03-a-016 - Imprest Fund Procedures, Petty Cash Procedures and Forms (April 10, 2003)

DATE:	April 10, 2003
SUBJECT:	Imprest Fund Procedures, Petty Cash Procedures and Forms
EFFECTIVE DATE:	Immediately
A & R CONTACT:	Imprest Fund Questions:
	Gail Barnhart	(785) 296-7217	(gail.barnhart@da.state.ks.us)
	IRS 1099 Questions:
	Don Beck	(785) 296-7291	(don.beck@da.state.ks.us)
	Petty Cash Questions:
	Shirley Gilchrist	(785) 296-2882	(shirley.gilchrist@da.state.ks.us)
APPROVAL:
SUMMARY:	Revised Petty Cash Policy and Procedure Manual File 10,752 and Imprest Fund Policy and Procedure Manual File 10,802

Policy and Procedure Manual Files 10,752 and 10,802 have been revised as follows:

Agencies that process any IRS 1099 reportable payment from a petty cash fund or imprest fund are responsible for submitting a SOKI³⁺ journal voucher to record the expenditure against the correct vendor record. The payment voucher should list the journal voucher number in the description with the statement "for 1099 purposes". An example is included in the revised PPM's. The new Journal Voucher Module Users' Guide located in the help section of SOKI³⁺ gives additional guidance on IRS 1099 reporting.

Please contact Don Beck to ensure that any reporting exemptions your agency may previously have been granted are still valid based on the current IRS reporting requirements.

In addition, Petty Cash Policy and Procedure Manual File 10,752 has the following form revisions:

1. The agency may use a Petty Cash Fund Log (DA-78) instead of multi-part disbursement forms. The DA-78 form is located at www.da.ks.gov/ar/forms.
2. Petty Cash Fund Maintenance (DA-71, formerly titled Application for Petty Cash Fund) has been revised so that the type of adjustment being made to the fund is more clear.

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