Petty Cash Policy

By /

YATES BAPTIST CHURCH

PETTY CASH POLICY

Reviewed (not yet adopted) February 27, 2024

PURPOSE

From time to time the church is required to make cash purchases. This policy establishes the guidelines under which such purchases are to be conducted.

POLICY

To establish a petty cash station and to safeguard the station by establishing and implementing appropriate guidelines.

PROCEDURE

  1. A petty cash fund in the amount of three hundred dollars ($300) will be made available for the purchase of miscellaneous office materials, services, or small crisis/benevolent requests.
  2. Custody of the petty cash fund will be overseen by the Ministry Assistant, Congregation & Staff, and shall be stored in the secure finance closet in the church office.
  3. Individual withdrawals from the fund will not exceed fifty dollars ($50) per voucher.
  4. Each expenditure from the fund must be accompanied by a proper receipt or voucher.
  5. Receipts and vouchers will be kept with the petty cash fund.
  6. The petty cash fund will be replenished when the balance in the fund falls below fifty dollars ($50).
  7. The petty cash fund will be reconciled on a quarterly basis by the bookkeeper in the presence of the custodian of the fund.
  8. Periodically and without notice, the petty cash fund may be reconciled by the Pastor and/or Treasurer in the presence of both the bookkeeper and the custodian of the fund.
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