Code No. 702
CASH IN SCHOOL BUILDINGS
The amount of cash that may be kept in the school building for any one day is sufficient for that day's operations. Funds raised by students are kept in the buildings but should be driected to teh Business office as soon as possible. .
A minimal amount of cash is kept in the central administration office at the close of the day. Excess cash is deposited in the authorized depository of the school district.
It is 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
Approved 9-13-93 Reviewed 8-19-13 Revised 4-12-2021
Code No. 702.1
GATE RECEIPTS
Gate receipts from any given school event have the potential to amount to a substantial sum of cash. Gate receipts should be deposited as soon as possible in the school district's depository.
When same-day deposits are not possible, the gate receipts are to be kept in the building in which the receipts were collected. 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 superintendent shall be responsible for designating the individuals 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.
Legal Reference:
Iowa Code 279.8
Approved 9-13-93 Reviewed 8-19-13 Revised 11-16-2020