§ 5-526 Petty cash account. l. The board of trustees may, by
resolution, establish a revolving petty cash account for any
administrative unit or officer in such amount as is deemed necessary.
Any such petty cash account shall continue in existence from year to
year until abolished by like action.

2. Expenditures from a petty cash account may be made only for
payment, in advance of audit and upon receipt of properly itemized bills
for materials, supplies or services furnished to the village for the
conduct of its affairs and upon terms calling for the payment of cash to
the vendor upon the delivery of any such materials or supplies or the
rendering of any such services. Any such bill in an amount of more than
five dollars shall also be certified or verified.

3. A list of all expenditures made from such petty cash account,
together with the bills supporting such expenditures, shall be presented
periodically to the auditing board or village auditor for audit.

4. The auditing board or auditor, as the case may be, shall direct the
village treasurer to reimburse such petty cash account from the
appropriate budgetary item or items, in an amount equal to the total of
such bills which shall be so audited and allowed.

5. Any of such bills or any portion of any such bills as shall be
disallowed upon audit shall be the personal liability of the officer
responsible for the use of the petty cash account from which payment on
account thereof was made, and such officer shall promptly reimburse such
petty cash account in the amount of such disallowances. If such
reimbursement has not been made by the time of the first payment of
salary to such officer after the action of the auditing board or village
auditor in disallowing an amount so expended, such amount shall be
withheld from such salary payment and, if necessary, subsequent salary
payments, and paid into such petty cash account until an amount equal to
the amount so disallowed has been repaid to the petty cash account. Any
bond or undertaking filed by any such officer shall be available to the
village for recovery of any losses incurred by reasons of the operation
of any such petty cash account.