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 school safe.
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 (this amount not to exceed $1,500.00), 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: 701.1 Depository of Funds
704 Revenue
Approved: November 1996
Reviewed: January 2018, July 2021
Revised: January 1999
