Section D contains policies on school finances and the management of funds.
The Board recognizes the importance of excellent fiscal management in managing public resources to achieve the goals of the educational plan of the district. The board will be vigilant in fulfilling its responsibilities to see that these funds are used wisely to achieve the purpose for which they are allocated.
This Policy includes “sub-policies” relating to specific provisions of the Uniform Administrative Requirements for Federal Awards issued by the U.S. Office of Budget and Management. Those requirements, which are commonly known as Uniform Grant Guidance (“UGG”),
One of the primary responsibilities of the School Board is to secure adequate funds to carry out a high-level program of instruction.
The adopted annual school budget is the financial outline of the District’s educational program;
The Superintendent will establish procedures for the involvement of staff in the development of the budget proposal.
The School Board will adopt guidelines and a schedule each year for the timely submission of the budget to the Board.
In the event it becomes necessary to expend an amount greater than what was appropriated for a specific purpose, the Board is authorized to transfer funds from an unexpended balance of one appropriation to a different appropriation that is in deficit.
The Contoocook Valley School District from time to time, on a tax-exempt basis, issues (i) bonds and bond anticipation notes to finance capital projects and (ii) municipal leases to finance the lease-purchase of certain equipment,
Read More: DC – Post-Issuance Tax Compliance and Procedures For Tax-Exempt Obligations
The expenses of the Contoocook Valley School District payable in each fiscal year shall be apportioned as indicated in the Articles of Agreement.
Category: O
1st Read: September 17,
The School Board authorizes the School District Treasurer working in conjunction with
the Superintendent and his/her designee and pursuant to RSA 197:23-a to invest the funds of the
District subject to the following objectives and standards or care.
Senior citizens of the District – persons 65 years of age or older – are permitted to attend all activities of the schools, including athletic events, free of charge. Normal ticketing and seating capacity procedures apply.
A. Purpose and General Policy Statement.
The purpose of this policy is to establish and regulate parameters for use of crowdfunding or other forms of online fundraising and solicitations for classroom,
All income payable to the District and all revenue received will be deposited with the Treasurer, who will credit it to the appropriate account.
The School Board will determine when other depositories are needed and will name them by resolution.
The Superintendent is directed to create internal controls to ensure that contracts, checks and other official documents are accurate, authorized and signed by the appropriate persons and that necessary actions are taken to prevent mistakes,
State law requires that the Treasurer and Assistant Treasurer be bonded. The District will arrange a Public Officials Bond to cover the Treasurer and each Assistant Treasurer, if any, in the amount of $100,000.
The District’s accounting system will be in conformance with the New Hampshire Financial Accounting Handbook published by the State Department of Education. An adequate system of encumbrance accounting will be maintained.
Purpose
The purpose of this policy is to establish guidelines for the District’s fund balances in order to maintain and improve financial stability and to protect the District from unforeseen budgetary situations such as emergencies,
Per NH Statute 198:20-c, and RSA 35:1-c, any town, school district, county, or village district may establish a reserve fund for the maintenance and operation of a specific public facility or type of facility,
CAPITAL (FIXED) ASSETS
The ConVal School District has invested in a broad range of capital assets that are used in the school system’s operations. The Superintendent will designate the person responsible for managing the District’s capital assets and maintaining the fixed assets inventory.
The books and accounts of the District shall be audited yearly. The audit to be performed will meet the single audit procedures prescribed by the Governmental Accounting Standards Board (GASB).
The function of purchasing is to serve the educational program by providing the necessary supplies, equipment, and services.
The acquisition of supplies, equipment, and services will be centralized in the business office,
Petty cash funds may be established for schools, the SAU office, and special programs when they will expedite the purchase of minor items and/or provide immediate payment for minor services.
It shall be the policy of the school district to purchase locally, provided goods of equal quality and at competitive prices are available from local suppliers.
The district purchasing agent should not feel bound to purchase any item locally that can be secured at a saving to the school district from outside sources,
All contracts for, and purchases of supplies, materials, equipment, and contractual services in the amount of $15,000 or more, shall be based, when feasible, on at least three competitive bids.
In keeping with the District’s desire for efficient fiscal management, the following procedure for payment of its liabilities is in effect:
Payment by the Treasurer will be authorized on the basis of two (or more) School Board members.
All wages earned by employees will be paid through the business office.
Payroll procedures are dependent on accurate accounting of hours worked. The process for this will be established by the Superintendent and carried out by administrative personnel.
Monies collected by school employees and by student treasurers shall be handled with prudence. All monies collected shall be receipted, accounted for, and directed without delay to the proper location of deposit.
No equipment or supplies shall be disposed of until permission has been received from
the Superintendent’s office. The Superintendent and or designee will determine whether
the material involved has salable value,
