Policy 704:  Accounts

 

704.1 Secretary/Treasurer's Monthly Report
The Secretary/Treasurer of the Board shall file with the Board of Directors each month a complete financial statement of the preceding month's business. This statement shall be enclosed with the agenda sent to the members of the Board prior to the regular monthly meeting.

Legal Reference: (Code of Iowa) Chapter 291.7


Date of Adoption: November 12, 1974

Reviewed: April 13, 1992; Dec. 14, 1998; May 14, 2001; Feb. 14, 2006; Jan. 10, 2011; March 9, 2015

Amended: June 9, 1986

 

704.2 Treasurer's Annual Report
The Treasurer of the Board of Directors shall make an annual report to the Board at a regular or special meeting held not later than August 15, which shall show the amount of the general fund and all other active funds held over, received, paid out, and on hand. Annually, the Board of Directors shall publish in at least one newspaper of the District, the salaries paid to all employees the preceding school year.

Legal Reference: (Code of Iowa) Chapter 291, 279.33-36


Date of Adoption: November 12, 1974


Reviewed: April 13, 1992; Dec. 14, 1998; May 14, 2001; Feb. 14, 2006; Jan. 10, 2011; March 9, 2015


Amended: April 13, 1992; January 11, 1999

 

704.3 Audits
The Board of Directors shall cause to be initiated an annual audit of the financial affairs of the School District in accordance with the statutes of the State of Iowa. The Board will employ an independent certified public accountant to perform such audits with competitive bids for such services obtained once every three (3) years. Such annual audit reports shall remain on permanent file in the administrative office of the School District.

Legal Reference: (Code of Iowa) Chapter 11.18


Date of Adoption: November 12, 1974


Reviewed: April 13, 1992; Dec. 14, 1998; May 14, 2001; Feb. 14, 2006; Jan. 10, 2011; March 9, 2015


Amended: February 14, 2006

 

704.4 Transfer of Inactive Account Funds
When the necessity for maintaining any account has ceased to exist, and a balance remains in said account, the Board of Directors, at its annual meeting in July, shall so declare by resolution and upon such declaration shall transfer said balance to the fund or funds designated by the Board.

Legal Reference: (Code of Iowa) Chapter 24.21


Date of Adoption: November 12, 1974


Reviewed: April 13, 1992; Dec. 14, 1998; May 14, 2001; Feb. 14, 2006; Jan. 10, 2011; March 9, 2015

Amended: January 11, 1999