It is the responsibility of the board to appoint a treasurer. The board may appoint a treasurer from its employees, other than a position requiring a teaching certificate, or from the public. To finalize the appointment, the treasurer will take the oath of office during the meeting at which the individual was appointed or no later than ten days thereafter.
It is the responsibility of the treasurer to oversee the investment portfolio, to receive funds of the school district, to pay out the funds for expenses approved by the board, to maintain accurate accounting records for each fund, to report monthly regarding the investment portfolio and the status of each fund and to file required reports with the appropriate state agencies and other entities. It will also be the responsibility of the treasurer to work with the secretary to coordinate the financial records, the financial reports, the cash flow needs and the investment portfolio of the school district.
If the treasurer is unable or unwilling to carry out the duties required, it is the responsibility of the superintendent to carry out the duties of the treasurer.
The treasurer will give bond or be covered by an insurance policy in an amount set by the board. The cost of the bond or insurance policy will be paid by the school district.
Legal Reference: Iowa Code §§ 12B.10; 12C; 279.3, .31-.33; 291.2-.4, .8, .11-.14.
281 I.A.C. 12.3(1).
Cross Reference: 202.2 Oath of Office
206.3 Secretary
210.1 Annual Meeting
215 Board of Directors' Records
701.1 Depository of Funds
704.3 Investments
707 Fiscal Reports
707.2 Treasurer's Annual Report
707.3 Publication of Financial Reports
Approved 03-13-2019
Reviewed 08-14-2024
Revised 08-14-2024
