OFFICIALS of Muharraq Municipality have been accused of squandering petty cash funds on baklava, chocolates, cakes and flowers.
In a statement issued by the council yesterday, Mr Al Murbati said petty cash funds were allocated by the government to cover necessary expenditure such as stationary, printer ink cartridges and payments made for simple maintenance work.
ORF are funds used for official events, and petty cash funds
are used in the daily duties of maintaining the household.
If many departments are holding on to petty cash funds
, the aggregate amount can be large enough to warrant more sophisticated handling.
There is no provision in petty cash funds
for buying food.
Authorizations for expenditure of petty cash funds
(Are dual controls in effect?
Demand deposits (checking, savings and money market accounts), petty cash funds
and such negotiable items as travelers' checks, cashiers checks, bank drafts and money orders are also cash.
Along with missing Medicaid money, about $3,000 a month had disappeared from petty cash funds
Whether it's handling invoices without POs, invoice discrepancies, unclaimed checks, wire transfers, p-card disputes, master vendor file issues, petty cash funds
, or 1099 forms, this guide can help you respond and build a coherent set of policies.