Policy 8410

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INDIVIDUAL SCHOOL ACCOUNTS   Policy Code:   8410

The board authorizes the maintenance of appropriate individual school accounts. All employees and volunteers who handle checks, receipts, deposits, money or financial records related to the individual school accounts are expected to be familiar with applicable laws and board policies. The principal is responsible for the proper administration of financial activities of the school in accordance with provisions of law and appropriate accounting practices and procedures. The school treasurer shall perform duties as provided in board policy 8520, School Treasurer. No payments may be made from school accounts to school system employees for personal services rendered. Any compensation for services performed by school system employees must be made though the regular employee payroll.

The finance officer shall establish any procedures necessary to help ensure that all funds are handled in accordance with law, board policy and standards for accounting and shall periodically inspect the books of the individual schools to ensure that the appropriate procedures are being followed.. All accounts are subject to audit at any time by the superintendent or finance officer.


Legal References: G.S. 115C-435, -436, -445, -448

Cross References: Fiscal Management Standards (policy 8300), Daily Deposits (policy 8325), School Finance Officer (policy 8510), School Treasurer (policy 8520)

Adopted:

Revised: December 10, 2007

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