Skip To Main Content

Schools Trigger

Weglot Trigger

Mobile CTAs

Header Right

Utility Container

Schools Trigger

container-btn weglot-trigger

Search Trigger

Search Container

Schools Nav

Pinned CTAs

Board Policies


Last Updated Date: 04/11/2023

Adoption Date: 06/22/2021

Revision History: 05/24/22 (reviewed), 4/11/23 (updated), 2/13/24 (updated)

Governmental Fund Type

  • General Fund - This fund is the chief operating fund of the district. It is used to account for all financial resources except those accounted for and reported in another fund.
  • Special Revenue Fund - These funds account for the proceeds of specific revenue sources other than trusts or major capital projects, that are legally restricted or committed to expenditure for specified purposes other than debt service or capital projects.
    • Management Levy fund
    • Public Education and Recreation Levy fund (PERL)
    • Student activity fund
  •  Capital Projects Fund - These funds are used to account for financial resources to acquire or construct major capital facilities or other capital assets (other than those of proprietary funds and trust funds) and to account for revenues from SAVE.
    • Physical Plant and Equipment Levy fund (PPEL)
    • Secure and Advanced Vision for Education (SAVE)
    • General Obligation Bonds Fund
  • Debt Service Fund - This fund is used to account for the accumulation of resources for, and the payment of, general long-term debt principal and interest.             

Proprietary Fund Type -These funds account for operations of the school district operated similar to private business for which a fee is charged to external users for goods or services, or they account for the costs of providing goods and services provided by one department to other departments on a cost
reimbursement basis.

  • Enterprise Fund
    • Nutritional Services Fund
    • Child Care Fund
    • Internal Service Fund
    • Community Education
    • Preschool (nonvoluntary, state)

Fiduciary Funds - These funds are used to account for monies or assets held by the school district on behalf of, or in trust for, another entity.

  • Trust
    • Expendable trust funds
    • Nonexpendable trust funds
    • Pension trust funds
  • Custodial Funds

Non-Fiduciary Scholarship Fund

Account Groups - The groups are the accounting records for capital assets and long-term debt.

  • General capital assets account group
  • General long-term debt account group

The board may establish other funds in accordance with generally accepted accounting principles and may certify other taxes to be levied for the funds as provided by state law. The status of each fund must be included in the annual comprehensive financial report.

It is the responsibility of the superintendent, in conjunction with the school business official, to implement this policy and bring necessary changes in the maintenance of the school district's financial records to the attention of the board.


Policy References:

Legal Reference:

Iowa Code §§291; 298; 298A.
281 I.A.C. 98

Cross Reference: 

701.2 Transfer of Funds
701.4 Governmental Accounting Practices & Regulations
802.4 Capital Assets
802.4R1 Capital Assets - Regulation
802.4R2 Capital Assets - Management System Definitions
  • 700