Policy 4.3.8

Fiscal Accounting and Reporting

The Board of Education insists on clear, complete, and detailed accounting of all financial transactions for which the Board is held accountable.

Accounting and Reporting Systems

The system of accounts will conform to the Uniform System of Accounts for School Districts. The accounting system will yield information necessary for the Board to make policy decisions.

Proposed expenditures will be budgeted under, and the actual expenditures will be charged, to categories that most accurately describe the purpose for which the monies are to be expended.

The Board of Education directs the Superintendent of Schools to keep it informed of the financial status of the district through monthly cash reconciliation, budget status reports, and annual fiscal reports. The Superintendent should highlight any deviation in actual fiscal conditions from planned fiscal conditions and offer recommendations to the Board to remedy the situation. The Assistant Superintendent, in conjunction with the District Treasurer, will prepare and submit, through the Superintendent, to the Board and the Commissioner of Education, such reports as are prescribed by law. Such reports shall be filed with appropriate governmental bodies as required under law or regulation. The district will cooperate with governmental agencies and research organizations as required by law for data concerning the fiscal operations of the district.