 100-42-428-10624-6524 55+ ACTIVE Adults -
coffee Kiosk Sales.
Planning
100-50-130-00000-1002
$ 50.00
$ 50.00
N/A
Attachment 4 to IAS-001-21
Uadiwmn
Petty Cash Custodian Agreement
Department
Custodian
Amount
GL Account
As Custodian, I understand that I am responsible for the security and maintenance of
this petty cash fund according to the Petty Cash Policy G12. This includes the following.
1. The petty cash fund will be locked in a secure place at all times.
2. All disbursements from the fund must have proper back-up and supporting
vouchers/receipts.
3. All disbursements will be appropriate and comply with Clarington policies.
4. At all times the total of the receipts plus cash must equal the fund balance.
5. To replenish the fund, a cheque requisition form will be completed and include all
supporting receipts, account coding and proper signatures.
6. Any overages or shortages must be reported promptly at each time fund is
replenished.
7. The reimbursement will be in the form of a cheque payable to the Custodian's
name — Petty Cash. Petty Cash replenishment cheques are issued during the
normal cheque run.
8. The Custodian may not delegate responsibility for the fund.
9. If the Petty Cash is no longer required it will be returned to Finance promptly.
10.1 have read the Petty Cash Policy G12.
I agree to accept responsibility for the petty cash fund according to the above
conditions.
Custodian Signature
Date
Supervisor Signature
Page 2