COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Petty Cash Resolution

 

 

SUBJECT/PROPOSAL/REQUEST:

Adopt a revised Petty Cash Resolution which increases the Community Development Department Petty Cash Fund from $50 to $100 and the Finance Department Petty Cash Fund from $3,350 to $4,350

 

 

STAFF CONTACT(S):

Messrs. Tucker, Foley, Davis, Wiggans, Koonce, and Ms. Welcher

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

June 6, 2007

 

ACTION:                               INFORMATION:   

 

CONSENT AGENDA:

     ACTION:   X                    INFORMATION:   

 

 

ATTACHMENTS:   Yes

 

 

 

 

REVIEWED BY:

 

 

BACKGROUND:

Virginia Code Section 15.2-1229, provides that the County may adopt a resolution to establish petty cash funds not exceeding $5,000 each to be used to transact daily County business.

 

 

STRATEGIC PLAN:

Goal 5:  Fund the County’s Future Needs

 

 

DISCUSSION:

The Board of Supervisors last established petty cash funds by Resolution on June 7, 2006.  Staff recommends adoption of a new Resolution to authorize an increase in the Community Development Department petty cash fund from $50 to $100 and the Finance Department petty cash fund from $3,350 to $4,350.  The increase in the Community Development petty cash fund is necessary due to the continued high volume of business directed at the Community Development Department.  The increase in the Finance Department petty cash fund is necessary for the Revenue and Taxation Division.  During tax season (the two weeks prior to the June 5th and December 5th tax deadlines), the Division experiences a need for additional petty cash to make change for taxpayers when they pay their bills.  Historically, if petty cash is running low, Division staff members will go to the bank and bring back cash for the Division to use.  This is obviously not the best way to operate from a security standpoint for both County employees and County funds.  It addition, it pulls Division staff away from the building during the busiest time of the year.

 

Starting May 21st, Loomis Armored US, Inc. began providing armored car service to transport funds collected by the County during the day to the bank.  In addition, Loomis will be bringing, as needed, cash to the County.  This means that General Services and Finance employees will no longer have to transport large amounts of money to and from the bank.  By increasing the petty cash amount for Finance, staff can now plan to have Loomis provide, on a daily basis, sufficient funds to handle petty cash needs during tax season.

 

BUDGET IMPACT:

There is no budget impact from this action.

 

 

RECOMMENDATIONS:

Staff recommends that the Board adopt the attached Resolution to increase the Community Development petty cash fund from $50 to $100 and the Finance petty cash fund from $3,350 to $4,350 and reestablish the existing petty cash funds.

 

 

ATTACHMENTS

A – Resolution – Petty Cash

Return to consent agenda

Return to regular agenda