HCAE-AP: Disbursement of Monies
The Board authorizes the Business Manager to disperse district monies by issuance of a negotiable instrument, electronic payment, or credit/debit cards that have been issued in the district’s name. Money shall only be dispersed if the following conditions are met:
- There are sufficient moneys available in the fund from which monies will be withdrawn; and
- Money shall only be dispersed when authorized by the Board through policy or prior approval; and
- All bills/invoices shall be signed by the authorized purchasing agent.
- Electronic payments are recorded in a format that can be reviewed and verified by the Board; and
- An itemized listing of all bills paid shall be given to the Board semi-monthly for approval; and
- Negotiable instruments shall be signed by the Business Manager and Board President.
Online Banking
The Business Manager is authorized to use online banking to manage district monies provided that all online transactions (e.g., transfers, withdrawals, etc.) are recorded in a format that can be reviewed and verified by the Board.
Petty Cash
The Board authorizes the Business Manager to establish petty cash funds to be kept in the school offices for payment of incidental expenses. Access shall be limited to administrators and administrative assistants. A complete account of the petty cash fund shall be maintained and submitted to the Business Manager for replenishment. The Business Manager shall also develop a schedule for audit review at least once every three years to determine compliance with internal control procedures.
Facsimile Signature
The Board President is authorized to provide a facsimile signature in accordance with law. This signature shall not be used by nor shall it be in the custody of the Business Manager. The Superintendent shall develop measures to ensure compliance with this policy. The signature shall only be used on negotiable instruments that have received approval in accordance with this policy.
Adopted: 01/10/11
Reviewed:
Revised: