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Horizon School Division
Creating a better world, one student at a time.
AP 513 - School Generated Funds/Petty Cash Theft


Each school is permitted to operate two separate accounts for ease of recording and tracking school generated funds and petty cash transactions.

One bank account will consist of Petty Cash funds that are for local purchases of minor items.  The balance of Petty Cash funds is established at $500.00 per school and placed in the control of the principal.

The second bank account will consist of funds generated by the students of the school and are to be used at the school level for the purpose for which they were intended.
Deposit of school generated funds and petty cash are to be made in a timely manner.  This will minimize the amount of cash on hand in case a theft occurs.


1.  The identification of a theft regarding school generated funds and/or petty cash funds must be brought to the attention of the area Superintendent of Schools immediately. The area Superintendent will notify the Chief Financial Officer and Superintendent of Finance.

2.  The amount of cash stolen shall be calculated by the principal with the assistance of the school secretary. The cash tally sheets, receipts and deposit books will be analyzed to determine the loss amount.

3.  The loss can either be replaced by school generated funds or the decentralized budget.

Reference:  Sections 85, 87, 109, 110, 142, 171, 173, 175, Education Act
CICA Public Sector Accountability Handbook (PS 1000)

March 7, 2011