707 FISCAL REPORTS

707.1 SECRETARY'S REPORTS

The board secretary shall report to the board each month about the receipts, disbursements and balances of the various funds.  This report shall be in written form and sent to the board with the agenda for the board meeting.

 

 

 

 

 

 

 

 

Legal Reference:          Iowa Code §§ 279.8; 291.7 (2013).

                         

 

 

Cross Reference:         206.3   Secretary [or 206.3, Secretary-Treasurer]

                                    210.1   Annual Meeting

                                    707      Fiscal Reports

 

Approved:                   4-11-83

 

Reviewed:                    3-14-94, 10-13-03, 11-10-08, 2-24-14

 

Revised:                       1-26-98

707.2 TREASURER'S ANNUAL REPORT

At the annual meeting, the treasurer shall give the annual report stating the amount held over, received, paid out, and on hand in the general and schoolhouse funds.  This report is in written form and sent to the board with the agenda for the board meeting.  The treasurer shall also furnish the auditor with a sworn statement from each depository showing the balance then on deposit.

 

It is the responsibility of the treasurer to submit this report to the board annually.

 

 

 

 

 

 

 

 

 

Legal Reference:          Iowa Code §§ 279.31, .33 (2013).

 

 

Cross Reference:         206.4   Treasurer [or 206.3, Secretary-Treasurer]

                                    210.1   Annual Meeting

                                    707      Fiscal Reports

 

Approved:                   4-11-83

 

Reviewed:                    3-14-94, 11-10-08, 2-24-14

 

Revised:                       1-26-98, 10-13-03

 

707.3 PUBLICATION OF FINANCIAL REPORTS

Each month the schedule of bills allowed by the board is published in a newspaper designated as a newspaper for official publication.  Annually, the total salaries paid to employees regularly employed by the school district shall also be published in a newspaper designated as a newspaper for official publication.

 

It is the responsibility of the board secretary to publish these reports in a timely manner.

 

 

 

 

 

 

 

 

 

Legal Reference:          Iowa Code §§ 279.35, .36; 618 (2013).

                                    1952 Op. Att'y Gen. 133.

 

Cross Reference:         206.3   Secretary [or Secretary-Treasurer]

 

Approved:                    4-11-83 

 

Reviewed:                     3-14-94, 10-13-03, 11-10-08, 2-24-14

 

Revised:                        1-26-98

707.4 AUDIT

To review the funds and accounts of the school district, the board shall employ an auditor to perform an annual audit of the financial affairs of the school district.  The superintendent shall use a request for proposal procedure in selecting an auditor.  The administration shall cooperate with the auditors.

 

 

 

 

 

 

Legal Reference:          Iowa Code § 11.6 (2013).

 

Cross Reference:         701      Financial Accounting System

                                    707      Fiscal Reports

 

Approved:                   4-11-83

 

Reviewed:                    3-14-98, 10-13-03, 11-10-08, 2-24-14

 

Revised:                       1-26-98

 

707.5 INTERNAL CONTROLS

The Board expects all board members, employees, volunteers, consultants, vendors, contractors, students and other parties maintaining any relationship with the school district to act with integrity, due diligence, and in accordance with all laws in their duties involving the school district’s resources.  The board is entrusted with public dollars and no one connected with the school district should do anything to erode that trust.

 

Internal control is the responsibility of all employees of the school district. The superintendent, business manager and board secretary shall be responsible for developing internal controls designed to prevent and detect fraud, financial impropriety, or fiscal irregularities within the school district subject to review and approval by the board.  Administrators shall be alert for any indication of fraud, financial impropriety, or irregularity within the administrator’s area of responsibility.

 

Any employee who suspects fraud, impropriety, or irregularity shall report their suspicions immediately to his/her immediate supervisor, and the superintendent.  The superintendent shall have primary responsibility for any necessary investigations and shall coordinate investigative efforts with the board’s legal counsel, auditing firm, and other internal or external departments and agencies, including law enforcement officials, as the superintendent may deem appropriate.

 

Employees bringing forth a legitimate concern about a potential impropriety will not be retaliated against and those who do retaliate against such an employee will be subject to disciplinary action up to, and including, discharge.

 

In the event the concern or complaint involves the superintendent, the concern shall be brought to the attention of the board vice-president, or vice-president who shall be empowered to contact the board’s legal counsel, insurance agent, auditing firm, and any other agency to investigate the concern or complaint.

 

Upon approval of the board, the superintendent, or vice-president or president, may contact the State Auditor or elect to employ the school district’s auditing firm or State Auditor to conduct a complete or partial forensic/internal control/SAS99 audit annually or otherwise as often as deemed necessary.  The superintendent is authorized to order a complete forensic audit if, in the superintendent’s judgment, such an audit would be useful and beneficial to the school district.  The superintendent, or vice-president or president, shall ensure the State Auditor is notified of any suspected embezzlement or theft pursuant to Iowa law.  In the event, there is an investigation; records will be maintained for use in the investigation.  Individuals found to have altered or destroyed records will be subject to disciplinary action, up to, and including termination.

 

Legal References:    American Competitiveness and Corporate Accountability Act of 2002, Pub. L. No. 107-204.

Iowa Code ch. 11, 279.8 (20113).

 

Cross References:   401.12 Employee Use of Cell Phones

707.6   Audit Committee

 

Approved:                   11-10-08

Reviewed:                    2-24-14

Revised: