It shall be the responsibility of the board to annually 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 shall take the oath of office during the meeting at which the individual was appointed or no later than ten days thereafter.
The primary responsibility of the treasurer, as an appointed school officer, is to administer and maintain compliance with the law. It will also be the responsibility of the treasurer to receive funds of the school corporation, to pay out the funds for expenses approved by the board, and 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.
It shall be 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.
If the treasurer is unable or unwilling to carry out the duties required, it shall be the responsibility of the superintendent to carry out the duties of the treasurer until the treasurer is able to resume the responsibility or a new treasurer is appointed.
The treasurer shall give bond in the amount set by the board. The cost of the bond will be paid by the school district. The board may appoint one person to serve as the secretary and the treasurer in which event that individual will be accountable for the responsibilities of both the board secretary and board treasurer, as set forth in board policy.
Approved: 12-16-92
Reviewed: 11-11-91, 11-11-96, 11-9-98, 11-8-04, 12-12-11, 12-11-14
Revised: 01-10-94, 11-08-21
