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Purpose

This SMSC Policy defines approved procedures for the reimbursement of minor expenses through a petty cash account.

Policy Basis

Motions of the SMSC Board of Directors, recorded in minutes of meetings (May 18, 2011).

Operational Authority

1.    The Treasurer is responsible for the execution of the procedures described herein.

Bar Float

2.    It is forbidden to use the bar float for Petty Cash expenditures when a Petty Cash Box is operational.
3.    Purchase of bar consumables (e.g.: pizza) for resale by the bar is acceptable use of the bar float and is outside the Petty Cash policy.

Petty Cash Box

4.    A Petty Cash Box will be maintained separately from the bar till.
5.    The petty cash Box is under the day-to-day control of the Club Manager, or in absence of one, the Treasurer.

Petty Cash Limit

6.    Use of Petty Cash is limited to purchases of $10.00 or less, tax included.
7.    Order-splitting is forbidden; i.e., an individual may not submit a group of receipts from a single supplier where each is less than the Petty Cash Limit, but the collective total exceeds the Petty Cash Limit

Authorized Petty Cash Users

8.    To draw upon Petty Cash, a user must have the prior approval of the Director responsible for the budget area supported by the proposed expenditure.
9.    A list of approved Petty Cash users will be maintained with the petty cash box.

Petty Cash Payments

10.    Payments to individuals will only be made against receipts.
11.    Multiple receipts may collected together under cover of a SMSC claim form, although care is required to avoid order-splitting.

Review of Petty Cash payments

12.    The SMSC Director responsible for the budget area related to any Petty cash activity must review petty cash payments made against his or her budget on a monthly basis.
13.    Use of Petty Cash in contravention of this policy may result in a user’s deletion from the approved Petty cash users list.

Policy approved by SMSC BOD May 18, 2011