The board of education shall designate the depository or depositories for all school funds. All funds received by the district shall be deposited promptly in the proper account of each such depository. All funds shall be insured by the Federal Deposit Insurance Corporation or a surety bond approved by the board on securities of the United States government pledged by joint custody receipt.
Funds collected by district employees and by student treasurers shall be handled with prudent business procedures. All funds collected shall be receipted and accounted for and directed without delay to the proper depository. Funds exceeding $2,000.00 (cash) shall not be left overnight in school buildings, except in safes provided for the safekeeping of valuables.
Adopted on: July 13, 2009
Revised on: _________________________
Reviewed on: November 13, 2013
Reviewed on March 13, 2016