Policy Code: DIA-R

Adoption Date: Tuesday, May 17th, 2016

SCHOOL FUNDS

  1. General Responsibility

    All funds collected and disbursed through a school and its organizations are to be accounted for by the principal or a school secretary/office manager who will be adequately bonded.

  2. District Funds

    All receipts from the cafeteria, fees, fines, penalties, book losses and rentals are to be covered by receipts issued by the principal or secretary/office manager. Funds shall then be forwarded to the district office in a timely manner.

    If new books are lost or damaged, it shall be the responsibility of the student to pay the replacement price or to pay the replacement price minus 25 percent per year if the book is less than four years old. If a book is over four years old, a student shall pay 25 percent of its original cost.

    Students are responsible to pay the replacement price for all lost or damaged library books checked out by them regardless of the age of the book.

  3. Athletic Funds

    Detailed information on the accounting of funds connected with the athletic program should be maintained by the school principal.

  4. Activity Funds

    All transactions involving funds belonging to clubs and other school groups are to be recorded in appropriate accounting records by the principal or secretary/office manager.

    The principal is charged with overall responsibility for all activity funds. Disbursements should be for the benefit of the school or the student body.

    Financial reports from each school principal on all school accounts must be filed with the Business Administrator on a monthly basis on forms designed for that purpose.

    Any checks received from outside sources for school or district sponsored functions, clubs, or sports must be written to the corresponding school or Iron County School District.