Ala. Admin. Code r. 356-X-4-.10

Current through Register Vol. 43, No. 1, October 31, 2024

Section 356-X-4-.10 - School Accounting

(1) The system of accounting in all departments will comply with the principles, practices, codes and regulations of the Board, State Department of Education, and recognized governmental accounting authorities.

(2) Monthly financial reports will be submitted by the comptroller to the administration for each preceding month and will be in sufficient detail and in compliance with the above policy so as to enable the administration to reach conclusions concerning the financial operations and make management decisions affecting future operations. Other special financial and inventory reports will be made as deemed necessary by the administration.

(3) The executive director will exercise full control over all school funds, equipment and facilities and will assume full responsibility and be held accountable for the proper handling of such funds.

(4) The Board will purchase suitable fidelity bonds for employees who handle school funds.

(5) Authority to contract for a subsequent year for debts beyond the current cash assets of a school requires written approval of the executive director.

Author:

Ala. Admin. Code r. 356-X-4-.10

Filed September 30, 1982.

Statutory Authority: H.J.R. 145, September 17, 1971.