2600 Petty Cash Working Fund

Policy Type: 
Finances

The Henry Ford College Business Office is authorized to maintain petty cash working funds.

A. Payments from Petty Cash shall be restricted to:

  1. Tuition refunds for Henry Ford College.

  2. Orders of less than $100.00.

  3. Reimbursement of working funds.

  4. Travel advances and expenses.

  5. Workers' Compensation payments, including hospital, medical, and doctors' bills relating thereto.

  6. Referee Fees.

  7. Payments for professional speakers and consultants.

  8. Payments for small specialty items when the store or company refuses to take a purchase order.

  9. Financial aid payments (loans, scholarships, grants) to qualified students.

B. Petty Cash reimbursements shall be made monthly from the General Fund except for tuition refunds for which reimbursement may be requested as often as necessary in peak periods.

Sufficient funds may be advanced to the Henry Ford College petty cash fund at the beginning of each semester for the sole purpose of making tuition refunds.

Adopted Date: 
Monday, February 20, 1995
Revised Date: 
Thursday, June 25, 2015
Private: 
Public
Status: 
Board Approved