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DJB Imprest Account and District Charge Cards

Adopted: February 7, 1989
Amended: May 13, 2003, February 14, 2006, June 20, 2011

Policy

The Board believes in providing school and department management with flexibility in the purchasing of goods requiring rapid turnaround.

Guidelines

  1. The Imprest Account and charge cards are intended to accommodate purchases in a range to $1000.00.
  2. Any consistent or significant abuse of this Policy may result in the withdrawal of authority to manage this process.  The Associate Superintendent, Business & Finance shall discuss this with the principal/department management.

 

Procedures

General Concept

  1. A separate commercial bank account will be established at the District Banker, Fort McMurray, for each authorized facility in amounts as follows:
    • Elementary (K-8) schools                    $  8,000.00
    • Junior/Senior High Schools                  $10,000.00
  2. Each facility may utilize a combination of cash, cheque and charge card as follows:
    • In order to provide instant cash reimbursement for minor purchases - not to exceed $50.00 per item purchased – a cash balance of not greater than $500.00 may be retained in each facility.
    • In order to provide payment for purchases in the $50.00 to $1000.00 range and to replenish the Petty Cash identified above, each facility is provided a supply of cheques.
  3. Each principal or Department Head will establish via District Office the names(s) and signature(s) of each authorized signing officer (s) using standard bank signature cards. This procedure will be performed each year at the beginning of the school year.
  4. Charge cards will be limited to Principal, Vice-Principal, Business Secretary, Manager, and on approval of the Associate Superintendent Business & Finance, other department staff.

Specific Procedures – Schools

  1. Cash
    • In keeping with Policy DMA – Protection of Valuables in Schools, the maximum amount of cash retained in a school for minor purchases should not exceed $500.00.
    • The use of Petty Cash Vouchers are required as a means of maintaining internal control features which are not normally available when cash is the method of payment.
    • Replenishment of the cash balance on hand should be undertaken when the fund has been depleted to approximately $50.00
    • The method used for cash replenishment will be as follows:
    1. Report all disbursements on the Petty Cash Reimbursement Form outlining date, voucher number, description, account number and amount.
    2. Attach all receipts, paid invoices, cash register tapes, etc. as support for the total amount of the replenishment.
    3. Write an imprest Fund cheque payable to: Account Custodian’s name – Petty Cash.
    4. Attach the Reimbursement Form together with all support information to the file copy of the Imprest Fund cheque.
  2. Cheques
    With the exception of Petty Cash Reimbursement outlined previously, the following represents the cheque issuing process:
    • When a purchasing requirement (which falls within the range of the Imprest Account Policy) has been identified, the principal/Supervisor in his/her capacity as the school/Department Manager, will determine the appropriateness of the request and has the authority to approve or reject as deemed necessary.
    • Upon approval, the principal,/Supervisor (or designate) will sign the Imprest cheque on and outline the parameters of the Policy/ Procedures to the individual making the purchase.
    • After the purchase is made, the paid invoice, sales receipt, register tape, or etc. will be attached to the file copy of the cheque and filed in cheque number sequence. This set will be held until replenishment is required.
    • When the individual Imprest Account balance, as determined by the running balance identified on the Reimbursement Form, has been reduced to approximately 20% of the fund total or semi-annually – December and June, whichever comes first, the Imprest Account Reimbursement Claim Form will be completed and directed to the Finance Department – District Office, for account replenishment. A copy should be retained for follow-up purposes.
    • Upon receipt of the Reimbursement Form, the Finance Department – District Office will perform an internal audit control check and will cause a bank transfer to be performed in the value of the total amount of cheques issued, if the submission is accounted for correctly.
    • At the end of each school year, all cash on hand and the final Imprest Account Reimbursement Form will be submitted to the Finance Department - District Office, no later than the last teaching day in June.
  3. Reconciliations
    • Each school/Department is required to perform monthly bank charge card reconciliation, using bank statements provided by the District Banker. These reconciliations will be submitted to the Finance Department – District Office within two weeks of receipt of bank statement.

Specific Procedures – Central Office

  1. Upon receipt of the Imprest Account Reimbursement Request Forms, the Accounting Department will perform an internal control check verifying mathematical accuracy, account distribution, supporting documentation, supporting documentation and whatever other check is deemed necessary in the circumstances.
  2. Bank charge card reconciliations will be verified for accuracy by the Accounting Department.
  3. Periodic Internal Audits will be performed on the Imprest, petty cash and charge accounts.
  4. Any misuse, abuse and/or late reconciliations may result in the immediate cancellation of an account and recall of funds, card and/or unused cheques, subject to appeal to the Superintendent.

 

References

Legal Reference: School Act 60(2)(d), 60(2)(k), 61
Cross Reference:

DJ Purchasing

DMA Protection of Valuables in Schools

GDO Ethics and Business Conduct

GBCC Conflict of Interest

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