Financial Management - Series 7000
- Goals- 7000
- Delinquent Accounts Receivable- Write Off- 7242
- Rental or Lease of District Property- 7250
- Rental or Lease of District Property Procedures- 7250P
- Rental of Musical Instruments- 7252
- Student Incentives- 7261
- Student Incentives Procedures- 7261P
- Student Incentives Request Form- 7261F1
- Student Incentives Report Form- 7261F2
- Proceeds from the Sale of Bonds- 7270
- Budget Implementation- 7310
- Paying for Goods and Services: Warrants- 7322
- Purchasing: Relations with Vendors- 7324
- Interest of Short Term Debt- 7340
- Audits- 7423
Goals- 7000
The quantity and quality of learning programs are directly dependent on the funding provided and the effective, efficient management of those funds. It follows that the attainment of district goals can best be achieved through excellent fiscal management. As trustee of local, state, and federal funds allocated for use in public education, the board shall be vigilant in fulfilling its responsibility to see that these funds are used wisely for achievement of the purposes to which they are allocated.
Because of resource limitations, there is sometimes a temptation to operate so that fiscal concerns overshadow the educational program. Recognizing this, it is essential that the district take specific action to make sure education remains central and that fiscal matters are ancillary and contribute to the educational program. This concept shall be incorporated into board operations and into all aspects of district management and operation.
In the district’s fiscal management, the board seeks to achieve the following goals:
1. Engage in thorough advance planning, with broad-based staff and community involvement, in order to develop budgets and to guide expenditures so as to achieve the greatest educational returns and the greatest contributions to the educational program in relation to dollars expended.
2. Establish levels of funding which shall provide high-quality education for the district’s students.
3. Use the best available techniques for budget development and management.
4. Provide timely and appropriate information to staff who have fiscal management responsibilities.
5. Establish maximum efficiency procedures for accounting, reporting, business, purchasing and delivery, payroll, payment of vendors and contractors, and all other areas of fiscal management.
Legal References:
- RCW 28A.505 School District Budgets
- RCW 28A.320.010 Corporate powers
- RCW 28A.320.020 Liability for debts and judgments
Adoption Date: August 25, 1993
Delinquent Accounts Receivable- Write Off- 7242
Delinquent Accounts Receivable – Write Off
The superintendent shall ensure that all avenues of collecting the accounts receivable have been exhausted and then declare them delinquent. The board authorizes the superintendent to write off such delinquent accounts.
Adopted: January 22, 2003
Policy 7242- Delinquent Accounts Receivable- Write Off
Rental or Lease of District Property- 7250
Rental or Lease of District Property
When District real property is not needed, the Board has the authority to rent or lease any surplus real property. The District shall establish the rental rate based on the fair market value, provided that such rental rate is non-discriminatory within classes of users.
Such property shall be rented or leased for lawful purposes. The rental or lease shall be in the best interest of the District and shall not interfere with the conduct of the District's educational program and related activities.
Proceeds from the rental or lease of District property which are in excess of the operational costs incurred for such rental or lease shall be deposited in the capital projects fund or debt service fund. After evaluating the sufficiency of the capital projects fund for purposes of meeting demands for new projects and improvements, proceeds may also be deposited into the general fund to be used exclusively for nonrecurring costs related to operations.
Legal References:
- RCW 28A.335.150 Use and rental of playgrounds, athletic fields or athletic facilities
- RCW 28A.320.510 Night schools, summer schools, meetings, use of facilities
- RCW 28A.335.040 Surplus school property, rental, lease, or use of - Authorized Limitations
- RCW 28A.335.050 Surplus school property, rental, lease or use of - Joint use
- RCW 28A.335.060 Surplus school property, rental, lease, or use of - Disposition of moneys received from
- RCW 28A.335.070 Surplus school property, rental, lease or use of - Existing contracts not impaired
- RCW 28A.335.080 Surplus school property, rental, lease or use of - Community use not impaired
- RCW 28A.335.090 Conveyance and acquisition of property - Management
- WAC 392-123-175 Proceeds
Adoption Date: August 25, 1993
Revision Dates: February 22, 2012
Policy 7250- Rental or Lease of District Property
Rental or Lease of District Property Procedures- 7250P
Rental or Lease of District Property
The Superintendent, or designee, is charged with the responsibility of establishing a rental rate based upon fair market value. Local real estate professionals should be contacted to assist in establishing rental rates and/or obtaining qualified tenants. A reasonable fee may be paid for such services. Rental rates shall be reviewed at least every three years and adjusted accordingly.
The Superintendent, or designee, is charged with the responsibility of executing any necessary rental agreement or leases authorized by the Board of Directors.
The District's maintenance department shall provide necessary maintenance whenever practical. Outside contractors may be used whenever the District's staff is unable to provide the services necessary.
Revision Dates: August 25, 1993, February 22, 2012, May 9, 2012
Procedure 7250P- Rental or Lease of District Property
Rental of Musical Instruments- 7252
Rental of Musical Instruments
The district shall purchase only those instruments which, because of cost and/or unsuitability as a solo instrument, are not likely to be purchased by parents and yet are needed for full instrumentation of school music groups. Such instruments shall be rented with the fee used to help cover maintenance costs. Rental instruments shall be used only in preparation for and playing in school organizations. The user shall be responsible for any damage to the instrument which might occur while it is in his/her care.
The superintendent shall establish a rental fee for school-owned instruments.
Adoption Date: August 25, 1993
Policy 7252- Rental of Musical Instruments
Student Incentives- 7261
Student Incentives
The board recognizes that it is sometimes beneficial to give nominally-valued incentives to students for tasks completed. Therefore, the district may provide for such incentives.
The superintendent is directed to establish procedures to develop and administer an appropriate program.
Upon request, reports will be made to the board on how this program works and accomplishes the intended goals.
Adoption Date: March 23, 1994
Policy 7261- Student Incentives
Student Incentives Procedures- 7261P
Student Incentives
In order to get approval, the Student Incentive Program Request form, with attachments, must be completed and submitted to the superintendent. The superintendent will grant or deny approval to the items requested.
After approval is granted, purchase orders may be submitted to purchase those items listed on the Student Incentive Program Request form.
The Student Incentive Program Report form should be used to record incentive program actions. The purpose of completing this form is to demonstrate accountability for the assets so used. Whenever requested, the supervisor will submit to the superintendent, a copy of the Student Incentive Program Report form to demonstrate use of those resources purchased. A copy of Student Incentive Report form should be retained by the supervisor, as it will be used to report on dispensation of those incentives acquired.
Food items purchased solely for incentive purpose follow this policy and procedure and do not use Meeting/Workshop/Meal or Refreshment Cost Support form.
Revised: March 23, 1994
Procedure 7261P- Student Incentives Procedures
Student Incentives Request Form- 7261F1
Student Incentives Report Form- 7261F2
Proceeds from the Sale of Bonds- 7270
Proceeds from the Sale of Bonds
Upon the sale of bonds, duly authorized, as prescribed by law, the proceeds shall be credited by the county treasurer to the appropriate fund of the district.
Legal Reference:
- RCW 28A.530.030 Sale of bonds - Delivery - Disposition of proceeds
Adoption Date: August 25, 1993
Policy 7270- Proceeds from the Sale of Bonds
Budget Implementation- 7310
Budget Implementation
The board places responsibility with the superintendent for administering the operating budget, once adopted. All actions of the superintendent in executing the programs and/or activities as set forth in the adopted operating budget are authorized subject to the following provisions:
1. Expenditure of funds for the employment and assignment of staff meet the legal requirements of the state of Washington and adopted board policies.
2. Complete listing of expenditures for supplies, materials, and services are presented for board approval and/or ratification.
3. Purchases are made according to the legal requirements of the State of Washington and adopted board policy.
4. Financial reports are submitted to the board each month.
Legal References:
- RCW 28A 505.140 Rules and regs for budgetary procedures
- WAC 392-123-115 Monthly budget status reports
Adoption Date: August 25, 1993
Policy 7310- Budget Implementation
Paying for Goods and Services: Warrants- 7322
Paying for Goods and Services: Warrants
1. Expenditures of district moneys shall be made on approved vouchers by a warrant signed by the secretary of the board or, in his/her absence, the board chairman.
2. Warrants to be issued shall first be recorded with the county auditor’s office and the county treasurer’s office showing the date, payee, and amount.
3. Within the parameters of RCW 42.24.180, the board authorizes warrants in payment of claims to be paid prior to board approval. The board shall provide for its review of the documentation supporting claims paid and for its approval of all warrants issued in payment of claims at its next regularly scheduled public meeting.
4. The district shall adopt contracting, hiring, purchasing, and disbursing policies that implement effective internal control.
5. The auditing officer and the officer designated to sign the warrants shall each be required to furnish an official bond for the faithful discharge of his or her duties in an amount not less than fifty thousand dollars.
6. If the board finds, as a result of this review, that any voucher(s) should not have been paid, the auditing officer and superintendent shall cause said voucher(s) to be recognized as receivable and to pursue collection diligently until the amounts disapproved are collected or until the board is satisfied and approves the claim or until the receivable is recognized as a bad debt by the board.
Legal Reference:
- RCW 28A.400.030 (5) Superintendent’s duties
- RCW 28A.330.090 Auditing committee and expenditures
- RCW 42.24.080 Municipal corporations and political subdivisions- Auditing and payment-Authentication and certification
- RCW 42.24.180 Taxing district-Issuance of warrants or checks before approval by legislative body
Adoption Date: August 25, 1993
Revised: January 25, 2006
Policy 7322- Paying for Goods and Services: Warrants
Purchasing: Relations with Vendors- 7324
Purchasing: Relations with Vendors
Financial and business transactions of the district shall be carried out in conformity with the law and consistent with sound and ethical business practices. Purchasing decisions shall be made on the basis of objectivity and shall not be influenced by friendships or other personal relationships. Board members, administrators or staff shall not accept a gift or favor from vendors or prospective vendors or other firms or individuals who have had or hope to have transactions with the district. Interests of board members, administrators or staff in any district purchase, sale or other transaction shall be prohibited.
Advertising by vendors on school district property is prohibited, unless designated as an official associated student body (ASB) fund raising activity. All money acquired by the ASBs shall become property of the district. Funds shall be deposited and disbursed from the district’s associated student body program fund.
Legal References:
- RCW 42.23.030 Interest in contract prohibited - Excepted cases
- 42.23.040 Remote interests
Adoption Date: August 25, 1993
Policy 7324 - Purchasing: Relations with Vendors
Interest of Short Term Debt- 7340
Interest on Short Term Debt
The district shall maintain resources adequate to meet obligations without borrowing from other funds, or incurring interest obligations, as a result of the county treasurer having to register warrants as interest bearing because the fund upon which they are drawn is insufficient to pay them. When necessary, interfund loans shall be used as a revenue source in reference to incurring interest obligations to others.
Legal References:
- RCW 28A.505.150 Budgeted expenditures as appropriations
- RCW 39.56.020 Rate on municipal warrants
Adoption Date: August 25, 1993
Policy 7340- Interest of Short Term Debt
Audits- 7423
Audits
The financial accounting records of the district shall be subject to periodic audit by a state examiner. Upon completion of the audit, a report of the examiner’s findings shall be submitted to the board.
Legal Reference:
- RCW 43.09.260 Examination of taxing districts
Adoption Date: August 25, 1993