Board Policies
Adoption Date: 06/22/2021
History: 05/24/22 (reviewed), 4/11/23 (updated), 4/23/24 (reviewed)
Each year at its annual meeting, the board will designate by resolution the name and location of the Iowa located financial depository institution or institutions to serve as the official school district depository or depositories. In those years where all financial depository institutions and deposit amounts have not changed from the previous year's resolution, no action is required. The maximum deposit amount to be kept in the depository will be stated in the resolution. The amount stated in the resolution must be for all depositories and include all of the school district's funds.
It is the responsibility of the board secretary to include the resolution in the minutes of the meeting.
Policy References:
Legal Reference:
Iowa Code §§ 12C2; 279.33
Cross Reference:
206.3 | Secretary |
206.4 | Treasurer |
210.1 | Annual Meeting |
702 | Cash in School Buildings |
704.1 | Local - State - Federal - Miscellaneous Revenue |
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