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 activity fund.
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 amout 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
Cross Reference:
701.1 Depository of Funds
704 Revenue
Approved July 2000
Reviewed November 2022
Revised July 2021
Gate receipts from any given school event have the potential to amount to a substantial sum of cash. In consideration of the board policy to limit cash in the cash drawer in the office and in the safe, at the close of the school day, cash receipts should be removed and deposited on the same day of the event whenever possible.
In those instances when same-day deposits are impossible, gate receipts are to be locked in safe until the first business day when a deposit can be made. 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 athletic secretary and building secretaries shall be responsible for collections, counting and depositing the gate receipts. The superintendent shall provide administrative regulations to be followed by those chosen to handle the recipts.