ST. LOUIS BOARD OF EDUCATION REGULATION
BUSINESS AND NON-INSTRUCTIONAL OPERATIONS

EXPENDITURES

Fiscal Control Procedures

Disbursement of Money -- Revolving Expense Funds

There may exist in each school and departmental office, a revolving expense fund drawn from budgeted accounts from which cash purchases not exceeding a preauthorized amount may be made.

Whenever a cash payment is made, an authenticated receipt from the vendor is to be signed by the appropriate administrator. An up-to-date file of these receipts must be maintained. Reimbursement to each revolving expense fund shall be made from time to time after examination by the fiscal control officer.

Each revolving expense fund shall be closed to the fiscal control office of the board before the end of each fiscal year.

Regulation approved: June 26, 1990

Revised: February 9, 1999