DIB ©
TYPES  OF  FUNDS / REVOLVING  FUNDS

General  Purpose  Revolving  Fund

A general purpose revolving fund shall be established, pursuant to A.R.S. 15-1101, at a local bank in the account name of the Crane Elementary School District No. 13.  Drafts drawn on the account shall be signed by the employee in charge of the fund or other designated person.  The fund shall be managed in the manner prescribed by the Uniform System of Financial Records (USFR).

No revolving fund may be established unless the designated employee in charge is bonded for an amount equal to twice the amount of the fund.  The cost of the bond shall be a proper charge against the District.

Auxiliary  Operations  Fund

The auxiliary operations fund shall consist of monies raised with the approval of the Board in pursuance of and in connection with all activities of school bookstores and athletic activities.

Fund monies shall be accounted for in accordance with the requirements of the USFR.

After authorization by the Board, fund monies shall be deposited in a bank account designated as the auxiliary operations fund.  Disbursements from the fund shall be authorized by the Board.

Disbursements shall be made by check signed by two (2) employees of the District designated by the Board.  Persons authorized by the Board to sign checks shall be bonded, and the cost shall be charged against the fund.

Auxiliary operations fund monies may be invested and reinvested by the Board.  All monies earned by investment shall be credited to the auxiliary operations fund.

Adopted:  date of Manual adoption

LEGAL REF.: 
A.R.S. 
15-1101
15-1124
15-1125
15-1126
15-1154

CROSS REF.: 
JJF - Student Activities Funds