COUNTY OF ALBEMARLE

 

                                                                    EXECUTIVE SUMMARY

 

 

 

AGENDA TITLE:  

Petty Cash Resolution

 

 

SUBJECT/PROPOSAL/REQUEST:

Adopt Resolution establishing petty cash funds

 

 

 

STAFF CONTACT(S):

Messrs. Tucker, Breeden, Wiggans; Ms. White

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:                      

July 7, 2004

 

ACTION:                                  INFORMATION:

 

 

CONSENT AGENDA:         

     ACTION:    X                      INFORMATION:

 

 

ATTACHMENTS:      Yes

 

 

REVIEWED BY:

 

 

DISCUSSION:

Virginia Code Section 15.2-1229, provides that the County may establish, by resolution, petty cash funds not to exceed $5,000 each to be used to transact its daily County business.    A petty cash fund allows for department flexibility when purchasing small items or providing change to customers when cash is remitted for taxes, fees, copies, publications, etc.  These funds are subject to annual audit.  The County’s auditors have determined that a formal resolution must be adopted by the Board to comply with the Code section. 

 

 

RECOMMENDATION:

Staff recommends the Board adopt the attached Resolution formally establishing petty cash funds and limits for the departments identified in the Resolution.

 

View attached resolution

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