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Tips & Techniques

Petty Cash

Why Is This Important?

Manager's who spend their own money for incidentals to cover expenses are usually not fully reimbursed by the park. This happens because they forget to put something on the expense report or lose a receipt. Over time, these expenses add-up and it can create some animosity or bad feelings for the park manager if allowed to continue.

What Does Success Look Like?

Success here means the manager spends from petty cash funded by the park and meticulously saves all the receipts. The fund is used sparingly, just for incidentals and perhaps the total spend is a $100 a month. When the balance gets down to $100, a petty cash reconciliation form is completed and submitted to the off-site manager with copies of all the receipts. Note, purchases of office supplies, yard supplies, hardware items, etc, are approved in advance and purchased on Amazon or paid by account or credit card.

Key Success Objectives
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  • Setup a petty cash fund with the offsite manager and maintain a minimum balance of $100

  • File a reconciliation report when necessary (make certain the ending balance on the last report is the same as ghd opening balance on the current report!)

  • Send requests for larger purchases to the offsite manager for office, yard and hardware supplies, etc...

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