Policy 8300

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FISCAL MANAGEMENT STANDARDS   Policy Code:   8300

In recognition of the board’s responsibility to manage financial resources for the local educational program, the board establishes the following standards:

  1. The board and all employees of the school district shall manage and use available funds efficiently and effectively to meet the goals of the local board and State;
  2. The staff shall design and maintain accounting, financial reporting and management control systems that will enable the board, the board’s auditors, the school staff and the public to have access to accurate, reliable and relevant data, and to permit audits and periodic reports adequate to show that those in charge have handled funds within legal requirements and in accordance with board policy;
  3. The superintendent and finance officer shall keep the board sufficiently informed regarding the budget through periodic reports and any other appropriate means so that the board can deliberate upon and evaluate the budget;
  4. No funds will be expended, regardless of the source (including those funds derived from federal, state, local or private sources), except in accordance with the board’s budget resolution or amendments to the budget resolution; and
  5. Principals and school improvement teams shall be familiar with state and local board requirements related to managing and using fiscal resources and shall comply with these requirements in developing and implementing school improvement plans.


Legal References: G.S. 115C-105.25, -425, -433

Cross References:

Adopted:

Revised: December 10, 2007

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