15-1126. Accounting; deposit; disposition of
monies
A. Auxiliary operations fund monies shall be accounted for in accordance with the
requirements of the uniform system of financial records.
B. Auxiliary operations fund monies shall be deposited after authorization by the
governing board in a bank account designated as the auxiliary operations
fund. Disbursements from the fund shall be authorized by the governing
board. Disbursements shall be made by check signed by two employees of the school
district designated by the governing board. Persons authorized by the governing board to
sign checks shall give a bond in an amount determined by the governing board, and the
cost of bond premiums may be a charge against the fund.
C. Auxiliary operations fund monies may be invested and reinvested by the governing
board of a school district. All monies earned by investment shall be credited to the
auxiliary operations fund of the school district.
D. The governing board may establish an imprest petty cash fund at each school
within the school district for activities which require immediate cash outlays for
postage, freight, express, parcel post, travel or other minor disbursements, but not
including salaries or wages, which are proper as ultimate expenditures from the school
district auxiliary operations fund. Imprest petty cash funds established by the
governing board shall be funded from the school district auxiliary operations fund in an
amount to be determined by the governing board.
E. The governing board may establish a revolving fund bank account for each school
within the school district for necessary current expenditures in connection with school
bookstore and athletic activities. The revolving funds shall be funded from the auxiliary
operations fund in an amount to be determined by the governing board. The school shall
return the monies in the revolving fund bank account at the end of each fiscal year to
the credit of the school district auxiliary operations fund.
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