CHAPTER 98

(HB 1078)

Petty cash accounts, the amount of money
that school boards can keep in these accounts increased.

         ENTITLED, An Act to  increase the amount of money that school boards can keep in petty cash accounts.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  That § 13-18-16 be amended to read as follows:

     13-18-16.   Nothing in §   13-18-1 or 13-18-2 prohibits the establishment of a petty cash account. Moneys in such an account shall be set aside on an imprest basis from the fund of ownership upon presentation of a voucher by the business manager and approval by the board. Moneys set aside in the account may not exceed a maximum of one hundred dollars. The school board shall determine the amount of money set aside in the account up to a maximum of one thousand dollars. The school board shall prescribe policies and procedures governing the stewardship of such account. An employee shall be designated to be accountable for the petty cash account and shall keep accurate records of all receipts, expenditures, and balances of the account. Unless required by the school board, disbursements from the petty cash account may neither require approval by the board nor signature of the presiding officer of the board or business manager.

     Signed February 26, 2003.

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