Policies & Procedures

Statement of the Policy

The Board of Trustees authorizes the Treasurer of the College to establish and maintain petty cash funds, not in excess of two hundred ($200.00) dollars each in accordance with Local Law No. 8, 1990 legislation.

The Treasurer of the College shall present lists of all expenditures made from such petty cash funds to the Finance and Facilities Committee of the Board of Trustees at each regular meeting thereof, together with the bills supporting such expenditures.

The Finance and Facilities Committee of the Board, upon recommendation of the Treasurer, shall direct reimbursement of such petty cash funds from the appropriate budgetary item or items in an amount equal to the total of such bills which the Committee shall so audit and allow.

The Treasurer shall have the authority to direct reimbursements of such petty cash funds during the periods between regular meetings of the Finance and Facilities Committee of the Board of Trustees.

Action