701.03 - Classification of Accounts

The money received from the regular and the voter-approved physical plant and equipment levies, the levy for public educational and recreational activities imposed under chapter 300, the proceeds of the sale of bonds authorized by law, and the proceeds of a tax estimated and certified by the board for the purpose of paying interest and principal on lawful bonded indebtedness shall be deposited in the schoolhouse fund and, except when authorized by the electors, shall be used only for the purpose for which originally authorized or certified.  The money received from the district management levy shall be deposited in a sub-fund of the general fund of the school district.  All other revenue received for any other purpose shall be deposited in the general fund of the school district.  The treasurer shall keep a separate account for each fund and shall not pay an order that fails to state the fund upon which it is drawn and the specific use for which it is to be applied.

 

 

Legal Reference:  Iowa Code §§ 11.23; 291.13 (2009).

Cross Reference:  704      Revenue
                              705      Expenditures

 

Approved:  11/01/2004

Reviewed:  09/21/2009, 10/20/2014, 10/21/2019

Revised: