Title
Approval of a Resolution Regarding Petty Cash and Change Funds
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the resolution concerning petty cash and change funds.
Report
Issue:
Whether to authorize the establishment of a petty cash fund titled “Fleet” and reduce the authorized amount in the “Finance Office” petty cash fund.
Staff Contact:
Stacie Tellers, Acting Accounting Supervisor, Administrative Services, 360.753.8599
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
Currently the Finance Office has authorization for a petty cash fund. Petty cash funds are used by departments for small purchases by staff that do not have a City credit card or for payment to vendors that do not accept credit card payments. The $570 Finance Office petty cash fund is currently authorized however it is mostly being utilized for Fleet titling fees.
The Fleet department currently uses the Finance Office’s petty cash for cash payments to the Thurston County Auditor’s Office for registration and titling fees upon receipt of new fleet vehicles. This usage creates additional steps in Fleet’s titling process. Fleet currently does not have authorization for its own Petty Cash fund.
Therefore, the Finance Office requests reducing the Finance Office’s petty cash from $570 to $370, providing the Fleet department with an authorized $200 petty cash fund.
The State Auditor recommends that the Council authorizes each petty cash fund and any changes thereto.
Neighborhood/Community Interests (if known):
None. This is an administrative amendment.
Options:
1. Approve the resolution which will reduce the Finance Office petty cash fund from $570 to $370 and will authorize Fleet a $200 petty cash fund.
2. Do not approve the resolution. No changes in petty cash.
Financial Impact:
Minimal, the Finance Office would hold a petty cash fund that exceeds their department needs and reduces the operational efficiencies in Fleet.
Attachments:
Resolution