BOARD POLICY  8520

 

Fiscal Accounting and Reporting

 

                The District’s accounting system will be in conformance with the Uniform School Accounting System and General Accounting Procedures as prescribed by the Auditor of State for the use of school districts.  The Treasurer will be responsible for receiving and properly accounting for all funds of the District.

 

The financial reports must be adequate to:

 

1.        guide the making or deferring of purchases, the expansion or curtailing of programs and the

controlling of expenses;

 

2.        ensure that current data are immediately available and in such form that routine summaries can be readily made;

 

3.        serve as a guide to budget estimates for future years and to hold expenditures to the amounts appropriated; and

 

4.        show that those in charge have handled funds within limitations established by law and in accordance with Board Policy.

 

The Board will receive monthly financial statements from the Treasurer which will show receipts

and disbursements, appropriations, encumbrances, balances, assets, and liabilities.

 

                The Treasurer will make all other financial reports required by law or by State agencies and submit them to the proper authorities.

 

                The financial records must be kept for not less than 10 years and may be destroyed only in compliance with the provisions of State law and in compliance with the provisions of State law and in compliance with specifications of the District’s records commission, the Auditor of State, and the Ohio Historical Society.

 

 

 

7-1-96

 

Legal References:   ORC 117.05; 177.06

                                   ORC  3301.07

                                   ORC  3313.29; 3313.32

                                ORC  3315.04; 3315.13