702 - Cash in School Buildings
702 - Cash in School BuildingsThe amount of cash that may be kept in the school building for any one day shall be sufficient for that day's operations. Funds raised by students will be kept in the authorized depository of the school district.
A minimal amount of cash will be kept in the central administration office at the close of the day. Excess cash will be deposited in the authorized depository of the school district.
It will be the responsibility of the superintendent or the superintendent’s designee to develop administrative regulations to determine the amount of cash necessary for each day's operations, to establish any necessary petty cash accounts, to determine how often deposits must be made, and to comply with this policy.
Legal Reference: Iowa Code § 279.8
Cross Reference: 701.2 Depository of Funds
704 Revenue
Approved 11/1/2004 Reviewed 09/21/2009 Revised 10/18/2021
10/20/2014
10/21/2019
10/18/2021
702.1R1 - Gate Receipts
702.1R1 - Gate ReceiptsGate receipts from any given school event have the potential to amount to a substantial sum of cash. In consideration of the board policy to limit cash in the building offices at the close of the school day, cash receipts should be removed and deposited on the same day of the event whenever possible.
In those instances when same-day deposits are impossible, gate receipts are to be locked in safe until the first business day when a deposit can be made. The board discourages the individual in charge of collection of the gate receipts from personally holding the receipts except in special circumstances approved by the superintendent.
The activities director shall be responsible for designating the individual who shall be in charge of collecting, counting and depositing the gate receipts. The superintendent shall provide administrative regulations to be followed by those chosen to handle the receipts.