Winston-Dillard School
District 116
Revised/Readopted: 7/10/02
Fiscal Accounting and Reporting
The district’s accounting
and reporting system shall be in accordance with generally accepted accounting
procedures and shall conform with state laws and regulations.
The superintendent or designee shall be the
lawful custodial officer of all district funds. Funds may be commingled in the depository so long as they are
budgeted and accounted for separately.
Appropriate staff member(s) shall be
available at any board meeting, upon request of the board, to respond to
questions and to present current financial information. The superintendent shall notify the board at
any time that substantial deviations from anticipated income or expenditures
are anticipated.
The board may request monthly financial
reports which shall include estimates of expenditures for the major general
fund budget division in comparison to budget appropriations, actual receipts in
comparison to budget estimates, and the overall cash condition of the
district. Supplementary reports on
other funds or accounts shall be furnished on request of the board or
superintendent.
Special funds shall be established for only
those purposes that fall within the intent of the laws of this state and shall
be expended duly for the purposes established thereby.
Accountability for these funds shall be
provided through the district’s annual audit.
The board may request a pre-audit report
recapping the year-end closure of financial statements prior to the annual
audit by the district’s authorized accountant.
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