8000 - Fiscal Management

8325 Daily Deposits

Except as otherwise provided by law, all monies collected or received by an officer, employee or agent of the school system or an individual school must be deposited in accordance with this policy. Each officer, employee and agent of the school system or individual school whose duty it is to collect or receive any taxes or other monies shall deposit daily his or her collections and receipts. However, if the amount on hand is less than $250, daily deposits are encouraged but are not required. Regardless of the amount on hand, all funds must be deposited at the end of each school week and on the last business day of each month. All deposits must be made with the finance officer or designee or in an official depository. Deposits in an official depository must be reported immediately to the finance officer or individual school treasurer by means of a duplicate deposit ticket.

The finance officer may at any time audit the accounts of any officer, employee or agent who collects or receives any taxes or other monies and may prescribe the form and detail of these accounts. The accounts of such an officer, employee or agent must be audited at least annually.

Legal References:
G.S. 115C-445
Cross References:
Monday, 07 November 2011
Last Updated: