Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)

Regulations

Municipal Supply Chain Management Regulations, 2005

Chapter 2: Framework for Supply Chain Management Policies

Part 2: Acquisition management

15. Petty cash purchases
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A supply chain management policy must stipulate the conditions for the procurement of goods by means of petty cash purchases referred to in regulation 12 (1)(a), which must include conditions—

 

(a)determining the terms on which a manager may delegate responsibility for petty cash to an official reporting to the manager;

 

(b)limiting the number of petty cash purchases or the maximum amounts per month for each manager;

 

(c)excluding any types of expenditure from petty cash purchases, where this is considered necessary; and

 

(d)requiring monthly reconciliation reports from each manager to the chief financial officer, including—
(i) the total amount of petty cash purchases for that month; and
(ii) receipts and appropriate documents for each purchase.