Deposits and Transfers
Annually, in January, the Board shall appoint a depository (bank or capital stock financial institution) for all district funds.
All funds received by the District shall be deposited promptly in the proper account of the Board approved depository. The safeguarding of all funds shall be insured by the surety bond approved by the Board, securities of the U.S. Government pledged by joint custody receipt, or an irrevocable line of credit letter from a Federal Home Loan Bank.
TRANSFER OF FUNDS WITHIN AND BETWEEN BUDGETS
All transfers of large amounts (over $10,000) from one major classification to another within a general or building budget shall be reported to the Board.
The Board is responsible for the control of all funds of the school system, including internal funds.
Monthly reports on the general fund and the building/sinking fund will be given to the Board by the Superintendent or designee and treasurer. Reports on all other funds will be given to the Board at least annually or more often upon request.
Legal Reference: Neb. Statute 77-2350
Cross Reference: 203.01 Board Organizational Meeting
705.01 Local, State, Federal, or Miscellaneous Revenue
Adopted: June 12, 2006
Revised: March 9, 2009
Revised: November 12, 2012