The River Valley School Board shall designate an official depository(ies) for school district funds. Checking, savings, and investment accounts shall be opened as deemed necessary for the efficient operation on the school district.
Deposits made in any one financial institution shall be limited to the amounts protected by state and federal law, unless under specific conditions approved by the Board.
All funds belonging to the district are under the control of the Board and shall be accounted for by the Board in accordance with state law. The Board must approve all expense and shall direct Treasurer to disburse funds according to state law.
LEGAL REF.: Sections 34.05 Wisconsin Statutes
34.08
34.09
66.042
120.12(7)
120.16(5) & (6)
CROSS REF.: Policy #652 - Revenues from Investments
Policy #661.1 - Authorized Signatures
Policy #673 - Payment Procedures
APPROVED: July 13, 1989
REVISED: May 8, 1997
APPROVED: June 12, 1997
12/21/2004 pw