Financial Management - Series 7000

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

Policy 7000- Goals

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

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: