NONINSTRUCTIONAL AND BUSINESS SERVICES
702 - CASH IN SCHOOL BUILDINGS
The 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 promptly deposited with the building secretary.
A minimal amount of cash shall be kept in the central administration office at the close of the day. Excess cash shall be deposited in the appropriate authorized depository of the school district.
It shall 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 depostis must be made and to comply with this policy.
NOTE: It is best practice for districts to specify the amount of petty cash they will keep on hand, establish any needed petty cash accounts and determine how often deposits will be made. However, there are no legal requirements for these practices. These should reflect the needs of your district.
Legal Reference: Iowa Code §§ 279.8 (1995).
Cross Reference: 701.1 Depository of Funds
704 Revenue
Approved: 1/20/2000
Reviewed: 11/16/15
Revised: 3/21/22